(Bloomberg) Amid the equity-market tumult kicked up by escalating trade tensions, currencies are in an unusual state of calm. The reason is that traders are struggling to choose the winners and losers. Volatility in the $5.1-trillion-a-day foreign-exchange market has barely budged in the past two weeks, shaking off the threat of tit-for-tat tariffs between the world’s two largest economies. The stability contrasts with a jump in the Cboe Volatility Index, a gauge of price fluctuations in U.S. stocks.
Currency Traders Stay on the Sidelines of the Tariff Fight
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