US dollar
Japan’s government reportedly intervenes in FX market
First intervention in nearly two years after yen fell to weakest level since July 2024
Hedge ratios help explain swings in dollar – BIS study
Data on eurozone funds helps explain currency’s reaction to tariff announcements, authors say
US policies eroding dollar’s position, say Knot and Obstfeld
Euro and yuan unlikely to supplant greenback, but ‘more multipolar’ system could arise
Sama’s Al-Sayari on financial resilience and the future of the riyal
The Saudi Central Bank governor speaks with Christopher Jeffery about the Middle East conflict, the transformation of the Saudi economy, improving prudential oversight and contingency planning, and the development of the fintech and tokenised ecosystem
HKMA awards Hong Kong’s first stablecoin licences
HSBC and Standard Chartered-backed JV to mint HKD-denominated assets from mid-2026
Central banks face ‘double whammy’ from Iran war
Policy-makers will have to tackle impact of higher inflation and greater fiscal stimulus
Geopolitics and debt are headwinds for dollar – Hammack
Cleveland Fed president says greenback’s long-term pre-eminence cannot be ‘taken for granted’
Reserve managers weigh tactical response to Middle East conflict
Some make case for ‘nimble’ duration management, but others say uncertainty is too high
Dollar still ‘special’ but Treasuries losing shine – NBER paper
Authors show ‘strong divergence’ between global roles of greenback and US government bonds
PBoC reserve ratio cut spurs short-term FX hedging
Removal of 20% forex risk rule drives exporters towards options and onshore forwards
Central Banking Awards 2026: the winners in full
Awards recognise extraordinary achievements in another challenging year for central banks
Central banks in China, Hong Kong and Taiwan hold rates
Taiwan tilts hawkish, Hong Kong follows Fed and China expected to ease by 10bp this year
Financial services: Citi
The US bank has striven to provide clients with high-level advice as well as service breadth, technical expertise and execution
Australia hikes rates to combat inflation
RBA says price rises are result of capacity pressures, and persistent oil rally may worsen situation
No signs yet of war triggering financial distress, analysts say
Markets have been orderly so far, but picture could change if Strait of Hormuz remains shut
Governor of the year: Jerome Powell
The Fed chair has shown high levels of integrity and resolve in upholding his public duty in the pursuit of price stability and maximum employment
Reserve manager: Central Bank of the Philippines
New risk management approaches, forward-looking SAA tranching, internal capacity building and a redesigned external fund management framework set the BSP apart
Fed independence key to dollar strength – FOMC member
Cleveland Fed chief says geopolitics and high US debt among factors that could ‘unseat’ greenback
Fintech Benchmarks 2026 – executive summary
Benchmarks shed light on the race between different digital assets, public and private
PBoC plans more market-based monetary policy formulation
Analysts expect Middle East conflict to have little impact on policy in China
Monetary policy in Asia since the pandemic
Asean+3 nations must plan to tackle ‘disturbance’, ‘structural’ and ‘radical’ uncertainty using a disciplined policy mix to preserve price stability amid global shocks, writes Dong He