For decades, the playbook was simple. When markets turned defensive, the US dollar strengthened. Equity selloffs, widening credit spreads, and rising uncertainty almost automatically pushed
Foreign exchange hedging has quietly moved from a back office function to the center of macro strategy. In 2025, some of the largest flows in
The European Central Bank’s decision to keep rates unchanged was widely expected, yet the reaction in EURUSD revealed something more nuanced. Rather than treating the
The US Dollar Index is often treated as a simple scoreboard of American economic strength. When it rises, the assumption is that the US outlook
The Japanese yen has returned to the center of global currency markets as volatility builds ahead of key Bank of Japan decisions. After years of
The latest UK inflation reading landed with enough surprise to move headlines, but it failed to move sterling in a lasting way. Instead of responding
The US dollar has remained resilient even as major central banks begin to move along increasingly different policy paths. After a long period where global
Currency markets are showing an unusual calm even as the global policy calendar grows crowded. Major central bank meetings, key economic releases, and fiscal updates
The US dollar is once again being shaped by differences in global monetary policy rather than by domestic data alone. After a period where central
Foreign exchange markets are undergoing a structural shift as FX forwards increasingly dominate price discovery. While spot trading still sets headline levels, it is no
