Lee Hardman, Senior Currency Analyst, and Abdul-Ahad Lockhart, Currency Analyst, discuss what has been driving a weaker USD over the past week. In addition, they discuss if recent GBP outperformance will continue now that Andy Burnham has been confirmed as the new Labour leader. 

Derek Halpenny, Head of Research Global Markets EMEA & International Securities sits down to speak with James Roulston in FX Institutional Sales to discuss the latest FX/Rates themes. Derek discusses the implications of Japan Finance Minister Katayama ‘s comment on encouraging households and pension funds, including GPIF to invest in domestic markets. This marks a potentially significant shift in policy direction. The re-escalation of the Middle East conflict and next week’s CPI and semi-annual testimony of Fed Chair Kevin Warsh are discussed as well.  

Lee Hardman, Senior Currency Analyst, and Henry Cook, Senior Economist, discuss what has been driving FX markets recently including UK political risk and diverging monetary policy expectations between Europe and the US. Will the USD continue to strengthen?  

After a busy week of central bank meetings, Derek Halpenny, Head of Research Global Markets EMEA & International Securities sits down with Nico Jan Thiesen, Global Client Sales to discuss the implications for the FX markets. The Fed meeting impact on the dollar, the BoJ impact on the yen and the BoE impact on the pound are discussed as are the implications for EUR cross currency risks given the potential for moves in the US dollar.

Lee Hardman, Senior Currency Analyst, and Abdul-Ahad Lockhart, Currency Analyst, discuss how building investor optimism over a US-Iran deal and Kevin Warsh’s first policy meeting as Fed Chair are likely to impact the USD. Will another BoJ rate hike be sufficient to trigger a reversal of JPY weakness?

The much stronger than expected US jobs report has had the obvious impact with front-end rates and the dollar stronger. Derek Halpenny, Head of Research Global Markets EMEA & International Securities sits down with Chris Jakubowski, FX Institutional Sales to discuss the impact of the data going forward. How does this impact EUR/USD with the ECB expected to hike on 11th June? Has ECB pricing become overdone given recent economic data and how will the BoJ respond given the increased upside risks in USD/JPY?

Reaching a deal to extend the ceasefire for 60 days and reopen the Strait of Hormuz is now largely priced. Brent crude oil is down close to 20% from the high on 18th May reflecting the optimism that a deal would be done.

Derek Halpenny, Head of Research Global Markets EMEA & International Securities talks to James Roulston in FX Institutional Sales about what this means for rates and the US dollar. Derek also talks to James about the intervention data from Japan and the biggest AUD/NZD drop since 2016.

Lee Hardman, Senior Currency Analyst, and Henry Cook, Senior Economist, discuss the latest Uk economic and political developments. How has it impacted the outlook for UK rates and the pound?

The US dollar is heading for its biggest weekly gain since the first week of the US-Iran conflict in early March. This week, Derek Halpenny, Head of Research Global Markets EMEA & International Securities sits down with Julie Ellert, Head of FraBeLux FX Sales to discuss the factors behind the dollar move and what it might mean going forward. Yields certainly look to be increasing in importance again as US yields move higher just as Kevin Warsh comes in to take the reins from Jay Powell. Derek also discusses the big sell-offs in fixed income in Japan and the UK and what these moves might mean for the yen and pound.

Lee Hardman, Senior Currency Analyst, and Seiko Kataoka Fisher, Director in Japanese Customer Sales for EMEA in London, discuss what has been driving the USD lower over the past week . Is intervention from Japan likely to be successful in reversing JPY weakness?