Wed, May 24, 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. Investing - Third Point's Loeb surfs on as hedge fund washout continues, George Soros has added to his losing bets against the stock market, Hedge funds, VCs and the CIA are throwing money at ex-Bridgewater data scientists' startup, Hedge funds shed retail amid fears of "apocalypse"[more]

    Third Point's Loeb surfs on as hedge fund washout continues From Reuters/Nasdaq.com: Billionaire investor Daniel Loeb said on Thursday that he is still making money even as the hedge fund industry struggles. Loeb, who oversees the $16 billion hedge fund firm Third Point LLC, sa

  2. Investing - Tudor Jones backs AI hedge funds, Massive hedge fund trades highlight insider buying: GE, Pentair, Tempur Sealy, Apollo Global and more, Hedge funds big wigs are buying consumer and selling tech, here's the stocks[more]

    Tudor Jones backs AI hedge funds From FT.com: Hedge fund magnate Paul Tudor Jones has invested in a brace of artificial-intelligence powered "quantitative" hedge funds, underscoring the increasing acceptance that the industry will need to turn more to technology and away from traditional

  3. Soon hedge fund investors won't bet on a man, they will bet on a machine[more]

    From Forexlive.com: The Wall Street Journal is in the midst of a 17-part series that looks at the rise of quant funds. The AUM and money invested in quant funds still trails traditional asset managers but the gap is closing. What's truly amazing is volume. Quant funds make up 27% of trading vo

  4. J.P. Morgan Asset Management launches ultra-short income ETF[more]

    Komfie Manalo, Opalesque Asia: J.P. Morgan Asset Management, the $1.5tln investment management arm of JPMorgan Chase & Co., has launched the JPMorgan Ultra-Short Income ETF (JPST), an actively managed ETF that seeks to provide current incom

  5. News Briefs - A former hedge fund manager is running a free masters program in financial engineering, Trinity Fund Administration Ltd joining the Mainstream BPO Group, Chelsea Clinton's husband joins Silicon Valley's Social Capital, The quants run Wall Street now[more]

    A former hedge fund manager is running a free masters program in financial engineering A former hedge funder is offering a free masters degree in a field that's integral to Wall Street's future. Igor Tulchinsky, a former managing director at Millennium Partners, a New York-based hedge fu