A week of relative calm in currency markets was shattered late-Easter Friday by a fresh round of chaos emanating from Trump’s social media feed.

Markets experienced another week of extreme volatility last week, as investors reacted to the chaotic policy orders and counterorders coming out of the Trump administration.

“Liberation Day” set off one of the worst crashes in risk assets worldwide in recent memory.

With new U.S. tariffs taking effect, two critical trends emerge: the de-dollarisation of global supply chains and disruption to established trade corridors. However, this translates to both risk and untapped potential for SMEs, including importers and exporters. To turn this challenge into a competitive advantage, read our full article.

Currencies traded within tight ranges of each other in a week when economic or policy news was relatively sparse

The Federal Reserve threw the dollar a bone last week, as it held policy steady and warned that it would not be in a hurry to lower interest rates at upcoming meetings.

This blog outlines key considerations in deciding how to set up a currency share class and implementing a share class FX hedging strategy.

The clearing out of stale dollar long positions over the last few weeks appears to have allowed the greenback to stabilise somewhat after its sharp sell-off so far in March.

We saw truly massive shifts in the FX market last week, with moves not seen since the early chaotic days of the COVID-19 pandemic.