The Grinch stole Xmas; A wrap-up on on our 2015 'anti-forecasts'; plus a look the less talked about China: its currency

It hasn't been much of a break for global investors. The Grinch stole Christmas, with a US rate hike leaving markets confused as to whether they should be worried - it falls by 4% before Xmas - or excited that the wait is over, so it rallies by 4% up the 30th. It then had second thoughts this week and has fallen 4% again, thus having traveled 16% since the 14th December to end where it started..at 2000 on the SPX. Our Half year outlook is out in 2 weeks where we examine what the rate increase means in our opinion, but today we wrap our 2015 results of forecasts on the US Dollar and the Euro. We also look what has been going on in the Chinese currency market of late and think the moves here are more instructive than the daily 5% moves on the Shanghai Exchange. See link here (VIEW LINK)