Lizzy Birmingham provides a brief roundup of the major FX moves this week, and the drivers behind each. 1) Pound Temporarily Bounces Back after May’s Resignation Today, British Prime Minister (PM) Theresa May announced her resignation, set for Friday, June 7. May’s announcement comes after three failed attempts to pass a Brexit deal, confirming mass-speculation […]
Lizzy Birmingham provides a brief roundup of the major FX moves this week, and the drivers behind each. 1) GBP Plummets Amid Uncertainty The British pound has hit a four month low. The continued drop in value has been caused by opposing parties failing to create Brexit deal and the looming resignation of Prime Minister […]
The euro performed well in 2017, but can it keep going? Galen Stops suggests that political factors mean that this currency could surprise markets in 2018.
This time last year, the European Union was still grappling with the fact that one of its biggest members was poised to leave the club, people were nervous about a populist, anti-EU party winning the Dutch general election, and even more nervous about a populist, anti-EU party winning the French election and presidency.
As a result, markets were – understandably – pricing a lot of risk into the Eurozone.
It’s not often one can turn to Italian philosopher George Santayana to offer some direction for the foreign exchange market, but I feel on this occasion it is justified, because George nailed it.
There is so much noise at the moment around currency manipulation (of the “official” kind I hasten to add, not the “private” that has provided so much grief for the FX industry over the past four years) that anyone might think it’s a relatively new phenomenon. It’s not.