LONDON : Big global currencies are rarely on different paths. Yet Japan's yen and China's yuan are slumping against the dollar while in Europe the euro is outperforming and sterling is on a tear. With economic and monetary policy outlooks varying, currency moves are increasingly out of sync with each othe
LONDON : Big global currencies are rarely on different paths. Yet Japan's yen and China's yuan are slumping against the dollar while in Europe the euro is outperforming and sterling is on a tear.
More pain is also anticipated for the yuan, trading near seven-month lows, as well as smaller Asian currencies. The yuan has slid almost 5 per cent so far this year, hurt by a weak economy and a wide interest-rate gap with the United States. "But elsewhere the dollar is not performing as well. It's continuing to weaken against some European currencies and also Latin American currencies," he said.
"Because we are so uncertain about so many things in this most unusual of economic cycles, we're just going to focus on what the next central bank policy move is."
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