We've seen markets get ahead of themselves in bonds and in currencies as well, ... There are signs that markets have now gotten too optimistic about not only the size of the U.S. recovery, but the speed; our medium-term forecast is still very much of euro strength and dollar weakness.
We've seen markets get ahead of themselves in bonds and in currencies as well. There are signs that markets have now gotten too optimistic about not only the size of the U.S. recovery, but the speed; our medium-term forecast is still very much of euro strength and dollar weakness.
Europeans' cries are falling on deaf ears, ... Their wish that the euro not bear the burden of readjustment will not make it into the G7 statement.
Europeans' cries are falling on deaf ears. Their wish that the euro not bear the burden of readjustment will not make it into the G7 statement.
Everybody is spinning it in their own direction, ... The end result is the same trends remain in place: dollar weakness, euro strength and the yen strong, but not so strong as the euro.
The euro can go pretty far -- when currencies correct, they have a tendency to do that. But I don't see the recent move as dramatic or unexpected, and I don't think it's out of line with fundamentals.
There really has not been justification for the dollar rally to happen exclusively versus the euro, especially because euro zone data has been kind of positive and Japanese data has kind of languished in a funk.