Sat, Aug 19, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

The Big Picture: Between G7 and G20 meetings, traders wary of possible currency wars

Friday, February 15, 2013

amb
John Butler
An Opalesque column for global macro investors.

Benedicte Gravrand, Opalesque Geneva:

There was some confusion earlier this week on the message the G7 wanted to convey on foreign exchange rates after their meeting. As there was no mention of the yen, the markets continued speculating and the yen further depreciated. The G7 subsequently issued another statement saying, "The G7 statement signalled concern about excess moves in the yen. The G7 is concerned about unilateral guidance on the yen. Japan will be in the spotlight at the G20 in Moscow this weekend." The yen rallied after the statement.

"Rather than calm the markets, the poorly communicated statement has significantly raised volatility," Richard Gilhooly, fixed-income strategist at TD Securities in New York, told Reuters. The yen went from 78 to a dollar in early October 2012 to 92.88 yesterday, after peaking to 94.32 on Monday (11 February, 2013).

G20 finance ministers and central bankers are meeting in Moscow today and tomorrow (15/16 Feb - the main summit will take place in September). Bank of Canada’s chief Mark Carney said the G7 (the U.S., Britain, France, Germany, Japan, Canada and Italy) should, during the G20 meeting, urge developing countries to adopt flexible exchange rates ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Albright Capital puts a value lens on emerging markets[more]

    Bailey McCann, Opalesque New York: Over the past decade, investors have steadily increased investments in emerging markets private funds. Allocations to the cohort have increased from $93 billion in December 2006 to $564 billion in September 2016, according to data from research firm Preqin. Howe

  2. FinTech - Danger: Crowdfunding on the wrong platform could force you to go public[more]

    From LinkedIn.com: Some equity crowdfunding platforms are putting startups at serious risk. Working with a platform that doesn't structure your deal appropriately could jeopardize your ability to raise future capital or worse, force you to become a public reporting company. The emergence of eq

  3. David Tepper says we're 'nowhere near an overheated' stock market[more]

    From Marketwatch.com: Billionaire David Tepper thinks comparing this current stock-market environment with the overheated markets of 1999 is "ridiculous." The hedge-fund manager, who runs Appaloosa Management, told CNBC in a phone interview on Tuesday that the market's record run, notwithstanding la

  4. Opalesque Exclusive: Altegris and Artivest partner on distribution for alternative funds suite[more]

    Bailey McCann, Opalesque New York: California-based investment firm Altegris has partnered with New York-based alternative investments platform Artivest on distribution for $1 billion in alternative funds. The partnership also launches Artivest's capabilities to offer alternative solutions to acc

  5. Investing - Buffett's Berkshire Hathaway will not increase its Oncor offer, Travel-tilting hedge funds are investing in airlines and online travel agencies[more]

    Buffett's Berkshire Hathaway will not increase its Oncor offer From Reuters.com: The energy unit of Warren Buffett's Berkshire Hathaway Inc said on Wednesday it will "stand firm" on its $9 billion offer to acquire 80 percent of Oncor Electric Delivery Company LLC and will not increase it