Market voice
Looking beyond the US dollar
If 2007 was the year the US sneezed, 2008 promises to be the year in which the rest of the world catches a cold, says Cameron Umetsu, currency strategist at Nomura International in London
SWFs under pressure to disclose
Marc Chandler, chief currency strategist at Brown Brothers Harriman in New York, looks at why the issue of sovereign wealth fund transparency is such a heated one
Yen stands strong
Philip Brass, global head of CitiFX flows in London, predicts a prolonged period of yen strength as holders of short yen positions change their investment strategies
Coming on strong
Lydia Kranner, analyst at RZB in Vienna, evaluates the prospect of Chinese yuan appreciation in 2008
The final frontier
Win Thin, senior currency strategist at Brown Brothers Harriman & Co in New York, evaluates the investment prospects for the frontier markets
G-10 currencies face a grim 2008
John Hydeskov , senior FX analyst at Danske Markets in Copenhagen, predicts the road ahead for G-10 currencies in light of an ongoing financial crisis
Pegging hopes on GCC currency reform
Marios Maratheftis, Dubai-based regional head of research for Middle East, North Africa and Pakistan at Standard Chartered, calls for currency reform by the GCC
Safety in numbers
Global FX strategists Niels From and Sebastien Galy at Dresdner Kleinwort in Frankfurt and London illustrate the perils of strategy diversification with a strategy based on current account extremes
Woe is USD
The US financial crisis needs to deepen to realise a structural super-bearish USD view, says Mike Gallagher, director of research at IDEAglobal in London
Central banks: the gorillas of FX
Chris Turner, head of FX strategy research at ING wholesale banking in London, evaluates the possibility of FX sterilisation by central banks next year
G-10 carry trades survive the crunch
Perhaps the biggest conviction Lehman held during this summer’s credit market shock was that the unfolding events would drastically alter the foreign exchange market. Most notably, we thought the carry-centric world that had dominated in recent years…
All eyes on Asia
Divyang Shah, chief strategist at the Commonwealth Bank of Australia in London, says Asian equities and commodity markets hold clues on the AUD/USD parity debate
The value of a fall
The dollar might be in serious trouble, but its fall could also be its salvation, according to David Bloom and Paul Mackel of HSBC's FX strategy team in London
Will intervention work?
European Central Bank intervention could spark a battle with the foreign exchange market, says Mitul Kotecha, head of global foreign exchange research at Calyon in London
Talk of revaluation
The independent monetary stance recently taken by many Middle East states is likely to add to speculation about a revaluation, according to Chris Turner, head of FX strategy research at ING wholesale banking in London
Norwegian krone joins the high-yield club
Ian Stannard, senior currency strategist at BNP Paribas in London, surveys the NOK's earning potential
Timing the USD decline
A 50 basis point Fed cut has confirmed that USD cyclical support is fading rapidly, according to Niels From, global FX strategist at Dresdner Kleinwort in Frankfurt
G-10 foreign exchange is no longer unbreakable
The G-10 trading environment remains fragile at best, and the growing dislocation between equity and credit markets is becoming more worrisome, according to David Mozina at Lehman Brothers in New York
Tough times ahead for US dollar
Mike Gallagher, director of research at IDEAglobal in London, evaluates the outlook for the US dollar amid prospects for lower US growth and rates
Carry-trade capitulation
When the market turmoil subsides, the yen will give up some of its 2007 gains in 2008 and will remain undervalued by past norms, says Gabriel de Kock, Citi's global currency economist in New York
Risk aversion favours the dollar
The greenback is, paradoxically, likely to benefit from the recent spate of risk aversion brought on by the subprime crisis, writes Mansoor Mohi-uddin, chief currency strategist at UBS Investment Bank in London
FOMC slouches towards neutrality
According to Robert DiClemente , chief US economist at Citi in New York, the lingering policy bias should not dissuade markets from anticipating an eventual reversal
The effects of the subprime crisis
According to Michael Woolfolk , New York-based senior currency strategist at Bank of New York Mellon, US market players will focus on evolving developments in the subprime crisis, with global equities the preferred barometer for market risk aversion
The value in Asian currencies
Where does the value lie in Asian FX? David Mann , senior FX strategist at Standard Chartered Bank in Hong Kong investigates