26 Sep 2014
Currency wars always a favourite - BBH
FXStreet (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman explained that outside of that occasional journalist reference, there is not much talk of "currency wars."
Key Quotes
"NY Fed President Dudley did comment earlier this week about the foreign exchange market, but a close reading of what he said does not show a resistance to dollar strength."
"First, his comments were conditional. He prefaced his remarks with "if the dollar strengthens a lot." Second, his comments were typical boilerplate stuff: A significant appreciation of the dollar would have consequences for growth and inflation, and this would have to be taken into account in setting monetary policy."
Key Quotes
"NY Fed President Dudley did comment earlier this week about the foreign exchange market, but a close reading of what he said does not show a resistance to dollar strength."
"First, his comments were conditional. He prefaced his remarks with "if the dollar strengthens a lot." Second, his comments were typical boilerplate stuff: A significant appreciation of the dollar would have consequences for growth and inflation, and this would have to be taken into account in setting monetary policy."