Marc Chandler Quotations

Ultimately, it is not the size of intervention that matters, but the timing of the move to finesse the market.

We're still trading sideways until we hit 108 yen.

We're still consolidating in a broad trading range.

There are some people playing the carry trade and there are some people who are momentum players.

We've seen speculators try to get out of short yen positions, which were at record levels.

Sentiment will swing back in favor of a Federal Reserve rate hike in August if June retail sales rebound.

Should the weak economic tone persist into early second quarter data, the risk of a summer rate cut increases.

Now they are less than 50 percent confident that there will be any rise.

My sense is we're basically moving sideways. All we did today is chop around.

On the fringes of the market, there is beginning to be some talk of the possibility that the Bank of Japan intervenes to sell U.S. dollars. While possible, the probability seems low at the present.

On the one hand, being labeled a foreign exchange manipulator is a toothless policy because it simply requires bilateral talks. Big deal. On the other hand, by citing them the administration demonstrates to an uppity Congress that it is on the case and steals their thunder.

If this is an escalation ladder, we're still on the very early rungs.

It does appear that they used the trip to provide cover for delaying a full vote on their bill which would impose a 27.5% tax on all imports from China if it did not allow the yuan to appreciate significantly with six months of passage of the bill.

That's the way the market is viewing that. But I'm not sure that it effect money supply.

With the ECB out of the way and now the job data out of the way, we're in for another good dollar run.

The push the dollar is getting is partly on the back of stronger-than-expected housing data. It's not just that housing starts are up. Permits were expected to fall.

The pendulum has swung back in favor of a March rate hike. The dollar-bull camp is based on the interest-rate differentials. They have really renewed their widening.

We still don't know how many more rate hikes there are in the cycle and the minutes don't really shed light on that. But rate hike increases are probably not large.

Today's comments are back on messages, noting as several European officials have said in recent days, that the G7 statement was aimed at Asia, not Europe. This has helped push the euro to new five-week lows against the yen.

The quiet in the market has more to do with the holiday than it does with the strike. Foreign exchange is such a global market that if there's a staffing problem in New York City, they can pick up the slack in London or in other centers.

Through this tightening cycle the market has looked at every opportunity to say the Fed is done. The Fed is not done until the market gets ahead of the Fed and it is not there yet.

We should be looking at a Fed statement that increases the view of a March rate hike, and our view is that fed funds will be 5 percent by mid-year.

Brazil is caught in a combination of its own policy mistakes and powerful market forces.

Coordinated intervention, including Japan intervening on the euro against the yen for the first time, would be the best thing that could happen for the euro.

There's no evidence that foreigners are tiring of U.S. assets. This continues to underpin the dollar.

There's no evidence that foreigners are tiring of US assets. The US trade deficit is more than being financed by foreign investment. This continues to underpin the dollar.

Once we got through an important technical level that triggered a lot of stops. We went through the level that the technicians thought was a bottom.

Demeaning is in the eye of the beholder.

Companies are not helpless in fluctuating currencies. But if you listen to these U.S. companies, you only hear about it when the currency situation hurts them, never when it helps them. I'll listen to these excuses when they acknowledge that this stuff cuts both ways.

There's been a turn in psychology. It has been buy-the-dips. Now it is sell-the-rallies.

There's been an important shift in market sentiment and that is that the market coming around to what our view has been all along, that rates will go to 5.0 percent by mid-year and the market is beginning to price in 5.25 percent by the end of the year.

It's unreasonable to expect currency movements to affect trade balances when you have all these other disequilibria like wages.

The Federal Reserve purposely seeks not to surprise the market. And it delivered no surprise today, keeping rates steady. The statement following the meeting confirmed what the market has suspected, namely that demand is moderating bringing it closer to the economy's growth potential.

I'm confident that no member of the public saw our commercial or logo or telephone number and thought we were actually pit bulls or thought we were actually going to maim somebody or attack somebody.

I'd say hedging has nothing to do with what we've seen in the trade data.

The economic performance is taking on even great significance in the market's understanding of the trajectory of Fed policy. Any disappointment with the Philadelphia Fed Survey could lead to renewed dollar selling.

The market has a strong predisposition to expecting a peak at 4.5 percent, as no month has a 4.75-percent rate completely discounted.

Cisco has not and does not design products for the purpose of political censorship.

It's a great opportunity to lower costs without sacrificing quality. If a retailer is not leveraging this capability, they are certainly missing something.