After prime minister Shigeru Ishiba failed to win a majority in the House of Representatives after a snap election, the yen fell to a three month low, with the Bank of Japan's monetary policy board set to meet later this week.
China is renowned for keeping its currency on a tight leash, however, a host of internal and external factors have the potential to weaken Beijing’s grip on the renminbi over the coming months.
Singapore and Hong Kong have emerged as the leading destinations for forex traders, ahead of other international financial centres, including London and New York.
The latest Kyriba report shows how the rising US dollar and war in Ukraine impacted corporate earnings in the first three months of the year through foreign exchange (FX) volatility.
Corporate treasurers are in the driver’s seat during a period of market uncertainty that requires tough decisions such as how to use cash reserves more efficiently and manage local currency risk.
While recent downward pressure on the Hong Kong currency might show the increasing influence of China, the Hong Kong dollar peg is simply too useful to change.
BOCHK has implemented a multi-currency notional pooling solution in Hong Kong for a leading telecom group to manage multiple currencies for its international locations.