FT Hard Currency

FT Hard Currency

Financial Times foreign exchange correspondent Roger Blitz talks to experts on the currencies market about the week ahead, looking at the global political and economic factors driving the world’s largest market.

10 minutes 36 seconds

Death of the dollar bears

The US currency's ascent in 2018 has surprised many analysts and investors. The reflation trade that followed the election of Donald Trump was not expected to last. Stephen Gallo of the Bank of Montreal tells Michael Hunter why the rally has endured, and outlines the wider factors setting the pace for the euro, emerging market currencies and the pound.

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4 October 2018, 11:11 am
10 minutes 47 seconds

Markets on horns of euro-dollar dilemma

A Federal Reserve rate rise had little impact on the dollar while ECB president Mario Draghi drove the euro higher with optimistic comments on eurozone wages and inflation. But is that enough for a sustained market push to buy euros and sell dollars? Jeremy Thomson-Cook of World First gives his thoughts to Roger Blitz and looks at the the effect of growing trade tensions on emerging market currencies
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27 September 2018, 4:35 pm
11 minutes 39 seconds

Brexit, trade tensions, and why investors don't look too fussed

Trade tensions are hotting up, Brexit talks are souring and the Federal Reserve is gearing up for another rate hike, yet currencies in the firing line, from emerging markets to sterling, seem unperturbed. Jane Foley of Rabobank tells Roger Blitz why currency moves are not reverting to type
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20 September 2018, 3:11 pm
11 minutes 15 seconds

Wages growth pays dividend for euro and sterling

Inflation strength in Europe and the the UK and weakness in the US were important factors in forex as central banks took centre stage, while Turkey's big interest rate rise helped stabilise emerging markets. Kamal Sharma of BofA Merrill Lynch tells Roger Blitz what that means for the dollar, the euro and the pound, and whether EM currencies are out of the woods
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13 September 2018, 3:16 pm
11 minutes 34 seconds

EM can't catch a break

A week dominated by falls in emerging market currencies, notably the South African rand, is triggering another bout of concern that the problems that afflicted the Argentine peso and the Turkish lira this year are becoming contagious. Kit Juckes of Société Générale discusses with Roger Blitz the reasons why EM are again under pressure and what it would take for their currencies to gain some respite

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6 September 2018, 12:30 pm
8 minutes 55 seconds

Pushed around by politics

The British pound, Argentina's peso and Turkey's lira: all of them in the news and all getting pushed around (albeit in different directions) by politics. Katie Martin talks to Eoin Murray, head of investment at Hermes, about what the moves are telling us and what these shocks tell us about global market conditions.
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30 August 2018, 3:15 pm
11 minutes 24 seconds

Troubling Trump depresses the dollar

The dollar came under pressure on two fronts this week - Donald Trump's impeachment risk and the president's disparaging remarks about the Federal Reserve for raising US interest rates. But it is the Fed's own views, with a tilt to the dovish side, that should see the dollar lose the momentum of recent months, Société Générale's Alvin Tan tells Roger Blitz. That should mean renewed strength for the euro and yen, but not necessarily for emerging market currencies.
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23 August 2018, 3:37 pm
12 minutes 54 seconds

Turkish turmoil raises markets' temperature

Turkey's troubled lira, worries about emerging market currencies and the impact of sanctions and tariffs on the rouble and renminbi have put foreign exchange at the heart of the financial market's traditional August anxiety. Derek Halpenny of MUFG discusses with Roger Blitz the longer term implications of the weeks of summer turmoil, and offers a note of caution on the rising dollar
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16 August 2018, 3:20 pm
11 minutes 30 seconds

Dollar to drive on, pound to stay pat

Federal Reserve chair Jay Powell this week injected renewed vigour into the dollar, while weak data and Brexit woes undermined the pound. David Bloom of HSBC tells Roger Blitz why the case for continued dollar strength is more convincing than the case for further sterling weakness.
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19 July 2018, 4:39 pm
12 minutes 20 seconds

Pound takes a pass on Boris blow-out

Investors treated the UK foreign secretary's resignation with little concern, leaving the pound poised for a rally as the prospect of a softer Brexit looms into view. Ugo Lancioni of Neuberger Berman tells Roger Blitz why he is a buyer of sterling, and looks at the implications of trade tensions on the market
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12 July 2018, 4:59 pm
11 minutes 20 seconds

China plays its currency card

China's central bank verbally intervened to stabilise the renminbi after a fall that echoed the dramatic declines of 2015-16. Stephen Gallo of Bank of Montreal tells Roger Blitz what we learned about China's currency strategy and argues that G10 policy normalisation is back on track, which should see the euro push higher
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5 July 2018, 3:25 pm
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