15 Quotes by Steve Pearson

Sentiment was extreme and totally against the yen, and that's why we saw it getting stronger. When everybody is positioned for one outcome, then you've got to ask yourself where the marginal buyers are going to come from.

Some of the risks associated with rate cuts have dissipated for sterling. We expect rates to remain on hold as the economic picture in the U.K. stabilizes.

Markets are sensing the Fed needs to do more even though US economic data have become more mixed.

It was almost a reflex reaction. If you have a good friend who can use your help, you just do it. It's all about coming to the aid of someone you care about deeply.

The story of the current account deficit allowed traders and analysts to justify any currency prices. Sentiment got overly bearish on the dollar.

The story of 2005 was the dollar defying an overwhelmingly bearish consensus. The dollar has little to fear from a slowdown in U.S. consumption growth as this will eventually lead to an improved external trade position.

The strong US employment report serves as reminder that upside risks to US short rates linger.

Any significant weakness in the housing data would be dollar negative suggestive of a slowing economy, thus reducing the amount of monetary tightening required from the Fed.

It's possible that the deficit actually becomes a positive factor for the dollar as people see it narrowing. That will allow the dollar to rally even as growth in the U.S. slows down and the Fed stops raising rates.