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Foreign exchange

  • Thursday, 17 April, 2025
    The Big Read
    Is the world losing faith in the almighty US dollar?

    Donald Trump’s trade war is forcing investors to confront the possibility that the dominance of the US currency might fade — or even end

    Montage image of Donald Trump, overlaid with cash in dollars and a red line chart
  • Thursday, 17 April, 2025
    Trump tariffs
    Trump’s tariff threats boost demand for currency hedging

    Exchange rate volatility surges to levels last reached during collapse of Silicon Valley Bank and Credit Suisse

    An electronic board displays currency information with the flags and currency codes of China (CNY), EU (EUR), Japan (JPY) and Mexico (MXN)
  • Monday, 14 April, 2025
    US dollar
    Dark days for the less-mighty dollar

    The world’s reserve currency gets a sharp shock

  • Monday, 14 April, 2025
    UnhedgedRobert Armstrong
    The tariff crisis is not existential Premium content

    And lessons from ‘73

    Street sign for Wall Street in New York City, with tall buildings in the background
  • Sunday, 13 April, 2025
    Huw van Steenis
    The ‘Nixon shock’ might help us make sense of the Trump one

    Events of 1971 ushered in the era of modern finance

    President Richard Nixon addresses  Congress to explain his new economic policy in 1971
  • Sunday, 13 April, 2025
    How will the ECB respond to Trump’s trade war?

    Market Questions is the FT’s guide to the week ahead

    The headquarters of the European Central Bank
  • Saturday, 12 April, 2025
    US dollar
    US dollar’s haven status under threat, fund managers warn

    Erratic policymaking and rising trade barriers are jeopardising confidence in the currency

    Trader holds his head in front of screens showing currency prices
  • Friday, 11 April, 2025
    On Wall StreetBrendan Greeley
    The dollar system has always been vulnerable to presidential whim

    But only now are asset managers beginning to reconsider the story of America as an inexhaustible well of safe bets

    (L-R) Jay Powell, chair of the US Federal Reserve, and Mark Carney, then governor of the Bank of England in August 2019, during the Jackson Hole economic symposium in Wyoming, US
  • Friday, 11 April, 2025
    Global Economy
    ‘This is not normal’

    An end-of-week inbox raid

  • Friday, 11 April, 2025
    The Long ViewKatie Martin
    Trump has added a political risk premium to US assets

    Parking money in America is no longer the routine, fuss-free, neutral option

    Traders on the floor of the New York Stock Exchange
  • Friday, 11 April, 2025
    Michael Pettis
    The US would be better off without the global dollar

    Trump’s tariffs were erratic and flawed but imbalances in the world economy are real

    US dollars
  • Thursday, 10 April, 2025
    Renminbi
    Chinese renminbi hits 18-year low as it becomes trade war flashpoint

    PBoC has allowed weakening in ‘fixing’ rate for the onshore currency for six consecutive sessions

    Bundles of Chinese one hundred renminbi and US one hundred dollar banknotes are neatly arranged in alternating rows
  • Wednesday, 9 April, 2025
    Global Economy
    Top ECB policymaker warns ‘worst-case scenarios’ are materialising

    Bank of Spain governor says global investors may reassess role of US dollar as haven currency

    José Luis Escrivá
  • Wednesday, 9 April, 2025
    US trade
    Deutsche’s dollar downer

    ‘The end of an era’

  • Tuesday, 8 April, 2025
    Global Economy
    Avoiding Kindleberger’s Trap

    Why doubts over the Fed’s dollar swap lines are such a big deal

  • Tuesday, 8 April, 2025
    Renminbi
    China offers first hint of devaluation with weak renminbi fix

    Beijing permits exchange rate to drop below long-defended level

  • Sunday, 6 April, 2025
    Martin Sandbu
    The battle for the global payments system is under way

    Some Europeans are looking to the next geoeconomic contest

    euro banknotes
  • Friday, 4 April, 2025
    US economy
    America’s endangered ‘exorbitant privilege’

    Et tu, Goldman?

  • Friday, 4 April, 2025
    UnhedgedRobert Armstrong
    What the dollar’s bad day shows Premium content

    Tariffs are supposed to be dollar positive. What happened?

    A montage of $100 bills
  • Thursday, 3 April, 2025
    Trump tariffs
    Dollar drops as Trump’s tariffs stoke economic fears

    European and US markets fall sharply as investors react to trade broadside

    A close-up photo of $100 banknotes
  • Thursday, 3 April, 2025
    Global Economy
    ‘Beware a dollar confidence crisis’ — DB

    Taking another look at the puzzling greenback puke

  • Thursday, 27 March, 2025
    LexDollar Tree Inc
    How a US discount retailer learned the hard truth about low prices Premium content

    Family Dollar was a bet on spending by the poorest urban Americans, and they are not doing so well

    People walking past a Family Dollar store at Humboldt Park, Chicago
  • Monday, 24 March, 2025
    Ruchir Sharma
    The end of American exceptionalism goes way beyond Trump

    It has been building, and is likely to be unravelling, for a long time

    A trader works on the floor of the New York Stock Exchange
  • Monday, 24 March, 2025
    FT News Briefing podcast12 min listen
    Foreign investors feel the pinch of US stock slump

    A sell-off in US equities and currency ends ‘virtuous cycle’ for fund managers in Europe

  • Sunday, 23 March, 2025
    US equities
    Trump’s policies shatter Wall Street’s ‘US exceptionalism’ trade

    Stocks and dollar fall in tandem as tariffs dent outlook for American economy

    The New York Stock Exchange
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