FT Hard Currency

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.This is the final edition of Hard Currency before the podcast is relaunched, taking a fresh approach to a wider range of markets. Please stay subscribed to be among the first to hear it.  Hosted on Acast. See acast.com/privacy for more information.

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 Hosted on Acast. See acast.com/privacy for more information.

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 Hosted on Acast. See acast.com/privacy for more information.

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 Hosted on Acast. See acast.com/privacy for more information.

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 Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.

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.  Hosted on Acast. See acast.com/privacy for more information.

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 Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.

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 Hosted on Acast. See acast.com/privacy for more information.

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   Hosted on Acast. See acast.com/privacy for more information.

Investors have barely had time to acknowledge that there is an EU summit taking place, as trade wars and China worries occupy their thoughts. But as John Wraith of UBS tells Roger Blitz, that's not to say they are complacent about the implications of a slowing eurozone economy and rising populism on the continent Hosted on Acast. See acast.com/privacy for more information.

The emerging markets sell-off is starting to weigh on Asian currencies. Mansoor Mohi-uddin of NatWest Markets explores the reasons with Roger Blitz, looking at the impact of trade tensions on China and Federal Reserve chair Jay Powell's ambivalence towards EM economies  Hosted on Acast. See acast.com/privacy for more information.

A big week in the policy making world saw the US Federal Reserve plough on with rate hikes while the European Central Bank took a more dovish approach, even though it set a timetable for the end of asset purchases. Michael Sneyd of BNP Paribas tells Roger Blitz what that means for the euro and the dollar.  Hosted on Acast. See acast.com/privacy for more information.

European Central Bank policymakers warmed up investors to a potentially big announcement next week on asset purchases and normalisation, sending the euro higher. Does this mark the end of the dollar rally? Not so fast, Rabobank's Jane Foley tells Roger Blitz - there is less to this ECB strategy shift than meets the eye. Hosted on Acast. See acast.com/privacy for more information.

Markets were guilty of complacency about Italy, says Adrian Hilton of Columbia Threadneedle, failing to appreciate the existential threat to the euro. He tells Roger Blitz what this week's fallout in bonds and currencies means for investors' risk appetite for the rest of 2018  Hosted on Acast. See acast.com/privacy for more information.

The Turkish lira's collapse has emerging market investors wondering whether there is any case for continuing to hold assets there. Yerlan Syzdykov of European asset manager Amundi, who was among those investors to lunch with president Recep Tayyip Erdogan in London last week, examines the pros and cons with Roger Blitz Hosted on Acast. See acast.com/privacy for more information.

Local factors are contributing to sharp falls in the currencies of Argentina and Turkey, but other emerging markets cannot escape the impact of the dollar's strength. Simon Quijano-Evans of Legal & General Investment Management looks at the implications for EM and tells Roger Blitz why the US cannot ignore the sell-off for too long Hosted on Acast. See acast.com/privacy for more information.

The rout in emerging market currencies has exposed investors to an uncomfortable realisation - they were too willing to buy the EM rally at the start of the year, says Roger Hallam of JP Morgan Asset Management. He spells out to Roger Blitz the lessons of this episode  Hosted on Acast. See acast.com/privacy for more information.

The sharp rally in the dollar has investors asking whether it is sustainable or about to fizzle out. Simon Derrick of BNY Mellon has the answer, and as he tells Roger Blitz it’s all to do with yield. Hosted on Acast. See acast.com/privacy for more information.

A rising dollar and a rising oil price are two of the big market moves of the week. But as Bill McQuaker of Fidelity International tells Roger Blitz, the biggest was the 10-year Treasury yield hitting 3 per cent, signalling the end of the bond bull market and the start of a more turbulent phase for markets. Hosted on Acast. See acast.com/privacy for more information.

Despite global growth, investors are struggling to find a driver, not just in foreign exchange but in other markets. What's causing this doubt and introspection? Helen Thomas of macro-economic consultancy Blonde Money tells Roger Blitz that three market tremors of recent weeks, related to electronically-traded funds, are behind investor uncertainty  Hosted on Acast. See acast.com/privacy for more information.

With some notable exceptions, currencies are spookily quiet in the middle of tensions over trade, signs of slowing growth in Europe, and the ever-present risk that Twitter spats could spiral into geopolitical crises. But Tim Graf of State Street Global Markets tells Katie Martin that's what currencies are supposed to do. Embrace the calm, but keep an eye on the Turkish lira and rouble. Hosted on Acast. See acast.com/privacy for more information.

Trade tensions and equity sell-offs should be making investors wary of risky emerging market assets. But Wike Groenenberg of BNP Paribas tells Roger Blitz why EM is proving resilient to market pressures and looks at the factors that will influence its performance for the rest of the year   Hosted on Acast. See acast.com/privacy for more information.

January's euphoria seems a world away as volatility infects markets, but Silvia Dall'Angelo of Hermes Investment Management tells Roger Blitz that economic fundamentals are still sound and the dollar remains under pressure. The big worry, however, is a widening trade war. Hosted on Acast. See acast.com/privacy for more information.

A Fed rate hike, market tensions about tariffs, a Brexit transition deal and Bank of England hawkishness - Erik Norland of CME Group tells Roger Blitz why things are looking up for sterling and less promising for the greenback Hosted on Acast. See acast.com/privacy for more information.

How big an impact is the prospect of an international trade dispute centred on US tariffs having on the foreign exchange market? Viraj Patel joins the FT's Michael Hunter to look at the main factors moving currencies, including economic fundamentals and the outlook for interest rates Hosted on Acast. See acast.com/privacy for more information.

The European Central Bank is creeping towards the exit from super-stimulative monetary policy. How can it do this without sending the euro flying, particularly while US trade policy unnerves dollar bulls? Stephen Gallo from BMO Capital Markets talked to the FT's Katie Martin about Trump, trade, and taper tantrums. Hosted on Acast. See acast.com/privacy for more information.

New Federal Reserve chair Jay Powell's optimistic view of the US economy and faster rate hikes caused stocks to sell off and the dollar to rise. But Jean Medecin of Carmignac thinks this outlook is too rosy, and that the world needs to get used to the idea of slowing global growth and static inflation. Hosted on Acast. See acast.com/privacy for more information.

Federal Reserve hawkishness and market nerves have given the dollar a reprieve from depreciation, but reasons for its weakness far outweigh reasons why it may rebound. Bilal Hafeez of Nomura tells Roger Blitz that not only are we in a dollar bear market but we've been trading it for a year and it's got several years to go. Hosted on Acast. See acast.com/privacy for more information.

Foreign exchange investors have sat out much of the recent market volatility. Roger Hallam of JPMorgan Asset Management joins Michael Hunter to look at why dollar weakness has proved so stubborn and to identify the‎ wider market trends. Hosted on Acast. See acast.com/privacy for more information.

Was it a market turmoil, a crash? Or just a jolt, a correction? Whatever your description of this week's equities sell-off, it adds up to a healthy adjustment to a market that is better placed for volatility, as the world gets used to rising inflation and rate rises. That's the view of Max Kettner of Commerzbank, who also discusses with Roger Blitz the surprisingly hawkish Bank of England meeting and the fluctuating dollar  Hosted on Acast. See acast.com/privacy for more information.

The apparent fondness for a weaker dollar among US administration officials has been enough to prompt HSBC's David Bloom to rip up his forecasts. But he tells Katie Martin that this is no currency war. In fact, currencies are on a path to peace and harmony. Hosted on Acast. See acast.com/privacy for more information.

US Treasury secretary Steven Mnuchin sent forex traders' screens into meltdown when he said a weak dollar was in US interests. With trade tensions adding to currency volatility, Tim Graf of State Street talks to Roger Blitz about how much more the dollar could suffer from this double whammy, how Europe and China might respond and whether the gains being enjoyed by the euro, the yen and sterling are justified.  Hosted on Acast. See acast.com/privacy for more information.

2018 has so far seen the dollar fall - but why? Rising Treasury yields, strong US growth and a Federal Reserve all set to raise rates three times this year should be giving the greenback some impetus, but the opposite is happening. Adam Cole of Royal Bank of Canada Capital Markets admits it is hard to understand, but tells Roger Blitz why it may be happening, and looks ahead to next week's keenly-anticipated European Central Bank meeting Hosted on Acast. See acast.com/privacy for more information.

Data, rumours and policy announcements big and small caused notable forex moves, including swings towards the euro and the yen, as investors rushed to grab the initiative at the start of 2018. Viraj Patel of ING sifts through the evidence and tells Roger Blitz which currency he thinks is this year's one to watch  Hosted on Acast. See acast.com/privacy for more information.

2017 was a year of transition, says Nick Gartside of JP Morgan Asset Management, as growth became more global and central banks adjusted monetary policy towards normalisation. That sets up 2018 as a year for accelerated growth and rising inflation, he tells Roger Blitz, and that means the euro is going to grow further at the dollar's expense as the ECB steps up tapering.  Hosted on Acast. See acast.com/privacy for more information.

BNY Mellon's Simon Derrick talks to Katie Martin about the curious case of stable sterling, the pending wave of tighter monetary policy, and the hidden signs of nerves in global markets. Hosted on Acast. See acast.com/privacy for more information.

Roger Blitz discusses the impact on the currency markets of signs of Brexit breakthroughs and movement on US tax cuts with Richard Benson of Millennium Global.  Hosted on Acast. See acast.com/privacy for more information.

The German chancellor's coalition problems had only a fleeting impact on the euro, as investors were more interested in rising business confidence in the eurozone. George Papamarkakis of North Asset Management tells Roger Blitz why the single currency is in good shape and why the Swedish krona is also heading higher despite a big fall this week Hosted on Acast. See acast.com/privacy for more information.

Market jitters have hit equities, junk bonds and emerging market currencies. Is this something for forex investors and others to worry about? No, State Street's Michael Metcalfe tells Roger Blitz, but although the global economy remains in "Goldilocks" territory, surprise upside inflation data could change all that.  Hosted on Acast. See acast.com/privacy for more information.

Donald Trump's election victory 12 months ago set off a dollar rally and protectionism fears, and heightened political risk in Europe. Roger Blitz asks Eoin Murray of Hermes Investment Management whether markets are more immune to shock, if benign forex conditions will last and what to watch out for in 2018. Hosted on Acast. See acast.com/privacy for more information.

The first Bank of England rates hike in a decade left forex investors underwhelmed. With the economy sluggish and wage growth limited, John Wraith of UBS tells Roger Blitz why BoE governor Mark Carney is risking a policy mistake  Hosted on Acast. See acast.com/privacy for more information.

In the week the European Central Bank outlined its plans to wind down stimulus, Stephen Gallo of the Bank of Montreal joins Michael Hunter to tune into the signals hidden in the noise Hosted on Acast. See acast.com/privacy for more information.

Investors couldn't help notice the impasse in negotiations over Nafta, Brexit and Catalonia, but did they care very much? Michael Sneyd of BNP Paribas tells Roger Blitz why the foreign exchange market is more interested in central bank developments than talks deadlock  Hosted on Acast. See acast.com/privacy for more information.

Investors brushed off the plunge in the lira as a Turkish difficulty rather than wider issues with emerging market currencies. Is EM FX less vulnerable these days to contagion, or are there more pressing worries for EM, such as a rising dollar, China growth concerns and commodity price movements? Sergei Strigo of asset manager Amundi discusses its prospects with Roger Blitz Hosted on Acast. See acast.com/privacy for more information.

Whether it is the choice of Federal Reserve chair, Japan's election, Theresa May's chaotic speech or Catalonia's bid for independence, leadership has been the dominant theme moving currencies, as Itay Tuchman of Citigroup explains to Roger Blitz Hosted on Acast. See acast.com/privacy for more information.

Politics was the driver of the forex market at the start of the year, but its influence is now waning, says HSBC's David Bloom. Investors are far more focused on monetary policy and interest rate differentials, he tells Roger Blitz, although pockets of political risk persist Hosted on Acast. See acast.com/privacy for more information.

A hawkish Federal Reserve pushed the dollar higher, but investors stopped short of igniting a full-throttle greenback rally. That is because their focus is on the interest rate deliberations of other central banks, Swissquote's Peter Rosenstreich tells Roger Blitz, with the European Central Bank the one being watched most closely Hosted on Acast. See acast.com/privacy for more information.

The Bank of England is leaning towards a rate hike, pushing the pound higher. But does UK data justify the bank's hawkishness, and is sterling's elevated level warranted in the context of ongoing Brexit uncertainty? Jeremy Cook of World First talks to Roger Blitz about BoE governor Mark Carney's options. Hosted on Acast. See acast.com/privacy for more information.

Worries about euro volatility featured heavily in ECB president Mario Draghi's press conference this week. But if he was trying to talk down the euro, he failed, says Commerzbank's Max Kettner. He tells Roger Blitz what this means for the euro now and looks at other factors likely to move the currency Hosted on Acast. See acast.com/privacy for more information.

After a hammering from Donald Trump's election, emerging market currencies have sprung back in style. Paul McNamara from GAM talks to Katie Martin about Donald's dollar, global growth, and whether Tajik bonds are the latest sign of exuberance. Hosted on Acast. See acast.com/privacy for more information.

Is the dollar flickering back into life and when will the pound reach its bottom against the euro? Richard Blackden puts these questions to Simon Derrick of BNY Mellon. Hosted on Acast. See acast.com/privacy for more information.

Sterling found support this week after strong wages and jobs data. The rebound followed lacklustre inflation data, but after a multi-decade high for employment and a forecast-beating rise in incomes, have the Bank of England's hawks been left with more room to fly? Nick Gartside, International CIO of Fixed Income at JPMorgan Asset Management thinks so, and explains why to Michael Hunter. Hosted on Acast. See acast.com/privacy for more information.

Geopolitical risk made its presence felt across the currencies spectrum this week, as Donald Trump and Kim Jong Un clashed over North Korea's nuclear ambitions. Lee Hardman of MUFG joins Michael Hunter to measure the market's reaction. Hosted on Acast. See acast.com/privacy for more information.

The pound received a pummeling after the Bank of England voted 6-2 to leave rates on hold and cut growth forecasts in its quarterly inflation report. John Wraith, head of UK rates strategy and economics at UBS joins the FT's Michael Hunter to plot where the pound fits in with the shifting outlook for monetary policy under the shadow of Brexit. Read more at Brexit uncertainty is holding back investment, Mark Carney warns Hosted on Acast. See acast.com/privacy for more information.

The world's reserve currency hit a 14-month low after the Fed's statement on monetary policy this week. Concern about the US central bank's preoccupation with softer-than-expected inflation put the dollar under broad pressure. Stephen Gallo, European Head of FX Strategy at Bank of Montreal, joins Michael Hunter to assess the shifting policy outlook at the Fed, the European Central Bank and the Bank of England. Hosted on Acast. See acast.com/privacy for more information.

If ECB president Mario Draghi was hoping his press conference would temper market expectations about tapering, he didn't succeed, as the euro pulled higher. Valentin Marinov of Credit Agricole looks at the key takeaways from the ECB meeting and concludes that tapering is indeed coming, so long as the euro doesn't appreciate too fast Hosted on Acast. See acast.com/privacy for more information.

Canada raised rates, unworried that inflation remains below target. But doubts about inflation targeting resurfaced in the US. Kamal Sharma at Bank of America Merrill Lynch tells Roger Blitz why central bank views on prices differ, and how the debate will shape monetary policy in the UK and Europe Hosted on Acast. See acast.com/privacy for more information.

Central bankers are thinking of turning off the taps all over the world, sending markets into a spin. But with the trend so widespread, it's tough to see where this leaves currencies, Peter Schaffrik of RBC tells Katie Martin. Hosted on Acast. See acast.com/privacy for more information.

Markets took their cue from policymakers' speeches at a central bank gathering this week to inject new life into the euro and the pound. But Steven Saywell of BNP Paribas tells Roger Blitz that he believes they are too bearish about the US and are mispricing the dollar Hosted on Acast. See acast.com/privacy for more information.

The Bank of England split highlights how central banks are preparing to end years of easing and shift to monetary tightening. But how fast will the change come and how will the pound and other currencies respond? Commerzbank's senior economist Peter Dixon discusses the moves with Roger Blitz, and looks at how the causes of inflation and the way it is measured are also under review. Hosted on Acast. See acast.com/privacy for more information.

Bilal Hafeez of Nomura steers Roger Blitz through a turbulent forex week, which saw markets downplay the hawkish rate hike of the Federal Reserve, buy and sell the pound on a hung parliament, Brexit uncertainty and Bank of England dissent and get caught out by Canadian policymakers' change of tune. Hosted on Acast. See acast.com/privacy for more information.

The election of a minority Tory government has thrown the UK into another bout of political uncertainty, yet investors are not rushing to ditch sterling. Kit Juckes of Societe Generale and Simon Derrick of BNY Melllon tell Roger Blitz why its relative cheapness and prospects of a soft Brexit are keeping the pound afloat, but they doubt whether the currency can withstand the turbulence of a hung parliament Hosted on Acast. See acast.com/privacy for more information.

Derek Halpenny from MUFG joins Michael Hunter to assess the outlook for the pound in the final run-up to the UK election, and also takes a look at the political risk faced by a resurgent euro Hosted on Acast. See acast.com/privacy for more information.

A stronger euro, a weaker dollar, a nervous pound - currencies sparred with each other but none looked capable of delivering a knockout blow. Tim Graf of State Street tells Roger Blitz why the market is in a circumspect, defensive mood Hosted on Acast. See acast.com/privacy for more information.

A frenzied week in forex saw the dollar and emerging market currencies come under fire, while investors loved the euro and took the pound through $1.30. Jane Foley of Rabobank sifts through the moves and tells Roger Blitz that while Donald Trump's woes were a catalyst, the big investor worry is about China and the US economy. Hosted on Acast. See acast.com/privacy for more information.

China is tightening liquidity, commodities have fallen, oil is volatile. So why is Goldman Sachs' Kamakshya Trivedi upbeat about emerging market currencies? It's all about current account balances, inflation, very good trade data and a shift in political risk, he tells Roger Blitz Hosted on Acast. See acast.com/privacy for more information.

Millennium Global's Richard Benson talks to Roger Blitz about the forex developments of the week, including the pound's resilience in the face of a furious Brexit brawl and the likely impact on the dollar and the euro if next month delivers both a US rate hike and ECB tapering signals Hosted on Acast. See acast.com/privacy for more information.

There are too many snags to offer a convincing case for buying the dollar, the euro and sterling, says Adrian Owens of GAM. He tells Roger Blitz why he thinks there are better opportunities in emerging market currencies Hosted on Acast. See acast.com/privacy for more information.

Theresa May's snap election caused a surge in the pound and had investors purring at the idea that a smooth Brexit is coming. Roger Hallam of JP Morgan Asset Management tells Roger Blitz whether he thinks the market's optimism is justified and looks at the euro's prospects after Sunday's first round in the French presidential election. Hosted on Acast. See acast.com/privacy for more information.

Investors seemed fairly relaxed about the French presidential election until far-left candidate Jean-Luc Mélenchon spoiled their mood by polling strongly. Nomura's Jordan Rochester tells Roger Blitz what his emergence spells for the euro and explains how to trade the markets between the first and second rounds of the election. Hosted on Acast. See acast.com/privacy for more information.

The official start of Britain's negotiations to leave the EU hasn't done further damage to the pound. But George Saravaleos, head of currency research at Deutsche Bank, says that the messy politics of Brexit will eventually catch up with sterling. Hosted on Acast. See acast.com/privacy for more information.

The first quarter's popular bets - strong dollar, weak peso, high yields - did not pan out the way investors expected. But Ugo Lancioni of Neuberger Berman tells Roger Blitz that the next few months promise decent returns in forex despite ongoing worries about political risk Hosted on Acast. See acast.com/privacy for more information.

Not many, says Steven Barrow of Standard Bank. There may be some short-term upside for the euro, the pound and emerging market currencies, he tells Roger Blitz, but none of these are likely to stay supported as investors itch to revive the dollar rally. Hosted on Acast. See acast.com/privacy for more information.

A dovish Federal Reserve is giving grief to the greenback, but Sam Lynton-Brown of BNP Paribas tells Roger Blitz there is good reason to expect the dollar to keep rising, while there is a fair chance that sterling will enjoy short-term support Hosted on Acast. See acast.com/privacy for more information.

Strong Eurozone growth and inflation has increased talk about the European Central Bank moving away from easy monetary conditions. But Max Kettner of Commerzbank tells Roger Blitz why the case for a stronger euro is balanced at best Hosted on Acast. See acast.com/privacy for more information.

Hawkish rhetoric from Federal Reserve officials was the big dollar driver this week, but Steven Englander of Citigroup tells Roger Blitz why investors should still keep faith in the Trumpflation trade Hosted on Acast. See acast.com/privacy for more information.

Itchy investors are saying goodbye and good riddance to February in the forex market. Kathleen Brooks of City Index tells Roger Blitz that there is much more to look forward to in March, but for the moment, dollar uncertainty is the dominant theme, followed by rising European political risk and a more measured view of Brexit Hosted on Acast. See acast.com/privacy for more information.

The pound has proved surprisingly resilient around the $1.25 level, even as inflation data out this week looked lacklustre. Koon Chow of UBP tells Michael Hunter what is on the watchlist for the UK currency and takes a tour or the agenda for the dollar and the euro Hosted on Acast. See acast.com/privacy for more information.

Donald Trump is golfing with Japan's prime minister, with currency manipulation high on the agenda. Jeremy Cook of World First tells Roger Blitz what the FX implications are likely to be, and also weighs up political risk on the euro Hosted on Acast. See acast.com/privacy for more information.

US protectionism may be more talk than action, but that's not to say it won't have a currencies impact. Athanasios Vamvakidis of BofA Merrill Lynch tells Roger Blitz why, and also explains how to apply game theory to a Brexit transition deal and what that means for the pound Hosted on Acast. See acast.com/privacy for more information.

Mexico's peso is too competitive for its own good, Stephen Gallo of Bank of Montreal tells Roger Blitz - but it is in also in US interests to conclude a mutually acceptable renegotiation of Nafta Hosted on Acast. See acast.com/privacy for more information.

The pound's rally following the UK prime minister's Brexit speech and Donald Trump's problems with a strong dollar dominated currency markets - even before inauguration day. Paul Lambert of Insight Investments walks Roger Blitz through another week of FX fluctuations Hosted on Acast. See acast.com/privacy for more information.

Investors were left baffled and disappointed by Donald Trump's lack of policy detail at his feisty press conference. Jane Foley of Rabobank tells Roger Blitz why market scepticism about the reflation trade is growing and what that means for the dollar rally Hosted on Acast. See acast.com/privacy for more information.

A 14-year high for the dollar, the renminbi's best-ever two-day gain, a sharp dollar correction and a central bank intervention. David Bloom of HSBC walks Roger Blitz through the frantic foreign exchange start to the year and concludes that the dollar rally is nowhere near over. Hosted on Acast. See acast.com/privacy for more information.

Simon Derrick of BNY Mellon looks back on a trumultuous year in the foreign exchange market, and gives Roger Blitz his predictions of the big market events for 2017 Hosted on Acast. See acast.com/privacy for more information.

The Federal Reserve's hawkish position, which is driving dollar strength, is not a response to Donald Trump and the prospects of fiscal stimulus, Mark Astley of Millennium Global Investments tells Roger Blitz, but a reappraisal of the strength of the US economy Hosted on Acast. See acast.com/privacy for more information.

After the turbulence of 2016, Saxo Bank chief economist Steen Jacobsen dares to offer Roger Blitz his predictions for next year, including a stronger pound and yen, and a dollar that disappoints its bull advocates Hosted on Acast. See acast.com/privacy for more information.

November awoke investors' animal spirits, no more so than in the dollar rally, but Alan Wilde of Barings tells Roger Blitz that pitfalls lie in the way throughout December Hosted on Acast. See acast.com/privacy for more information.

The US currency is on a tear, but it's not all down to Donald Trump, Silvia Ardagna from Goldman Sachs tells Katie Martin. With investors finally catching up to US economic strength, an overshoot in the buck is easy to imagine. Hosted on Acast. See acast.com/privacy for more information.

A market that is learning to tread cautiously when it comes to politics has become remarkably gung-ho about what Donald Trump's election victory means for the dollar and the US economy. Kamal Sharma of Bank of America Merrill Lynch tells Roger Blitz why investors are piling into the greenback and treating the euro with caution Hosted on Acast. See acast.com/privacy for more information.

We don't know which of his policies President Trump will be able to implement, Nomura's Bilal Hafeez tells Roger Blitz - but it's a pretty reasonable bet that a period of dollar strength is coming Hosted on Acast. See acast.com/privacy for more information.

Political risk once again messed with foreign exchange investors, putting pressure on the dollar in the week before the US election and boosting the pound. Paul Lambert at Insight Investment tells Roger Blitz why this is no time for conviction trading Hosted on Acast. See acast.com/privacy for more information.

Geoffrey Yu of UBS Wealth Management puts this week's record low for the offshore version on China's currency into context, and tells Michael Hunter what the market will be looking at for the renminbi towards the end of 2016. Hosted on Acast. See acast.com/privacy for more information.

Expectations this week of big moves in the pound, the dollar and the euro all failed to materialise. Simon Derrick of BNY Mellon tells Roger Blitz why this may not last long, as a US election and continuing Brexit worries exercise market minds Hosted on Acast. See acast.com/privacy for more information.

No one likes the pound right now as the market focuses heavily on UK politics, but Steven Saywell at BNP Paribas tells Roger Blitz that investors are leaning too heavily towards selling sterling and so a rebound is on the cards Hosted on Acast. See acast.com/privacy for more information.

Sterling bashers have once again got the upper hand as the UK seems to swing towards a messy divorce from the EU, while eurozone markets are chewing over the potential for the ECB to turn off the stimulus taps. Frederik Ducrozet of Pictet Wealth Management talks about the implications with Katie Martin. Hosted on Acast. See acast.com/privacy for more information.

While rates remain so low in G10 and the Federal Reserve sticks to a gradual rate path, the case for investing in emerging markets just gets stronger, Roger Hallam of JP Morgan Asset Management tells Roger Blitz Hosted on Acast. See acast.com/privacy for more information.

Mexico's rapidly weakening peso shows how the tightening US election polls are focusing market minds on what a Trump-led protectionist policy might mean for America's trading partners. Paul McNamara of GAM discusses with Roger Blitz the implications for emerging markets and US rate expectations Hosted on Acast. See acast.com/privacy for more information.

Could the Federal Reserve learn something about how to communicate to the market from the Swiss National Bank? Peter Rosenstreich of Swissquote and FT Switzerland correspondent Ralph Atkins join Roger Blitz to discuss how currencies respond to policymakerspeak. Hosted on Acast. See acast.com/privacy for more information.

While the European Central Bank tackles a sceptical market, the Bank of England takes credit for surprising UK economic data. But as Rabobank's Jane Foley tells Roger Blitz, it's the US that really calls the shots. Hosted on Acast. See acast.com/privacy for more information.

The market has become more sanguine about the devaluation of the Chinese currency in recent months. Geoffrey Yu of UBS discusses what has changed and tells Rochelle Toplensky what we can expect in the event of a Fed rate rise. Hosted on Acast. See acast.com/privacy for more information.

The pound, the yen and the dollar have dominated FX in 2016, putting the euro in the shade. But as Dominic Bunning of HSBC tells Roger Blitz, there is growing resilience in the performance of the single currency and that is set to continue. Hosted on Acast. See acast.com/privacy for more information.

A pick-up in the pound, a call to rethink Federal Reserve strategy, yen strength and US rate hike talk awoke FX traders from their sunbeds. Societe Generale's Kit Juckes sifts through the week's developments and tells Roger Blitz which of them really matters Hosted on Acast. See acast.com/privacy for more information.

Stephen Gallo from the Bank of Montreal looks back at China' s move to devalue its currency a year ago, and tells Michael Hunter that policymakers have since adopted a softly-softly approach to ensuring the renminbi can reflect the rebalancing of its economy while also adapting to conditons on the global market. Hosted on Acast. See acast.com/privacy for more information.

The Bank of England's rate cut, a stuttering US economy and the ongoing difficulties of the eurozone should help currencies linked to commodities and strong emerging markets, Koon Chow of UBP tells Michael Hunter. Hosted on Acast. See acast.com/privacy for more information.

The outlook for policy at central banks id back at the forefront of the market. Hans Redeker, global head of FX strategy at Morgan Stanley, joins Michael Hunter to discuss if policymakers will ever have conditions that are 'practically perfect in every way' before they can act Hosted on Acast. See acast.com/privacy for more information.

The dollar is on the rise, suggesting the market is either unfazed by the prospect of a Trump presidency or has yet to focus on it. Jordan Rochester of Nomura tells Roger Blitz that a Trump triumph wouldn't be the first "shock" to be ignored by the market Hosted on Acast. See acast.com/privacy for more information.

Steven Englander of Citigroup tells Roger Blitz why global concerns have moved on from the UK's European travails to the search for yield, China and Trump Hosted on Acast. See acast.com/privacy for more information.

The UK vote was a shock, but is it a systemic one? Michael Metcalfe of State Street tells Roger Blitz there are already signs that the rest of the world can quarantine the impact of Brexit around the UK Hosted on Acast. See acast.com/privacy for more information.

With sterling heading south and no sign of an end to UK political instability, the market will be looking to the Bank of England governor to calm nerves, Baring Asset Management's Alan Wilde tells Roger Blitz Hosted on Acast. See acast.com/privacy for more information.

In an EU referendum special, Roger Blitz discusses the short and long-term consequences of the shock victory for the Leave camp with FX strategists Simon Derrick of BNY Mellon and Kit Juckes of Societe Generale. They also discuss where the pain will be felt the most. Hosted on Acast. See acast.com/privacy for more information.

Leaving the EU will have a number of potential knock-on effects, John Wraith of UBS tells Roger Blitz - including a UK rate cut, the return of QE, eurozone pressures and a sharp drop in the pound. But if history is a guide, sterling could well return to current levels once the dust has settled Hosted on Acast. See acast.com/privacy for more information.

On the FX battlefield, investors worry about the EU referendum but not a Trump presidency. That won't last, Jeremy Cook of World First tells Roger Blitz Hosted on Acast. See acast.com/privacy for more information.

The yen hasn't followed the script so far this year, at least that of Japanese prime minister Shinzo Abe and the Bank of Japan. Its rise against the dollar this year is causing a headache, and Morgan Stanley's Hans Redeker tells Richard Blackden why authorities are going to have to live with it. Hosted on Acast. See acast.com/privacy for more information.

A fall in the yuan's daily fix to a five-year low has the market wondering whether China is heading for another bout of currency devaluation jitters. Paul McNamara of GAM tells Roger Blitz that a strong dollar is bound to cause problems for China, but not on the scale of previous episodes of FX volatility. Hosted on Acast. See acast.com/privacy for more information.

You thought dollar weakness was here to stay? Think again, Société Générale's Vincent Chaigneau tells Roger Blitz, as market assumptions are once again turned on their head. Don't assume, however, that a strong dollar means a weak yen and don't be surprised if China currency concerns resurface. Hosted on Acast. See acast.com/privacy for more information.

Markets used to take political risk in its stride - not any more, says Ousmene Mandeng of New Sparta Asset Management. He tells Roger Blitz why markets have become so sensitive to Brexit, Trump and other geopolitical events Hosted on Acast. See acast.com/privacy for more information.

Bad news is good news, HSBC's David Bloom tells Roger Blitz, as a weak dollar and Federal Reserve caution opens up the currency market to a risk-on, risk-off climate. But when does bad news become bad news? Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.

Federal Reserve chair 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. Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.

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 Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.

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? Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.

The yen's haven properties shone during the recent market turmoil, but Japan's currency has stayed high while calm has returned. Koon Chow, strategist at Union Bancaire Privée, tells Michael Hunter that wider worries are casting a shadow over currencies. Hosted on Acast. See acast.com/privacy for more information.

The dash towards negative interest rates does not seem to be working, leaving markets in a state of flux. Paul Lambert from Insight Investment tells Katie Martin why we need to have a more innovative policy plan, including debt write-offs, and warns it could all get worse before it gets better. Hosted on Acast. See acast.com/privacy for more information.

The Bank of England has kicked UK rate rises into the long grass, but short term, sterling is holding relatively firm anyway. Kamal Sharma of Bank of America Merrill Lynch tells Katie Martin why. Hosted on Acast. See acast.com/privacy for more information.

Deutsche Bank's Oliver Harvey talks to the FT's Katie Martin about sterling's horrible run, the cross currents for the euro, and the irresistible allure of the Swedish krona. Hosted on Acast. See acast.com/privacy for more information.

As the market tumult continues, central banks have been having their say on the global climate. Hans Redeker of Morgan Stanley explains to Roger Blitz the choices ahead for the eurozone, Japan and the US. Hosted on Acast. See acast.com/privacy for more information.

As central banks begin their first meetings of 2016 and delegates prepare for next week's Davos gathering, what does the impact of China and oil price turbulence means for G10 currencies and in particular the Federal Reserve's rate cycle? Roger Blitz asks, Stephen Gallo of Bank of Montreal answers. Hosted on Acast. See acast.com/privacy for more information.

2016 has begun with the currencies market reeling from a falling oil price and China slowdown fears. Jane Foley, FX strategist at Rabobank, tells Roger Blitz why none of this should be of much surprise to investors. Hosted on Acast. See acast.com/privacy for more information.

Federal Reserve chair Janet Yellen finally got the interest rate hike she wanted. Roger Hallam at JPMorgan Asset Management gives Roger Blitz her report card, examining how she managed to turn around the Fed's battered reputation, and what signals she sent for the pace of the tightening cycle. Hosted on Acast. See acast.com/privacy for more information.

Beijing has been letting its currency fall again. Richard Benson of investment manager Millennium Global talks to Roger Blitz about the implications, examines the impact of China's economic rebalancing on commodity currencies and discusses how to fix central banks' lines of miscommunication. Hosted on Acast. See acast.com/privacy for more information.

Did European Central Bank president Mario Draghi over-promise on monetary policy expansion or did the market expect too much? Thanos Vamvakidis of Bank of America Merrill Lynch tells Roger Blitz what the market reaction to ECB policy means for the direction of the euro, and whether transatlantic divergence remains on course. Hosted on Acast. See acast.com/privacy for more information.

Adam Cole of RBC Capital Markets tells Katie Martin why the euro and dollar still pounce on well-known signs of contrasting US and European monetary policy. Hosted on Acast. See acast.com/privacy for more information.

Peter Kinsella of Commerzbank tells Roger Blitz why the rally in emerging market currencies will be short-lived but why there won't be a full-scale resumption in FX declines Hosted on Acast. See acast.com/privacy for more information.

As Mario Draghi continues to talk down the euro, Roger Blitz discusses with Derek Halpenny of Bank of Tokyo-Mitsubishi UFJ the ECB's president's options for further monetary easing, and what the dollar's strength means for the yen and emerging market currencies. Hosted on Acast. See acast.com/privacy for more information.

Roger Blitz asks Kit Juckes of Societe Generale what he makes of Federal Reserve chair Janet Yellen's increasingly optimistic words on a December rate hike, and how they contrast with the surprising dovishness of Bank of England governor Mark Carney. Hosted on Acast. See acast.com/privacy for more information.

Just how hawkish is Janet Yellen really feeling after this week's US Federal Reserve meeting raised the prospect of a festive-season rate rise? Michael Hunter talks to Steven Saywell of BNP Paribas on what the Fed really means and what it means for other central banks. Hosted on Acast. See acast.com/privacy for more information.

How wobbly is the Chinese economy and what impact will this have on its trading partners. Are we in for a sustained period of market instability? Roger Blitz discusses these and other currency market questions with Simon Derrick of BNY Mellon Hosted on Acast. See acast.com/privacy for more information.

Roger Blitz asks Dominic Bunning of HSBC what's behind the recent sprightliness of some emerging market currencies. Can the new-found optimism last, or is it a short-term reversal? Hosted on Acast. See acast.com/privacy for more information.

What influence is the Federal Reserve's rate hike caution having on its transatlantic partner? Roger Blitz talks to Ian Stannard of Morgan Stanley about Britain's inflation problem, the drawbacks in the UK economy and the impact of sterling fluctuation on Bank of England monetary policy. Hosted on Acast. See acast.com/privacy for more information.

In a week dominated by Brazil, Russia, India and China, Roger Blitz and Ilan Solot of Brown Brothers Harriman discuss why the Bric countries continue to show why they are important to the currency market despite the growing gulf in the fortunes of this once-vaunted group. Hosted on Acast. See acast.com/privacy for more information.

Roger Blitz talks to Marvin Barth of Barclays about market turbulence, the impact of slowing growth in China, the spread of "Dutch disease" and the trend for central banks to opt for negative interest rates Hosted on Acast. See acast.com/privacy for more information.

Steven Englander of Citigroup tells Roger Blitz how the rest of the world views the Fed's contortions over its rate hike options, why some central banks are gripped by paralysis and what the ideal circumstances might be in the US economy for a rate hike. Hosted on Acast. See acast.com/privacy for more information.

Vincent Chaigneau of Société Générale tells Roger Blitz how falls in commodity prices and emerging market currencies are making it harder for central banks in developed countries to reach their inflation targets. Hosted on Acast. See acast.com/privacy for more information.

Why the panic? Paul McNamara, portfolio manager at GAM Holding, tells Roger Blitz why the markets should not have been shocked by China's slowing economy, how it plays on the Fed's rate hike calculations and why the bottom in emerging market currencies may soon be reached. Hosted on Acast. See acast.com/privacy for more information.

Roger Blitz and Jane Foley of Rabobank discuss the repercussions of China's economic weakness, with emerging market fundamentals laid bare and the Fed's dilemma over when to move on interest rates intensified. Hosted on Acast. See acast.com/privacy for more information.

A dramatic shift in China's exchange rate policy has seen the renminbi fall for three consecutive days, throwing the markets off course. Roger Blitz asks Charles St-Arnaud of Nomura what this critical moment in the world's biggest economy signals for the rest of the world. Hosted on Acast. See acast.com/privacy for more information.

Michael Hunter is joined by Stephen Gallo of Bank of Montreal to discuss what we learnt about the timing and pace of the Bank of England's next move on interest rates, the performance of the pound, and the risks weighing on the minds of Fed and BoE policymakers as they ponder when to raise rates Hosted on Acast. See acast.com/privacy for more information.

Geoff Yu, strategist at UBS, tells Michael Hunter which numbers the Fed will be looking at as the approaching US rate rise dominates the market. He also offers a view on the curious strength of the euro, sterling's prospects and the outlook for emerging market currencies. Hosted on Acast. See acast.com/privacy for more information.

Kamal Sharma, currency strategist at Bank of America Merrill Lynch, tells Roger Blitz when he thinks the Fed and the Bank of England will move on rates, as data continues to drive the markets Hosted on Acast. See acast.com/privacy for more information.

As worries about Greece, China and the oil price ease in the forex market, Roger Blitz talks to Alan Wilde of Baring Asset Management about whether the market really has recovered its risk appetite and about just how hawkish the UK and US central banks truly are. Hosted on Acast. See acast.com/privacy for more information.

After a week when China added to market nerves already frayed by Greece and the price of oil took a dive, Roger Blitz asks Hamish Pepper, currency strategist at Barclays how investors should react. Should they flock to the yen, the haven of the moment, learn to love the dollar again, or take a break and wait until the fuss dies down? Hosted on Acast. See acast.com/privacy for more information.

Steven Englander, head of global FX strategy at Citigroup, tries to avoid talking about the Greek debt crisis with Roger Blitz, and instead discusses the currency themes from the first half of 2015 and what to expect for the rest of the year Hosted on Acast. See acast.com/privacy for more information.

Adam Cole of Royal Bank of Canada talks to Roger Blitz about the health of the euro in the climate of the Greek crisis, and why risk appetite in the currency universe may be short-lived. Hosted on Acast. See acast.com/privacy for more information.

Matthew Cobon, fund manager at ColumbiaThreadneedle, tells Roger Blitz why central bankers are not as omnipotent as the markets think they are, why he is steering clear of emerging markets, and where volatility is coming from. Hosted on Acast. See acast.com/privacy for more information.

Roger Blitz is joined by Ugo Lancioni of Neuberger Berman to discuss the US economy's weak performance and its impact on the currency markets, whether the eurozone is on a sustained path to recovery, and the post-election shine on sterling. Hosted on Acast. See acast.com/privacy for more information.

Roger Blitz discusses this week's market unwinding with Roger Hallam, of JPMorgan Asset Management. With the dollar down, the euro up, Brent crude oil close to $70 a barrel and bonds being sold off, is this a return to some semblance of normality? Hosted on Acast. See acast.com/privacy for more information.

A week before the UK poll, Sam Hill of RBC Capital Markets and Tina Fordham from Citigroup talk to Roger Blitz about how the market views a hung parliament, Brexit, Scottish nationalism and the relative health of the UK economy Hosted on Acast. See acast.com/privacy for more information.

Roger Blitz talks to Steve Barrow of Standard Bank about his damning assessment on the euro, the rapid descent of German bund yields and the weak link between a country's growth prospects and its currency. Hosted on Acast. See acast.com/privacy for more information.

Roger Blitz, joined by Paul Lambert of BNY Mellon's Insight Investment fund, looks back at the seismic forex events in the first quarter and ahead to Good Friday's US jobs data - the next big event on the currencies radar. Hosted on Acast. See acast.com/privacy for more information.

Roger Blitz is joined by Kit Juckes, global strategist at Société Générale, to discuss where next for the dollar, what's causing forex volatility and whether markets will be taking a more data-driven view of currency values. Hosted on Acast. See acast.com/privacy for more information.

Roger Blitz discusses the FOMC policy statement and the dramatic moves in the currency markets with Marc Chandler, global head of markets strategy at Brown Brothers Harriman. Hosted on Acast. See acast.com/privacy for more information.

Roger Blitz is joined by Jane Foley, senior strategist at Rabobank to discuss the start of Quantitive Easing in the eurozone and the rapid pace of the euro's decline against the dollar. Hosted on Acast. See acast.com/privacy for more information.

As the euro once again touches new lows against the dollar, Roger Blitz discusses the resumption of euro-funded carry trade and what are the biggest factors at play with Simon Derrick, chief currency strategist at BNY Mellon. Hosted on Acast. See acast.com/privacy for more information.

With the pound up about 4 per cent against the dollar since hitting a cyclical low in January, and up about 5 per cent against the euro over the same period, how much are interest rate expectations supporting the UK currency. Neil Dennis discusses sterling's strength with Simon Smith, chief economist at FxPro. Hosted on Acast. See acast.com/privacy for more information.

Vivianne Rodrigues talks to Vassili Serbriakov, foreign exchange strategist at BNP Paribas about the impact of this week's Fed minutes on the US dollar, the release of the eurozone balance of payments reports and the Bank of England's comments about the next UK interest rate rise Hosted on Acast. See acast.com/privacy for more information.

Neil Dennis is joined by Steve Barrow from Standard Bank to discuss the ECB's decision to raise the stakes against Greece by tightening the Greek Central Bank's access to liquidity and the possible domino effects, the Australian Central Bank's move to ease interest rates, and tomorrow's US jobs data. Hosted on Acast. See acast.com/privacy for more information.

Neil Dennis talks to Jane Foley, senior currency strategist at Rabobank about the Fed's apparent unconcern over the dollar's rise, whether the Australian dollar is overvalued, and why the euro appears unruffled by the ECB decision on QE and a new hard-left government in Greece. Hosted on Acast. See acast.com/privacy for more information.

Alice Ross talks to foreign exchange strategist Sebastien Galy of Societe Generale about the reasons why the Euro fell to its lowest level in more than a decade after the ECB announced its long-awaited decision on quantitative easing. Hosted on Acast. See acast.com/privacy for more information.

On the day the the euro dipped to its lowest-ever level against theSwiss franc following the Swiss National Bank's surprise decision toscrap its currency floor against the single currency, Alice Ross talksto Marc Chandler, global head of markets strategy at Brown BrothersHarriman, about what happened and what it means for investors. Hosted on Acast. See acast.com/privacy for more information.

As the euro continues to fall, when will the European Central Bankstart buying government bonds and is that priced into the euro yet?Alice Ross, markets correspondent, discusses the outlook for thesingle currency as well as what central banks are doing about currencyreserves and when the Fed will tighten rates with Alan Ruskin, foreignexchange strategist at Deutsche Bank. Hosted on Acast. See acast.com/privacy for more information.

With all eyes on the European Central Bank for January, is full-blownquantitative easing priced into the single currency yet? Alice Ross,markets correspondent, discusses the outlook for the euro, as well asthe dollar and the yen in 2015, with Peter Kinsella, foreign currencystrategist at Commerzbank. Hosted on Acast. See acast.com/privacy for more information.

Will Switzerland's introduction of negative interest rates help itkeep the franc weak in the face of haven flows amid Russia's currencycrisis? Alice Ross, markets correspondent, asks Steven Englander,foreign currency strategist at Citigroup, what the outlook for thefranc is. Also, how will the dollar trade after the FOMC meeting, andwhat is the future for Japan's yen? Hosted on Acast. See acast.com/privacy for more information.

As the dollar continues to smash through multi-year highs against other major currencies, Alice Ross, markets correspondent, asks Jason Thomas, managing director and director of research at Carlyle, what the risks are for dollar bulls. Also, how US investors are getting access to euro-investments and the outlook for Asian currencies. Hosted on Acast. See acast.com/privacy for more information.

With a lower oil price likely to reinforce the divergence of US and EU monetary policy, Delphine Strauss, currencies correspondent, asks Marc Chandler, strategist at Brown Brothers Harriman, what the risks are to the overwhelming consensus that the dollar will continue to rally. Also, will Japan's elections trigger another fall in the yen - and at what point will investors start to worry about the political risks for UK assets? Hosted on Acast. See acast.com/privacy for more information.

With the dollar at a 7 year high against the yen, Delphine Strauss, currencies correspondent, asks David Bloom, currency strategist at HSBC, what it will take to reignite its rally against other major currencies. Also, does the Save our Swiss Gold Initiative threaten the SNB's cap on the Swiss franc, and should investors worry about the consensus prevailing in forex markets? Hosted on Acast. See acast.com/privacy for more information.

As an effective free float of the rouble drives the currency to all-time lows, Delphine Strauss, currencies correspondent, is joined by Tom Levinson, strategist at Sberbank CIB, to discuss the change in policy. Will Russia's central bank step in to defend the rouble; does it have further to fall before it finds a new level; and what are the implications for currencies of central and eastern European neighbours? Hosted on Acast. See acast.com/privacy for more information.

As investors nurse losses from last week's flash crash in US bond yields, Delphine Strauss, currencies correspondent, asks Valentin Marinov, strategist at Citigroup, what it would take to restore their confidence in the dollar, whether the Bank of England will still worry about a strong pound, and what the ECB's bank stress tests will mean for the euro. Hosted on Acast. See acast.com/privacy for more information.

After the greenback's biggest one-day fall in more than a year, Delphine Strauss, currencies correspondent, asks Matthew Cobon, fund manager at Threadneedle Investments, whether this is the end of the dollar rally; whether volatility will persist; and which fear is the dominant one for investors. Hosted on Acast. See acast.com/privacy for more information.

With Fed officials underlining concerns over the exchange rate, Delphine Strauss, currencies correspondent, asks Derek Halpenny, strategist at Bank of Tokyo Mitsubishi, whether the dollar’s three month surge can continue; how the yen is affected by changing investment patterns in Japan and why politics is pressuring the pound. Hosted on Acast. See acast.com/privacy for more information.

With the single currency already below the levels many had forecast for the end of the year, Delphine Strauss, currencies correspondent, asks Peter Kinsella, strategist at Commerzbank, whether the ECB will try to engineer a bigger depreciation. Also, will the dollar rally maintain its momentum, and can New Zealand's central bank continue to talk down the kiwi. Hosted on Acast. See acast.com/privacy for more information.

As the prospect of higher US interest rates puts emerging markets under renewed pressure, Delphine Strauss, currencies correspondent, asks Koon Chow, emerging markets strategist at Barclays, whether we will see a repeat of last year's 'taper tantrum'. Also, what is the scope for volatility as carry trades unwind, and what are the risks of China resorting to exchange rate intervention to boost flagging growth. Hosted on Acast. See acast.com/privacy for more information.

As the ECB's rate cuts send the euro to a 14 month low, Delphine Strauss, currencies correspondent, asks Paul Lambert, fund manager at Insight Investment, how this changes the equation for the single currency. Also, are we about to see a new bout of volatility in the foreign exchange market - and what will the Scottish referendum mean for the pound? Hosted on Acast. See acast.com/privacy for more information.

The pound has risen rapidly over the past year. But it fell in July, and faces uncertainties when it comes to Scotland's independence referendum in September. Thomas Hale asks Phyllis Papadavid, currencies strategist at BNP Paribas, what the future holds for sterling. Is the pound overvalued? How much of an impact on the currency might Scottish independence have? Hosted on Acast. See acast.com/privacy for more information.

With the forex market showing only a modest reaction to tougher sanctions against Russia, Delphine Strauss, currencies correspondent, asks Elsa Lignos, strategist at RBC Capital Markets, whether currency investors have become less sensitive to geopolitical risk. Also, can we expect any sustained strength in the dollar after this week's rally; and should Canada's central bank try to talk down its currency? Hosted on Acast. See acast.com/privacy for more information.

With UK policy makers flagging concerns over the rising risks of a bubble in the housing market, Delphine Strauss, currencies correspondent, asks David Bloom, currency strategist at HSBC, how macroprudential measures would affect sterling. Also, what would be the knock-on effects of ECB easing for other currencies - and what does range-bound trading in the yen tell us about the state of the forex market? Hosted on Acast. See acast.com/privacy for more information.

With Mario Draghi's efforts to talk down the euro bearing fruit, Delphine Strauss, currencies correspondent, asks Jane Foley, strategist at Rabobank, whether investors are now expecting too much of the ECB. And with central banks around the world keen to see weaker exchange rates, are we on the verge of a new currency war? Hosted on Acast. See acast.com/privacy for more information.

With the greenback trading at a two-week low against the euro, Delphine Strauss, currencies correspondent, asks Matt Cobon, head of rates and currencies at Threadneedle Investments, why the consensus bet on dollar strength is not yet paying off. Also, how should currency markets interpret the Bank of England's latest set of economic forecasts - and what to make of the latest twist in the fortunes of the Aussie? Hosted on Acast. See acast.com/privacy for more information.

With the sell-off in EM currencies deepening, Delphine Strauss, currencies correspondent, asks Koon Chow of Barclays Capital, what is driving investors’ behaviour, how currency weakness will affect other assets - and which countries might welcome depreciation. Hosted on Acast. See acast.com/privacy for more information.

With the US government shutdown weighing on the dollar, FT currencies correspondent Delphine Strauss is joined by Derek Halpenny, European head of global market research at the Bank of Tokyo-Mitsubishi. Can forex markets remain this calm if the debt talks drag on into next week? How much higher can the euro go? And with the yen's weakness apparently set to continue, what changes in behaviour might we see from Japanese institutional and retail investors? Hosted on Acast. See acast.com/privacy for more information.

It's been a month of huge moves for the dollar-yen pair. Ahead of the Federal Reserve's meeting in June, Alice Ross, FT currencies correspondent, asks Shahab Jalinoos, FX strategist with UBS, what he expects from the talks as well as whether the Swiss National Bank will act to weaken its currency. Hosted on Acast. See acast.com/privacy for more information.

With the Australian and New Zealand dollars hitting multi-month lows against the US dollar, Elsa Lignos, currency strategist at RBC Capital joins currencies correspondent Alice Ross to discuss the mood on commodity currencies. Also, is central bank intervention likely in the Swiss franc and the continued weakening of the Japanese yen. Hosted on Acast. See acast.com/privacy for more information.

In a week in which the dollar has finally broken through the 100 barrier against the yen, currencies correspondent Alice Ross is joined by Ian Stannard, foreign currency strategist at Morgan Stanley to discuss the regional impact of the weaker yen and the likelihood of further interest rate cuts by trading partners. Hosted on Acast. See acast.com/privacy for more information.

Bob Savage of hedge fund FX Concepts joins Alice Ross, currencies correspondent, to discuss the beating that sterling has taken, when the Fed will end QE and the implications for the dollar, and the impact of the election in Italy. Hosted on Acast. See acast.com/privacy for more information.

As Japan prepares for an early election on December 16, the yen has come under pressure, falling against the dollar. Will this trend continue into next year? Ian Stannard, head of European FX strategy at Morgan Stanley, joins Alphaville reporter David Keohane to debate the effect of domestic policy and trade on the yen, as well as its attractiveness as a funding currency. Also under discussion is the euro's outlook for the next 12 months, after showing notable resilience in 2012. Hosted on Acast. See acast.com/privacy for more information.

Jane Foley, senior currency strategist at Rabobank, joins Alice Ross, FT currencies correspondent, to discuss how the European Central Bank’s confirmation of plans to buy government bonds in peripheral markets is supporting the euro – even if no actual action has been taken. Also, is the Federal Reserve likely to introduce more quantitative easing and just what is going on with the Swiss franc? Hosted on Acast. See acast.com/privacy for more information.

This week Alice Ross, the FT’s currencies correspondent, is joined by Javier Corominas, head of research and fx strategy at Record Currency Management, to discuss what’s driving the pound and euro weakness as the Draghi effect fades. They also look at the strength of the Australian dollar and the Japanese yen. Hosted on Acast. See acast.com/privacy for more information.

This week our currencies correspondent Alice Ross is joined by Kit Juckes from Société Générale to discuss what's going on behind the scenes with the Swiss franc, what next for the euro following the recent ECB meeting and the strength of the Australian dollar Hosted on Acast. See acast.com/privacy for more information.

Derek Halpenny, European head of global currency research at Bank of Tokyo-Mitsubishi, talks to Alice Ross, FT currencies correspondent about why intervention from the Bank of Japan into the yen is unlikely despite the currency’s strength and why whilst the ECB’s bond buying programme is likely to restart, QE3 from the Fed is unlikely in August. Hosted on Acast. See acast.com/privacy for more information.

Matt Cobon, fixed income manager and FX specialist at Threadneedle Asset Management talks to Alice Ross, FT currency correspondent, about why low volatility in the market means traders are taking risk off the table, why the Australian dollar looks overpriced in relation to its economic fundamentals and why all eyes are on the Swiss National Bank. Hosted on Acast. See acast.com/privacy for more information.

Simon Derrick, chief currency strategist at BNY Mellon and Alice Ross, FT currencies correspondent look at the week ahead in forex. Is the movement of funds out of the euro is a sign of flight, or the possible beginning of a carry trade in euros? Why the US dollar is seeing increased flows, and is the ECB the most accommodating of the central banks? Hosted on Acast. See acast.com/privacy for more information.

In the FT’s look at the week ahead in forex, Elsa Lignos, senior G10 currency strategist at RBC Capital Markets tells Alice Ross, the FT currencies correspondent, why the ECB rate cut has sent the euro south why sterling isn’t a true haven currency. Hosted on Acast. See acast.com/privacy for more information.

John Normand, global head of FX strategy at JPMorgan, talks to FT currencies correspondent Alice Ross about the prospects for the euro following the EU summit and the outlook for emerging market currencies Hosted on Acast. See acast.com/privacy for more information.

This week the FT's currency correspondent Alice Ross is joined by Humayun Sharyar, chief executive of hedge fund Auvest Capital Management, to discuss the Fed's decision not to introduce a third round of quantitative easing, the difficulty of trading the euro amid the ongoing eurozone debt crisis, and opportunities for investing in emerging market currencies Hosted on Acast. See acast.com/privacy for more information.

This week the FT's currency correspondent Alice Ross is joined by Humayun Shahryar, chief executive of hedge fund Auvest Capital Management, to discuss the Fed's decision not to introduce a third round of quantitative easing, the difficulty of trading the euro amid the ongoing eurozone debt crisis, and opportunities for investing in emerging market currencies Hosted on Acast. See acast.com/privacy for more information.

Mansoor Mohi-Uddin, head of FX strategy at UBS, joins the FT's currencies correspondent Alice Ross to discuss how the euro might drive currency markets in the wake of the Greek elections, the likelihood of a new round of QE3 in the US in light of recent bad economic data and the case for further monetary easing in the UK Hosted on Acast. See acast.com/privacy for more information.

Kathleen Brooks, research director at Forex.com talks to FT currencies correspondent Alice Ross about the prospects for more – and different - QE in the USA, why action from the Bank of Japan to weaken the yen is unlikely, and why the Australian dollar will stay in tune with risk aversion. Hosted on Acast. See acast.com/privacy for more information.

Valentin Marinov, director of FX strategy at Citi, talks to FT currencies correspondent Alice Ross about currency interventions, looking at why the Swiss National Bank will keep defending the Swiss franc’s peg with the euro in the face of increasing money flow into the haven currency, the prospects for intervention in the yen, and the outlook for the euro. Hosted on Acast. See acast.com/privacy for more information.

FT currencies correspondent Alice Ross talks to Steven Saywell, head of FX currency strategy in Europe at BNP Paribas about why he thinks a Greek exit is unlikely and remains bullish on the euro, as well as a look ahead to the US non-farm payroll data and the prospects for more quantitative easing in the US and UK. Hosted on Acast. See acast.com/privacy for more information.

FT currencies correspondent Alice Ross talks to global head of FX strategy at HSBC David Bloom about the pressures on the euro and why he is forecasting a rise in value, the Norwegian krone’s haven status and why the pound is doing well. Hosted on Acast. See acast.com/privacy for more information.

Currencies correspondent Alice Ross explores the trends driving the global currencies market, this week focusing on sterling’s status as a haven currency, why the euro is still strong against the dollar and how a further rate cut in Australia will impact the carry trade.This week’s guest is Paul Robson, senior currency analyst at Royal Bank of Scotland. Hosted on Acast. See acast.com/privacy for more information.