URR News and Press, Morgan Stanley ZC SP REDEEM 30/04/2020 USD 40 From 11/08/20

The US dollar had one of its worst weeks of the year. Many participants were caught wrong-footed by the dollar's drop and the sharp drop in US yields. The broad dollar weakness is making it difficult for the PBOC to resist a stronger yuan. For further details see: Bears ...

Turkish equities have not moved much in 2020, however they have collapsed in international FX terms. USD/TRY and EUR/TRY continue to appreciate. Indeed, all G10 currencies have appreciated against the lira between 40 and 60% this year. Nevertheless, while consumer confidence remai...

Despite escalating trade tensions with China, Australia reported a much larger-than-expected trade surplus for September. German factory orders were weaker than expected in September, suggesting that Europe's largest economy may have entered its new social restrictions with fading eco...

U.S. presidential elections and the spread of coronavirus are two most important themes impacting the global foreign exchange market right now. The Swiss franc and Australian dollar look "overvalued." The Canadian dollar is the most "undervalued" currency among the majors. F...

The dollar, which fell on Tuesday, is recovering smartly today. It has risen against nearly all currencies. Among the majors, the Australian dollar has been hit the hardest; the Swiss franc is the strongest, and virtually flat. Emerging market currencies have seen some dramati...

The US dollar is heavier against the major currencies. The euro looks to snap its six-day slide, as does the JP Morgan Emerging Market Currency Index. The Turkish lira remains under pressure despite its slightly less than expected rise in CPI. The Reserve Bank of Australia did...

The dollar is firmer, though not against the dollar bloc. Sterling is the weakest of the majors, though it is recovering. The euro fell in every session last week and extended those losses today. For further details see: Shaken Not Stirred

EUR/USD has most recently conceded some of its new-found strength this year. Some are therefore questioning the euro's new-found strength. However, history and data show that the euro has, broadly speaking, performed well since its inception (in spite of euro skepticism). The coll...

Investors have been locked in deep thought over the impact of the U.S. presidential elections, which seems to converge on trying to price in the consequences of a Biden victory. If markets can’t figure out how a Democratic sweep will impact the dollar and bonds, it’s dif...

We believe it’s still important for investors hedging currency risk to remain aware of the cross-currency basis - as a cost or a potential benefit of hedging. The cross-currency basis is the excess premium (or discount) factored into the quoted price of a basis swap (or an FX f...