At the end of a busy week in the markets, Derek Halpenny, Head of Research Global Markets EMEA & International Securities sits down with Simon Mayes, Head of UK, Ireland & Swiss FX Corporate Sales to discuss key developments and implications for the FX markets. Derek outlines the prospects for USD/JPY sustaining the move lower following probable intervention by the BoJ/MoF and delves into the implications following this week’s central bank meetings. What do the meetings mean for BoE and ECB policy rate views and what impact will a Kevin Warch Fed have on the dollar?

Lee Hardman, Senior Currency Analyst, and Henry Cook, Senior Economist, discuss how the FX majors have been performing ahead of the upcoming BoJ, Fed, BoE & ECB policy meetings. Wil the European central banks stick to more hawkish guidance than the BoJ and Fed?

News that the Strait of Hormuz has been reopened by Iran has helped push Brent crude oil back below the USD 90pbl level. Derek Halpenny, Head of Research Global Markets EMEA & International Securities speaks to Matthieu Gloux Head of Global Client FX Sales about the implications for the US dollar and monetary policy if this re-opening proves lasting.

Lee Hardman, Senior Currency Analyst, and Seiko Kataoka Fisher, Director in Japanese Customer Sales for EMEA in London, discuss the initial FX market reaction to the ceasefire agreement between the US and Iran. Will the USD continue to weaken if military tensions in the region continue to de‑escalate?

We are entering week 5 of the conflict in the Middle East and this week Derek Halpenny, Head of Research Global Markets EMEA & International Securities talks to Chris Jakubowski, from FX Institutional Sales, about the potential for de-escalation versus a scenario of deterioration and what that would mean for the US dollar and G10 FX. Derek and Chris also discuss the ECB and BoJ reaction functions and what lies ahead for the markets next week which culminates with the NFP release.

Lee Hardman, Senior Currency Analyst, and Henry Cook, Senior Economist, discuss how major central banks are responding to the escalating conflict in the Middle East and its impact on global energy prices. With the Fed showing less urgency to tighten policy in response to the latest energy price shock, could this help moderate USD strength?

With the conflict in the Middle East set to extend into a third week, Derek Halpenny Head of Research Global Markets EMEA & International Securities talks to Andrew Mitola, Director in FX Corporate Risk Solutions in New York about three scenarios for how the conflict unfolds from here and what the implications for the US dollar would be based on potential future moves in crude oil prices. Derek also discusses the central bank reaction function to possible inflation pick-ups and what to expect from the central bank meetings taking place next week. With USD/JPY close to the 160-level is the MoF in Tokyo ready to intervene?

Lee Hardman, Senior Currency Analyst, and Abdul-Ahad Lockhart, Currency Analyst, discuss why the USD has rebounded in response to the Middle East conflict.

How does it fit with historical FX performance during energy price shocks?