Tag Archives: FX market

Failed Discipline, Failed Reforms and Grexit: Why the Euro Failed

There is no substitute for the discipline of a market that cannot be manipulated by political elites. It’s not that difficult to understand why the euro is doomed to fail. Given its structure, there is no other possible outcome but … Continue reading

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Will China’s Currency Peg Be the Next to Fall?

I suspect China’s leadership is wary of unpegging the RMB for one reason: the FX market is too large to manipulate for long. What is China’s currency the renminbi (RMB, a.k.a. yuan) really worth? Nobody knows, because price discovery has … Continue reading

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