NewsBite

Currency wars

This Month

Andrew Boak at Goldman Sachs is tipping an Australian rate cut in February.

This US bank makes a bold call on the $A

The Australian dollar dropped below US64¢ last week, yet the investment giant says it’s time to offload the strong US dollar instead.

  • Cecile Lefort

October

The basic reason for AUD mispricing has been that relative interest rates in Australia were set too high, and too low.

Erratic Aussie dollar a factor in the RBA’s missed inflation targets

Over the past decade, the central bank’s policy choices have led to exchange rate levels that have made inflation challenges harder, not easier.

  • Huw McKay

July

Fines now apply for tourists seeking unwanted photos of traditional geishas in Kyoto.

Alarms, double prices: Japan is getting fed up with foreign tourists

Angst is rising in Japan over what locals are calling an “over-tourism crisis” – and some towns are taking action.

  • Jessica Sier

May

The yen this week dropped to its lowest level in more than two decades against the US dollar.

Why anger is rising over Japan’s ‘dangerously’ weak yen

Ryohei Kim is furious at the Bank of Japan because of the record-low yen and the impact it is having on his beloved video games.

  • Jessica Sier

April

Asian currencies are hurting agianst a strong USD.

Are we about to witness a rerun of the Asian financial crisis?

Investors are becoming increasingly alarmed as buoyant economic activity and high interest rates in the US risk triggering renewed instability across Asia.

  • Karen Maley
Advertisement
caption here

How long before the yen is again a safe-haven bet?

If inflation remains positive and interest rates continue to rise, the yen is likely to eventually strengthen.

  • Shiro Armstrong
It’s only a matter of time before China joins Japan in competitive currency devaluations,

Are we on the brink of an Asian currency war?

As tensions over China’s push into high-tech manufacturing flare, analysts warn that it’s only a matter of time before China follows Japan’s lead in competitive currency devaluations.

  • Karen Maley

December 2023

‘Bleeding sore’: Why the $A float 40 years ago was such a big deal

It took a lot of nerve to cut the Australian dollar loose, but former PM and treasurer Paul Keating says it was the moment the Australian economy grew up.

  • John Kehoe

October 2023

After more than four years building Koala, co-founder Dany Milham left the business in 2021 to start Milkrun.

FX firm ‘significantly overcharged’ start-up Koala, ex-staffer alleges

Foreign exchange trader Convera overcharged mattress company Koala and demanded the will of late music industry legend Michael Gudinski, a new claim alleges.

  • Lucas Baird

August 2023

South African President Cyril Ramaphosa delivers his opening remarks at the BRICS Summit in Johannesburg.

Six new countries to join BRICS as group seeks to counter G7

Saudi Arabia, Argentina, Egypt, Ethiopia, Iran and United Arab Emirates will become full members of the BRICS group in January.

  • Bloomberg News
Brazilian President Luiz Inacio Lula da Silva, Chinese President Xi Jinping, South African President Cyril Ramaphosa, Indian Prime Minister Narendra Modi and Russian Foreign Minister Sergei Lavrov at a BRICS summit in Johannesburg this month.

Bric set to rival US dollar as the world’s new dominant currency

Russia wants Brazil, India, China, and South Africa to help create legal tender that could challenge the greenback in international trade.

  • Joseph Sullivan

July 2023

Banks will hate it, but tourists and expat workers will be cheering as new tech lowers FX fees across SE Asia, while fintechs compete to transform the world’s largest financial market.

Bye bye bank fees, as tech cuts out costly foreign exchange pain

Banks will hate it, but tourists and expat workers will be cheering as new tech lowers FX fees across SE Asia, while fintechs compete to transform the world’s largest financial market.

  • Tom Richardson
There are risks on the horizon for the Australian dollar’s rally this week.

Aussie dollar’s rally may trip on policy meetings, China worries

The currency has been on an upswing this month, but there are some headwinds on the horizon including this week’s US Federal Reserve interest rate decision.

  • David Finnerty

April 2023

.

Why the Aussie dollar is holding its own in volatile times

If the Australian dollar is showing signs of greater stability, it may also deliver less downside protection in risk-off periods by not falling as much as in the past.

  • Scott Haslem
US office markets are in crisis.

‘Tear it down’: Subprime winner’s hard advice for office owners

Kyle Bass says the only way to solve office oversupply is demolition; Glencore is pulling out the stops to win over Teck investors; the governor of China’s central bank says “sooner or later” markets beat central banks. See how the day unfolded here

  • Updated
  • Andrew Hobbs
Advertisement

February 2023

The Australian dollar has distinct characteristics.

Why it’s time to hedge your portfolio

As central banks battle inflation a likely ‘revenge rally’ by the US dollar will give investors pause for thought.

  • Giselle Roux

January 2023

NAB has joined ANZ by minting an Australian dollar stablecoin.

NAB creates a stablecoin in boost for digital economy

NAB has minted a digital version of the Australia dollar that will be deployed into carbon markets and to reduce costs of sending money overseas.

  • James Eyers

October 2022

The PBoC has

PBoC sets yuan fix at lowest level in 14 years

What was already a tough year for China investors looks to be turning into something much worse.

  • Qizi Sun
The Aussie dollar continues to be the ‘whipping boy’ according to National Australia Bank.

Where to invest when the Aussie dollar is falling

The surging US dollar has sent the local currency to 2½-year lows which will benefit certain corners of the local sharemarket.

  • Alex Gluyas

The US hit to Australian wallets

Australians are finding travel to the US is now simple enough but financially much tougher due to the strength of the US dollar. That’s likely to get worse still.

  • Jennifer Hewett

Original URL: https://www.afr.com/topic/currency-wars-1n4o