Disclaimer: Views in this blog do not promote, and are not directly connected to any Legal & General Investment Management (LGIM) product or service. Views are from a range of LGIM investment professionals and do not necessarily reflect the views of LGIM. For investment professionals only.

Currency

Currency

FX markets: EUR-eka!

What the latest change in tack from the European Central Bank, amid drumbeats of verbal intervention and yet more disappointing inflation data, might mean for currency markets.

By Christopher Jeffery

Currency

A spoonful of sterling...

The pound weakened versus major rivals in the first half of the year, presenting us with an opportunity to look again at the idiosyncratic factors that affect its performance – and the role of foreign-currency risk in multi-asset portfolios with sterling as a base currency.  ;
By Willem Klijnstra

Currency

King dollar shows no sign of abdicating

The dollar is rising. Could a presidential tweet or a Fed cut arrest its ascent?;
By Tim Drayson

Currency

GDP – Goes Down the Pound

Brexit hasn't even happened yet but it is already affecting the economy, creating volatility in the GDP data. With the data for the second quarter of 2019 being released, I spoke to Bloomberg about what is going on and whether the weakness in sterling will boost exports.;
By Hetal Mehta

Currency

China and manipulation machinations: the FX of devalued gestures

The US has labelled China a currency manipulator, but both that and the sudden but small preceding renminbi devaluation were more symbolic than anything else.;
By Willem Klijnstra

Currency

The currency flavour of the month

There hasn’t been much volatility in currencies lately. What’s going on?;
By Willem Klijnstra

Currency

Dabbling with Dalio

Commenting live on Ray Dalio's views is never going to be easy. While we wouldn't add to gold at these levels, over the medium term we see inflation as a key global risk that is under-priced and could undermine major currencies' real values. We explain why in the following Bloomberg interview.;
By John Roe

Currency

Stuttering sterling as a Brexit barometer

It's now three years since the UK's vote to leave the European Union. Against the backdrop of ongoing political uncertainty, I talked to Bloomberg about the prospects for sterling. Brexit blues have once again taken hold, with the pound down 5% since the start of May, so is it now time to buy with all the bad news reflected in the price?
By Christopher Jeffery

Currency

Why we invest in foreign currencies

As well as being a potential source of return, overseas currency exposure can help protect investors from a domestic crisis or unexpected domestic inflation. This can improve investment returns at times of broader uncertainty for our clients.    
By John Roe

Currency

Which currencies have been promoted to the Premier League?

Some emerging market currencies actually trade more like developed market currencies in response to interest rate changes. Let's sort the 'yield shielders' from the 'bond boosters'.;
By Willem Klijnstra

Currency

Do safe haven currencies protect you in a downturn?

As we approach what is potentially the end of the current economic cycle, we assess whether 'safe haven' currencies really do protect you in a downturn.;
By Jonathan Joiner

Currency

Emerging or sub-merging? The impact of currency on returns

When investing in local currency emerging market debt, currency risk can improve returns. But it can also erode performance in times of stress. Understanding how active managers handle this risk is crucial.;
By Francis Chua

Currency

Swimming with the currency: a turning tide for emerging markets?

Following the recent price action in emerging markets (EM), we zero in on the effect that currency can have on your EM bond portfolio’s performance. But how much of currency investing is a watertight science, and how much is carried by the wave of popular opinion?;
By Uday Patnaik

Currency

Monetary mayhem in the policy petri dish

The Hong Kong dollar is tied closely to the US dollar. Monetary policy made in Washington therefore applies directly in Wan Chai and Kowloon. In recent months, the Hong Kong Monetary Authority has been obliged to shrink its balance sheet rapidly to maintain the fixed exchange rate. This serves as a real-life policy experiment of the effects of quantitative tightening in a financial system. So far, nothing has blown up, but Hong Kong equities have been under pressure as financial conditions have tightened.;
By Christopher Jeffery

Currency

Risky or not? The currency hedging debate

Some investors propose hedging all currency exposure while others see no benefit to hedging at all, so is currency exposure a risk?;
By Martin Dietz

Currency

Bitcoin: The rise of a new currency?

Bitcoin was the talk of the town in the last few months of 2017, rising from relative obscurity to headline news as it rocketed in value. But can it overcome hurdles to cross over from a speculative asset to a mainstream currency?;
By Rahil Ram

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