In London today is of course the late summer bank holiday. In the USA it is both National Eat Outside Day and National Bacon Day and yesterday was National Toasted Marshmallow Day. These are new kinds of celebrations for most non Americans but as non historical or religious based are at least easily understood.
SGM-FX is unable to enjoy a bacon sandwich outside today ( bacon sandwich provider of choice Birleys off Fenchurch Street remains shuttered) but while hungry for the return of Birleys, SGM-FX is ready and open for business with 41 Eastcheap manned and watchful.
EUR remains strong at 1.19 versus USD and USD weaker after the initial reaction to PM Abe’s resignation news versus JPY at 105.30. GBP remains a beneficiary versus USD and EUR enjoying its best levels for two months.
South Africa: Cape Town Table Mountain
Pretty scenes of Table Mountain covered in snow on Saturday although the mountain is shut to visitors due to slippery conditions. SA Consumer Price Inflation at 4.2% warming up as restrictions on the SA economy are lifted and will soon melt that snow except maybe at the very top of Table Mountain for a few more weeks. ZAR strengthened to 16.60 versus USD its best level since June 10.
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Japanese Yen With JPY at a new 34 year low versus EUR, the market is set for an ambush by the Bank of Japan if it acts today at the end of their Policy Meeting to support the Yen. The reason that the market is susceptible is because it has convinced itself that the BoJ […]
Too soon to call USD lower Those following the US Dollar’s performance in the markets would have noted a recent downturn accelerating as this week has progressed. There have been two factors driving this sell-off but it is far from certain that either may endure long enough to push the Dollar index back to its […]
Milan, Italy The City of Milan has a late night noise problem and so it has acted unilaterally to resolve it-Italian style. A ban on the sale of take away food including ice cream and pizza after midnight is being imposed to protect the “peace and health of residents.” Here in the UK late night […]