The new highs seen in recent weeks are unlikely to mark the resumption of the sustained bull market that saw gold prices quadruple between 2001 and 2008. Assuming at least a partial recovery in the...

Expectations have been growing that the central banks of Canada, Norway and New Zealand will soon join Australia on what is thought to be a prolonged tightening cycle. This has been supporting the...

The re-pricing of oil in some unit other than the dollar should, on its own, have no direct effect on the value of the US currency. It might accelerate the rebalancing of official reserves away from...

The authorities in Asia may be protesting recent strong FX gains but there is little evidence they are intervening directly. Indeed, appreciation reflects both dollar weakness and local economic...