Insights

September centred on the Fed’s first rate hike since 2023, which pushed Treasury yields to near two-decade highs and extended the dollar’s rally. Renewed conflict around the Strait of Hormuz …

August was marked by coordinated US-Japan intervention in currency markets, persistent geopolitical tensions in the Gulf, and growing questions over central bank independence. These developments kept inflation concerns elevated and …

July was shaped by geopolitical risk and shifting central bank tone. Escalating tensions around Iran and the Red Sea kept oil prices elevated, supporting commodity currencies while pressuring energy importers …

Our June market commentary explores how a resurgent US dollar, stronger economic data and a hawkish shift from new Fed Chair Kevin Warsh reshaped currency markets. Against this backdrop, evolving …

Our latest market commentary explores how geopolitical tensions, energy disruption and shifting central bank expectations shaped currency markets in May. From renewed USD strength and Japanese intervention to rising pressure …