Japan
A jump in the Japanese Yen amid signs from Japan that consumers are starting to spend more which in turn is encouraging manufacturers to raise their prices for the first time in decades. This may just be the catalyst for the Bank of Japan to begin dismantling its gravity defying easy money conditions policy. Maybe. But the market is beginning to think so.
USD/JPY 139.40.
Canary Wharf
That normally excellent paper the Wall Street Journal yesterday published a story saying that the 30 year old London business district was feeling the pain as corporate clients flee, people work from home and firms relocate to “buzzier areas.” There may be something to the relocation story since firms always come and go, but the WSJ writer should have been in CW yesterday evening as I was: walkways as full as pre pandemic, shops bursting with bag carrying customers and bars and restaurants packed. WFH advocates are fewer and further between these days and yes some buildings are being converted from business to residential use, but that is a further example of the London business districts constantly reinventing themselves.
GBP/USD 1.2960.
Global Beer Consumption by nation
One of those tables that both confirms and surprises. At the top stands the Czech Republic with an annual per capita beer consumption of 136 KG. Beer consumption for the uninitiated is quoted in KG, but 1KG of beer is equivalent to 1.01 litres so it is easy to equate. Next is Ireland with 124, followed by Austria at 102, Germany at 94 and Poland at 93. So where is the UK with its lowly international reputation for hooligan alcohol fuelled behaviour? The answer is at number 35 with 56 KG. Maybe lightweight on the beer but that means that unhealthy strong spirits including shots make up the remainder of the UK’s bingeing.
GBP/EUR 1.1750.
Sailing
This day in 2007 Rod Stewart was awarded the OBE by the then Prince Charles for his services to music. It would be another 9 years until he was made a Knight Batchelor in 2016: Sir Rod.
I am sailing
I am sailing
Home again
‘Cross the sea
I am sailing
Stormy waters
To be near you
To be free
I am flying
I am flying
Like a bird
‘Cross the sky
I am flying
Passing high clouds
To be near you
To be free
Can you hear me? Can you hear me?
Through the dark night, far away
I am dying, forever crying
To be with you, who can say
Can you hear me? Can you hear me?
Through the dark night, far away
I am dying, forever crying
To be with you, who can say?
We are sailing, we are sailing
Home again
‘Cross the sea
We are sailing
Stormy waters
To be near you
To be free
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Click Here to Subscribe to the SGM-FX Newsletter
Related Insights
Daily Brief – UK Employment
Humphrey Percy
Wed 16 Apr 2025
UK Employment At 75.1%, employment for people aged 16-64 looks sort of OK depending on what that really means, but it does not alter the fact that there are currently 1.55 million people who are unemployed, or 4.4% of the potential workforce. Another much more significant number, is that there are currently 9.27 million people […]
Daily Brief – Eastern Europe and Central Asia
Humphrey Percy
Fri 25 Apr 2025
Eastern Europe and Central Asia Between 2010 and 2019 economic growth in this large geographic area averaged 4%. According to the World Bank, that growth will decelerate to 2.5% for the next 2 years and even stripping out Russia that will still be lower at 3.3%. Inflation, weak external demand from the EU, global uncertainty […]
Daily Brief – British Pound
Humphrey Percy
Wed 23 Apr 2025
British Pound A 7 month high versus USD, and GBP is at present benefitting from the self inflicted wounds that the USA is continuing to suffer, the latest of which is the speculation over whether POTUS will defenestrate the Chair of the Federal Reserve. At the moment, and we choose our words carefully given the […]
