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FX Weekly Strategy: Asia, Sep 14-18
September 11, 2026 5:21 PM UTC
A week of 2 key central bank meetings..
We expect a 25bp Fed hike but perhaps a "dovish hike". Could temper dollar given a lot priced in further out
BoJ also seen going 25bp. A heavy USD/JPY needs validation on shift to quarterly pace however to extend - else to re-test persistence of supply
CHF still
U.S. Equity-Treasury Strains and Correction Risk
September 9, 2026 8:00 AM UTC
· Equity investors have taken note of higher U.S. Treasury yields, but the influence of the AI boom and corporate earnings is greater. Nevertheless, the U.S. equity market valuation means that it is stretched currently versus the U.S. Treasury market and could be hurt by moderate bad
FX Weekly Strategy: Asia, Sep 7-11
September 4, 2026 2:47 PM UTC
US CPI a key focal point. We see upside risks at 0.3% core
ECB hike fully priced in; attention turns to forecasts and commentary on policy stance
Sharp USD/JPY lurch down may have left behind better supply into bounces, further downside risks ahead
BoE seen back of the tightening pack, sterling could s
Barbarous Relic or Strategic Hedge - Gold in a late-cycle portfolio
September 1, 2026 7:00 AM UTC
* Gold worked off early year retail excess, moving into a more constructive technical and seasonal period
* The strategic case for gold is much wider: rich risk asset valuations can neither be sat out nor left unhedged
* History (no guarantee of future performance…) supports increased gold hedges in
SNB: Keeps Rates Unchanged - in no Rush to Hike
September 25, 2026 11:06 AM UTC
Yesterday’s announcement left the SNB on hold at 0% while nudging its inflation forecast modestly upwards and dialling down its threat of intervention as a weakening in the Franc prompted it to pivot towards more vigilance on inflation. The market expects the SNB to hike early next year but we see
SNB: Keeps Rates Unchanged - in no Rush to Hike
September 25, 2026 11:05 AM UTC
Yesterday’s announcement left the SNB on hold at 0% while nudging its inflation forecast modestly upwards and dialling down its threat of intervention as a weakening in the Franc prompted it to pivot towards more vigilance on inflation. The market expects the SNB to hike early next year but we see
Europe Summary and Highlights 25 Sep
September 25, 2026 10:02 AM UTC
USD/JPY trims, FinMIn Katayama advertises Trump's concern at yen weakness
Bonds, dollar steady in the morning after rapid run
Cable offered touch of support from recent BoE comments lifting Nov hike odds
Oil trims as US-Iran talks continue, market not overly convinced of anything soon
Mexico: Stable Rates Diverging From The Fed
September 25, 2026 7:52 AM UTC
· As expected Banxico left the policy rate unchanged at 6.50%, with the statement clarifying that the Mexican and U.S. economies are different and Banxico will not mechanically follow the Fed. The focus now is on the lagged benefit of easing and the inflation trajectory. Banxico will
Mexico: Diverging From The Fed
September 25, 2026 7:52 AM UTC
· As expected Banxico left the policy rate unchanged at 6.50%, with the statement clarifying that the Mexican and U.S. economies are different and Banxico will not mechanically follow the Fed. The focus now is on the lagged benefit of easing and the inflation trajectory. Banxico will
EUR/USD, USD/JPY, GBP/USD flows - Trump yen concern; bonds hit some big levels; BoE priced in for Nov
September 25, 2026 7:04 AM UTC
USD/JPY sees some capping as Japan advertises Trump yen concerns
Cable at base area; BoE hint at Nov dab, now mainly priced in
Oil trims, still off lows ; phased deal talk, though US seems in no hurry for Iran concessions