GBP/JPY Bounces Off Daily Low, Keeps The Red Above Mid-185.00s Amid Modest JPY Strength
GBP/JPY meets with fresh supply on Thursday and erodes a part of the previous day’s move-up. A combination of factors underpins the safe-haven JPY and exerts some pressure on the cross.
Inflation And Common Sense
The cheap money set off an unprecedented public and private sector borrowing spree. Consumer debt has more than doubled since 2008. Government borrowing/spending skyrocketed; government debt increased four-fold.
AUD/USD Analysis: Struggling To Maintain Gains Amid Market Volatility
On Wednesday, August 7th, the Australian dollar (AUD) slipped by 0.01% against the US dollar (USD), closing at 0.6517. This drop erased an earlier 0.85% gain, leaving the AUD nearly unchanged from the previous day’s close.
Daily Market Outlook - Thursday, Aug. 8
Despite assurances from US Fed officials that the world's largest economy is not headed for a recession, stocks wilted under pressure amid concerns about the outlook for the U.S. economy.