A few short hours stand in the way of the long holiday weekend for many. The capital markets are retracing the recent moves. This means equities and commodities are lower. It means bonds are firmer and the dollar stronger. The markets response to the ECB and FOMC recent meetings was to extend trend moves. However, this entire week has been the counter. The foreign exchange market illustrates this point. The euro is recording a lower high for the first consecutive session and a lower low for the fourth. The dollar's performance against the yen is identical. Sterling has given up all the gains since the FOMC ... READ MORE
