FX Talk - an Ebury podcast
The euro goes up, the dollar goes down, and China devalues the yuan. But what's behind these currency fluctuations? This forex podcast is all about the global currency market. Our three financial market analysts, who are also top Bloomberg forecasters, discuss macro-economic news and its effect on the global financial market - providing you with insights to make informed decisions. *The information contained in this podcast does not constitute a recommendation from any Ebury entity to the recipient.
FX Talk - an Ebury podcast
S3E9: Dollar is king as market fears drive volatility
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In FX, we’ve seen a classic period of ‘risk off’ trading. The US dollar has been by far and away the best performing currency, rallying sharply against pretty much everything else. Most emerging market currencies are down, with the exception of the Russian ruble, some more than 4 or 5% in the past week alone.
The major currencies have also suffered rather extraordinary sell-offs, in most cases to multi-month or multi-year lows. Two of the most notable examples, and the two currencies that we’ll focus largely on today, are the pound and the euro. EUR/USD has collapsed to its lowest level in more than 5 years, and was trading below the 1.05 level this morning. Sterling, meanwhile, is trading at its lowest level since July 2020, having now sold-off by more than 4% in a little under a week.
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