Gavin Friend

We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Gavin Friend is associated, including Star and EU. Most recently, Gavin Friend has been quoted saying: “We are still two months away from the French election but there is clearly some safe haven buying as we get nearer.” in the article Hints of March rate rise drive dollar higher | Reuters.

Gavin Friend quotes

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We are still two months away from the French election but there is clearly some safe haven buying as we get nearer.

The euro zone PMIs were all very strong, yet at the same time the euro has been very heavy this morning.

The French political noise has brought the euro down and that has given the dollar a reprieve. Markets know that if Trump was to come out and start talking about tax reform and infrastructure spending, the dollar would go up. The dollar rose a long way at the end of last year, it has come back, now we are sitting around waiting for the next steer.

It is the dollar today, there really is no other story. The market has been picking off the other currencies as the afternoon wears on. We are still in that price discovery phase where the market is feeling its way to new levels. First it was the euro now it is cable (sterling). We are testing each one.

The euro probably comes down a bit if he loses and last year's highs of $1.0458 are not far away. But we may also then see calmer heads that understand that it does not necessarily open the door to a Five Star government and a departure from the EU. The broader dollar rally also seems to have run out of a little bit of momentum. People are asking questions of Trump.

I think the market is trying to find an equilibrium here.

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