Ft Hard Currency

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.  See acast.com/privacy for privacy and opt-out 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.  See acast.com/privacy for privacy and opt-out 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.  See acast.com/privacy for privacy and opt-out 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.  See acast.com/privacy for privacy and opt-out 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  See acast.com/privacy for privacy and opt-out 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.  See acast.com/privacy for privacy and opt-out 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.  See acast.com/privacy for privacy and opt-out 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  See acast.com/privacy for privacy and opt-out 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  See acast.com/privacy for privacy and opt-out 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  See acast.com/privacy for privacy and opt-out 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  See acast.com/privacy for privacy and opt-out 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  See acast.com/privacy for privacy and opt-out 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.  See acast.com/privacy for privacy and opt-out 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  See acast.com/privacy for privacy and opt-out 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  See acast.com/privacy for privacy and opt-out 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.  See acast.com/privacy for privacy and opt-out 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.  See acast.com/privacy for privacy and opt-out 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.  See acast.com/privacy for privacy and opt-out 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  See acast.com/privacy for privacy and opt-out 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?  See acast.com/privacy for privacy and opt-out information.