Concern the U.S. fiscal situation will deteriorate may push the dollar down versus the euro and the yen, according to HSBC Holdings Plc, Europe’s biggest bank.
Investors should buy the pound against the euro on speculation the Bank of England will raise interest rates “well before” the European Central Bank, according to HSBC Holdings Plc.
The yuan had its biggest weekly slide since September 2011 in offshore trading after China manufacturing data added to signs of a slowdown in the world’s second-largest economy.
Investors seek the yen as a haven from turmoil sparked by a debt crisis, sending it to a postwar high against the dollar and threatening to deepen Japan’s economic stagnation. The year: 1995.
"The last time the renminbi faced significant weakening pressure, there was a clear policy preference for higher volatility in the currency market."
- Paul Mackel on Dec 09, 2014