US dollar
Inside the week that shook the US Treasury market
Rates traders on the “scary” moves that almost broke the world’s safest and most liquid investment
Riksbank reshuffles strategic asset allocation
Dollar-denominated holdings increase while euro takes backseat in new “holistic approach"
Fed independence is under threat
US central bank faces increasing pressure although monetary policy autonomy looks safe for now
US dollar dominance: beyond the ‘exorbitant privilege’
Biagio Bossone argues that dollar ‘seigniorage’ extends into the very structure of global finance and its ‘exorbitant privilege’ is worth up to $804 billion annually
‘Trump slump’ hedges rise on rate cut fears
One dealer notes five-fold increase in number of clients hedging against possibility of faster easing
Trump 2.0 piles pressure on reserve managers
Speakers at Central Banking Spring Meetings discuss positioning, interventions and impact of lost aid
Stablecoins can bolster dollar’s international role, says Waller
Fed governor also warns against domestic and international regulatory fragmentation
US sanctions may create demand for Eurodollars – NBER paper
Economists compare today’s market to the one that emerged during Cold War era
Trump’s tariff threats fuel corporate FX hedging revamp
Treasurers mull options and longer-dated hedges in face of mixed signals on extent and timing of measures
Madagascar’s governor on targeting M3 over inflation
Central Bank of Madagascar head Aivo Andrianarivelo speaks about introducing an interest rate corridor, diversifying from dollars to gold, using instant payments to bolster inclusion and drawing on IMF sustainability funding
The BoJ’s path to policy normalisation
Will the Bank of Japan be able to normalise monetary policy following its successful exit from negative rates?
Central banking amid uncertainty and Trump 2.0
Deglobalisation set to challenge the central banking orthodoxy of the past 40 years
Cross-currency letters of credit gaining popularity in Asia
Divergent central bank policies see CNH LCs increasingly used to cover USD invoices
Working group minutes: reserve managers chafe at constraints
Officials at several central banks say limited investment universe restricts room for manoeuvre
Central banks to maintain independence despite threats – panel
Top central bankers discuss Trump, AI and why they plan to ignore IMF on rate cuts
Fed makes post-presidential election rate cut
Chair Powell stresses Trump’s election as president will have no effect on policy in the near term and he has no plans to resign at Trump’s request
Portraits on banknotes: a study of the gender gap
Only Australia’s currency has gender parity; overall, less than 10% of portraited banknotes – excluding Elizabeth II – feature female images
No systemic link between dollar and oil price yet – ECB paper
Increasing value of crude no longer weakens greenback, but does not “significantly” lift currency
Malaysia’s Zeti on the key skills needed to be a successful central banker
The Bank Negara veteran speaks about leadership skills, lessons from the AFC and 1MDB crises, her scepticism of inflation targeting, and how the Asia School of Business' masters synthesises theory with practical realities
Hélène Rey on cracking the code to the global financial cycle
The dollar and financial cycle move together. For the first time, economists think they know why