

The epic political dramas of last week (Aunty Theresa’s Brexit plan was rejected by the House of Commons but she managed to survive a no-confidence vote by a narrow margin) strengthened the British pound, exactly as I had expected. Yet sterling has not managed to rise...
Global Investing

The bloodbath in bitcoin has only just begun
Jamie Dimon, the unanointed king of Wall Street and chief executive of New York banking colossus JP Morgan did not mince his words. He called bitcoin “a fraud”, a speculative bubble comparable to the Dutch tulip mania of the 17th century and declared he would fire any...
The bloodbath in bitcoin has only just begun

The anatomy of a British pound collapse
It took a North Korean ballistic missile launch and Hurricane Harvey’s devastation of the $500 billion Houston/Galveston/Corpus Christi economy to push sterling higher to 1.2950 against the US dollar. While the British pound is the most undervalued G-10 currency on...
The anatomy of a British pound collapse

The US dollar plunge and emerging market currencies
The US dollar plunged after Janet Yellen did not talk about Fed monetary tightening and Mario Draghi did not protest 1.19 Euro at the Jackson Hole central banking symposium. This is a green light for the carry trade in emerging market currencies. The Brazil real has...
The US dollar plunge and emerging market currencies

Wall Street: a hawkish Federal Reserve and the US dollar comeback
Dr Janet Yellen surprised the financial markets with her hawkish take on interest rate policy and inflation even as the FOMC raised the Fed Funds rate for the fourth time since December 2015. Despite successive weak CPI and auto/retail sales data, Dr Yellen asserted...
Wall Street: a hawkish Federal Reserve and the US dollar comeback