As expected this week the Fed held rates, as did the Bank of England. Eimear Daly is joined by Paul Robson and Deepika Dayal to discuss the impact on foreign exchange markets of divergent central bank strategies. The US dollar is holding its strength courtesy of a hawkish hold, but the same can't be said for Sterling. In contrast, emerging markets central banks are cutting rates, triggering EM FX weakness. And in Europe the Swiss franc looks like it may weaken.  

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NB: This was recorded on 21 September 2023.For any terms used please refer to this glossary:  https://www.natwest.com/corporates/insights/markets/glossary.html Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

This week the European Central Bank implemented a dovish hike. Eimear Daly is joined by Paul Robson to discuss how foreign exchange markets are looking forward to the start of easing cycles by major central banks. They also look at how this affects currencies in developing countries and whether Nordic central banks are near their rate peaks. 

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NB: This was recorded on 14 September 2023.For any terms used please refer to this glossary:  https://www.natwest.com/corporates/insights/markets/glossary.html Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

After a break of three weeks, The Currency Exchange returns. Host Brian Dangerfield is joined by Paul Robson to discuss weaknesses in the euro economic area and China, plus the relative strength of US data. Elsewhere, support provided to Sterling may suffer longer-term challenges in the UK. A quiet August? No chance.  

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NB: This was recorded on 7 September 2023.For any terms used please refer to this glossary:  https://www.natwest.com/corporates/insights/markets/glossary.html Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

In the latest episode of The Currency Exchange, Eimear Daly and Deepika Dayal debrief after the Fed’s latest rate hike and discuss some of the key factors influencing how the central bank thinks about future hikes as we move towards the September meeting. What does all of this mean for the US dollar outlook? Tune in to find out. 

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NB: This was recorded on 27 July 2023.For any terms used please refer to this glossary:  https://www.natwest.com/corporates/insights/markets/glossary.html Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

In the latest episode of The Currency Exchange, Eimear Daly and Paul Robson take a closer look at the impact of the latest inflation data on the outlook for Sterling and the wider FX landscape.

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NB: This was recorded on 20 July 2023. 

For any terms used please refer to this glossary:  https://www.natwest.com/corporates/insights/markets/glossary.html

Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

In the latest episode of The Currency Exchange, Eimear Daly and Brian Daingerfield discuss some of the latest jobs and inflation data out of the US and take a closer look at the impact on the US dollar outlook in the months ahead.

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NB: This was recorded on 13 July 2023.For any terms used please refer to this glossary:  https://www.natwest.com/corporates/insights/markets/glossary.html Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

In the latest episode of The Currency Exchange, Eimear Daly and Brian Daingerfield discuss the latest data prints in the US and take a closer look at some of the factors driving the US dollar outlook in the months ahead.

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NB: This was recorded on 6 July 2023.For any terms used please refer to this glossary:  https://www.natwest.com/corporates/insights/markets/glossary.html Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

In the latest episode The Currency Exchange, Eimear Daly and Alvaro Vivanco discuss the enduring strength of emerging markets, and the exception to this trend - South Africa. They take a closer look at the fundamental economic strengths in these countries, and the effects on FX carry.

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NB: This was recorded on 29 June 2023. For any terms used please refer to this glossary:  https://www.natwest.com/corporates/insights/markets/glossary.html Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

In the latest episode The Currency Exchange, Eimear Daly and Paul Robson discuss the impact of a larger-than-expected UK Bank Rate hike on the Sterling outlook going forward. They take a closer look at how companies and investors should balance higher absolute yields and risks to the economic growth outlook.

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NB: This was recorded on 22 June 2023. For any terms used please refer to this glossary:  https://www.natwest.com/corporates/insights/markets/glossary.html Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

In the latest episode of The Currency Exchange, Brian Daingerfield and Chief US Economist Kevin Cummins talk through why they expect the Fed to pause rate hikes in June and discuss potential implications for the USD outlook. They also share their perspectives on inflation ahead of next week's critical CPI print.

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NB: This was recorded on 8 June 2023.For any terms used please refer to this glossary:  https://www.natwest.com/corporates/insights/markets/glossary.html Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html