Greg Gibbs Market Quotations

Obviously the market was well prepared for a change. Maybe the market is expecting some more calming comments from Fukui.

The Australian dollar has moved up against all other currencies quite sharply. The market has been wrong-footed by the Australian dollar, as has happened on several occasions this year. You get a few strong numbers in Australia and the market has to turn around again.

Against that, the market has started thinking about rate hikes in Europe in the first quarter of next year. That is going to prevent a large fall in the euro.

The market is currently factoring in rate hikes toward the end of the year of as much as 50 basis points. That's about right, considering the kind of strong economic numbers we have got out of Japan.

The market has been trading on the hurricane news.