Today, many consummate observers of the forex space would tell you that the competing market forces of ‘risk on’ or ‘risk off’ have - at long last - yielded to more traditional drivers of currencies, such as the ‘relative differentials’...

The net injection of liquidity at last week’s three year longer-term refinancing operations (LTRO) from the European Central Bank may have missed the more aggressive of market expectations, but the bottom line is that the heavy amounts of longer-term borrowing...

Why have the 2011-2012 global “risk rallies” been just “so-so”? The answer to this question lies partly in an understanding of central bank quantitative easing, and partly in an understanding of macroeconomic adjustment with a hint of “moral hazard” avoidance...

The timing of central bank balance sheet expansion - or quantitative easing - is going to be a big driver of G10 currencies throughout 2012. This is easy to understand: printing more of - or debasing the domestic currency -...

One of the more important currency issues of the New Year has been trying to rationalise the general buoyancy of risk assets - including equities - with the decline in the value of the euro, since the latter has historically...