Dollar repatriation fades
MARKET NEWS
US dollar repatriation has been a strong theme in FX markets recently, but, says Peter Luxton (right), global economic adviser at Standard & Poor’s MMS in London, that looks set to change
Relative US dollar strength caught us somewhat on the hop. We saw e/$ 0.9850 as a base (but with a view to an upside test towards 1.03), but over the last couple of days this has eroded. Also, our $/¥ 118 top has gone on distressed selling of the Nikkei 225, to repair holes made by the US equity smash. We favour
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