Hard Currency

Two central banks held firm this week. But while the Bank of Japan’s grip on its currency slipped, Federal Reserve chair Janet Yellen stayed very much in control of the dollar, as Derek Halpenny of Bank of Tokyo Mitsubishi explains to Roger Blitz.

 

Sterling and the euro are moving one way then the other in rapid order. Charles St Arnaud of Nomura tells Roger Blitz how FX moves are becoming very short-term, as investors fret about holding positions for too long.

 

A breathless rally in emerging market FX begs the obvious question: will it last? Claire Dissaux of Millennium Global Investments tells Roger Blitz what will influence the rally and which parts of EM look more attractive than others.

 

When will the Bank of Japan say enough is enough on this yen rally? BNY Mellon’s Simon Derrick discusses the big dollar pullback with Katie Martin and explains which buzzwords from Tokyo matter.

 

Federal Reserve Janet Yellen is becoming more dependent on the market than data in determining monetary policy. Steven Barrow of Standard Bank tells Roger Blitz why that’s not a good idea.

 

Market turmoil has given way to market calm. Is it down to a currency wars truce, and how long will the calm hold? Adam Cole of RBC Capital Markets tells Roger Blitz it won’t last.

 

Why did the Federal Reserve turn so dovish? Citigroup FX strategist Steven Englander offers his theories to Roger Blitz, and explains why global factors are playing such a key role in determining the US rate hike path

 

Wild movement sent the euro all over the FX shop after the European Central Bank meeting. Themos Fiotakis of UBS sifts through the debris and tells Roger Blitz why it all adds up to one thing – low growth and low rates ain’t going away any time soon.

 

Investor behaviour in 2016 feels schizophrenic, Matthew Cobon of Columbia Threadneedle tells Roger Blitz. What does that mean for the rest of the year and how does it influence FX trading strategies?

 

Sterling’s fall following London mayor Boris Johnson’s backing for the Leave campaign in the UK referendum is all about an aimless FX market needing direction, Peter Rosenstreich of Swissquote tells Roger Blitz.