Daily Brief – US Dollar

US Dollar

A further lurch upwards for USD yesterday morning as French politics affected the EUR and the prospect of Japan’s first female Prime Minister as well as the accompanying uncertainty weaken JPY. GBP also feeling the effects of that strong USD. The USD/JPY at 152.80 also in uncomfortable territory for Japan.

EUR/JPY 177.41.

China Youth

China seeks foreign professionals to relocate to the People’s Republic and is offering K Visas to help them although details have not yet been released. With 12 million newly minted grads seeking gainful employment in China this year and almost 20% of non student 16-24 year olds unemployed this is not going down well. 

EUR/USD 1.1621.

Brand Values

Ever wondered how Rolex can afford the amount of advertising and sponsorship that it commissions? In short, with sales of USD 10.6 billion, it is the Number 1 watch brand and has more than 3 times the revenues of its nearest competitor Cartier. Of the Top 5, Omega, Audemars Piguet, and Patek Philippe make up the pack with revenues all close to USD 2.3 billion. Tag Heuer at Number 10 is a minnow with USD726M. 

GBP/USD 1.3370.

Global Religions

Not our normal area to comment on in the world of foreign exchange, but worth a pause for thought on the breakdown: Christianity at the top of the tree with 28%. In second place, Muslims at 26%. Atheists and Agnostics obviously not a religion but a large part of the global congregation at 24%. So, a subtotal of the top 3 comes to 78%. Hindus at 15% and Buddhists at a surprisingly small 4% with smaller sects, folk religions and faiths at 2%. That leaves a balance of just 1% for those of you with agile arithmetical minds and less than 0.5% of that belongs to Judaism.

GBP/EUR 1.1500.

Don’t Stand So Close To Me

This day in 2007 Sting of The Police fame topped a poll which he undoubtedly wished that he had not: worst lyricist ever. His sins included quoting a Volvo bumper sticker and co-opting the works of Chaucer, Shakespeare and St Augustine. Fair play it all sounds quite high brow to us. Nevertheless, he beat off stiff competition from Scott Stapp of Creed and Noel Gallagher of Oasis who came in second and third respectively with good reason given the lyrics below.

Young teacher, the subject of schoolgirl fantasy
She wants him so badly, knows what she wants to be
Inside her there’s longing, this girl’s an open page
Bookmarking, she’s so close now
This girl is half his age

Don’t stand, don’t stand so
Don’t stand so close to me
Don’t stand, don’t stand so
Don’t stand so close to me

Her friends are so jealous
You know how bad girls get
Sometimes it’s not so easy to be the teacher’s pet
Temptation, frustration so bad it makes him cry
Wet bus stop, she’s waiting his car is warm and dry

Have a Great Weekend!

Discussion and Analysis by Humphrey Percy, Chairman and Founder

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