Collinson FX: August 25: Fed Reserve sets markets on fire
by Collinson FX 24 Aug 19:16 PDT
25 August 2025
Varuna IV/6 – Start 2025 Rolex Fastnet Race – Cowes – July 25, 2025 © Richard Gladwell – Sail-World.com/nz
US Federal Reserve Chairman Powell set markets on fire Friday, finally accepting the need to cut rates, buckling under enormous pressure from President Trump.
The speech was the keynote address to the Jackson Hole Central Banker Symposium and seemingly accepted economic conditions now demand rate cuts.
It will not save his job, as ‘too late’ lives up to the Trump nickname, with his approach probably based on political ideology.
The US Dollar tanked, with the EUR busting through 1.1700, while the GBP topped 1.3500.
The falling reserve allowed some recovery of the commodity currencies, with the AUD heading back towards 0.6500, while the NZD regained 0.5850. This coming week will be dominated by global growth and inflation data, with the European lack of growth explaining the stunted inflation. US growth should be strong, while inflation is likely to confirm Powells ‘conversion’.
About Varuna IV/6 (above): Varuna IV, a Ker 56 yacht owned by German sailor Jens Kellinghusen, competed in the 2025 Rolex Fastnet Race under the name Varuna 6. Designed by Jason Ker, the Ker 56 is renowned for its high-performance offshore racing capabilities. In the 2025 race, Varuna 6 was a strong contender in the IRC Zero class, closely trailing the Australian yacht Whisper. The crew included experienced sailors such as Volvo Ocean Race veteran Roberto ‘Chuny’ Bermudez de Castro. Varuna 6’s performance was particularly notable in the downwind leg after rounding the Fastnet Rock, leveraging its design strengths to close the gap on competitors – rolexfastnetrace.com.
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