The Currency Exchange - An FX Podcast by NatWest

In this episode of Currency Exchange, Brian Daingerfield and Ian Vanderhorn discuss the recent LDP leadership election in Japan, its impact on the yen, and the implications for fiscal and monetary policy. They also explore the potential coalition dynamics and the Bank of Japan's decision-making process amid political uncertainty. This episode was recorded on 9 October 2025, and captions are a...

This week host Eimear Daly is joined by Brian Daingerfield and Paul Robson to discuss the major themes affecting currency markets. They focus on the Federal Reserve's recent interest rate decision and the Bank of England's interest rate hold. They analyse the implications of these decisions on the dollar and sterling, the impact of economic data on market expectations, and the significan...

In this episode of Currency Exchange, host Brian Daingerfield and Ian Vanderhorn discuss the current state of the US dollar and the Federal Reserve's expectations for interest rate cuts. They highlight the implications of recent labour market data and inflation readings, as well as the legal back-and-forth surrounding President Trump’s tariff moves.  Remember to hit subscribe so you can liste...

The Currency Exchange returns from the summer break, with host Eimear Daly and guest Paul Robson discussing recent dynamics in currency markets. They focus on the sensitivity of sterling to fiscal developments, the outlook for the UK economy, and the implications of political risks in France on the euro. They also analyse Poland's recent interest rate decisions and the potential for its curre...

Listen to host Brian Daingerfield and guest Ian Vanderhorn discuss recent developments in foreign exchange markets, focusing on the strengthening of the dollar due to trade deals, the Federal Reserve's stance on interest rates, and the contrasting approaches of central banks like the Bank of Canada. They also analyse the implications of the quarterly refunding announcement by the Treasury and...

In this episode, host Eimear Daly is joined by Brain Daingerfield and Paul Robson to discuss the significant impact of Japan's upper house elections on FX markets, the implications for fiscal policy, and the potential for changes in leadership. They also explore the Federal Reserve's upcoming policy decision, the European Central Bank's recent hold, and the outlook for the Bank of E...

Brian Daingerfield and Paul Robson dig into the latest US and UK data prints and discuss how labour and inflation trends are affecting their views on the GBP and USD outlook. They look ahead to what we might expect from the forthcoming European Central Bank meeting – and the potential impact on the outlook for EURUSD. And they consider the impact of recent shifts in US trade policy on markets more...

This week, Eimear Daly and Kevin Cummins discuss the latest US labor market report, which revealed a surprising increase in job growth. They analyse the implications of the report for the Federal Reserve's monetary policy, particularly in light of inflation concerns and market reactions. The conversation also touches on the performance of the government sector and the outlook for emerging mar...

In this episode, host Brian Daingerfield and guest Paul Robson discuss the recent developments in the Middle East and their impact on foreign exchange markets, particularly the dollar's safe haven status. They delve into the Federal Reserve's differing views on interest rates and the implications for the dollar, and cover the performance of sterling amid global economic changes and the f...

This week Joann Spadigam is joined by Paul Robson in a Bondcast/Currency Exchange crossover to talk about interest rate holds in the UK and US. Were there any clues about the nature of future decisions? Away from the central banks, they also discuss the impact of military tensions on market sentiment.  Remember to like and subscribe so you can listen to the latest episodes in this series as soon a...

This week, Eimear Daly and Paul Robson discuss recent UK economic data, its implications for the Bank of England, and the outlook for sterling. They delve into the labour market's performance and the significance of upcoming interest rate decisions. They also talk about the potential impact of political risks in emerging markets, particularly in Europe. Remember to hit like and subscribe so y...

In this episode of Currency Exchange, Brian Daingerfield and Paul Robson discuss the current state of foreign exchange markets, focusing on the influence of the US dollar, recent decisions by the European Central Bank (ECB), and the fortunes of sterling. They also analyse economic data, tariff impacts, and the outlook for central bank policies. Remember to hit like and subscribe so you can listen...

This week Eimear Daly, Brian Daingerfield, and Paul Robson discuss the current state of global markets, focusing on US trade re-escalation and de-escalation – and the impact on global FX markets.  Remember to hit subscribe so you can listen to the latest episodes in this series as soon as they're available and get our views on the big themes and events moving markets and shaping the economy....

In this episode, Brian Daingerfield and Eimear Daley discuss the current state of the dollar, emerging markets, and the implications of recent US trade policies. They analyse the impact of the recent tax bill in the US and the political landscape in Poland following its recent elections. Remember to hit subscribe so you can listen to the latest episodes in this series as soon as they're avail...

This week Brian Daingerfield and Paul Robson discuss the current state of global markets, focusing on unexpected strength in the UK economy and the impact of recent US trade de-escalation on the dollar. But what challenges lie ahead for growth and monetary policy on both sides of the Atlantic? This episode was recorded on 15 May 2025. For any terms used please refer to this glossary https://www.na...

This week Brian Daingerfield and Paul Robson discuss the latest developments in foreign exchange markets, focusing on the Bank of England's recent decisions, the implications of the UK-US trade agreement, and the Fed's cautious stance. They analyse how these factors impact the value of sterling and the dollar, as well as the broader economic landscape. Remember to hit subscribe so you ca...

This week, Brian Daingerfield and Ian Vanderhorn discuss the recent Canadian election results, which saw former central banker Mark Carney elected as prime minister. They analyse the continuity of the new coalition government, the challenges posed by trade arrangements, and the performance of the Canadian dollar amid the current economic backdrop. The conversation also turns to the dovish stance o...

In this episode Brian Daingerfield and Paul Robson discuss the current state of foreign exchange markets, focusing on the volatility of the US dollar, the dynamics of European currencies, and the implications of FX reserve diversification. They analyse the impact of US economic policy on currency strength, the outlook for the euro and sterling, and the potential shifts in the Bank of Japan's...

In this crossover episode of Bondcast and Currency Exchange, Imogen Bachra is joined by Brian Daingerfield and Oriane Parmentier to discuss all things tariffs, and the political situation in France. It's not just markets that are surrounded by uncertainty. How the Fed will dictate interest rates now seems less clear than it did just a few weeks ago, owing to likely higher inflation alongside...

In this episode, Eimear Daly and Paul Robson discuss recent US auto tariff announcements and their muted market reaction and the implications of the UK Spring Statement on fiscal policy. Against this backdrop and inflation data, how will the Bank of England set monetary policy? And what to make of the outlook for sterling?  Remember to hit subscribe so you can listen to the latest episodes in this...

In this episode, Eimear Daly and Brian Daingerfield discuss the recent Federal Reserve meeting, focusing on updated economic projections and the implications for interest rates. They also explore the distinction between soft and hard data in the US economy and how this affects the Fed's wait-and-see approach to decision-making. The conversation also covers the Bank of Japan's recent inte...

In this episode Brian Daingerfield and Paul Robson discuss the current dynamics of the foreign exchange markets, focusing on the influence of US politics on euro-dollar rates. They explore the drivers behind the recent movements in currency values, the outlook for the Euro and Swedish krona, and the position of sterling amidst changing global policies. The conversation highlights the importance of...

In this episode of the Currency Exchange, Eimear Daly and Giovanni Zanni discuss significant developments in European defence spending and the implications for the economy and financial markets. They also analyse the European Central Bank's decision to cut rates on Thursday, and explore what's next for the Euro and the US dollar.  Remember to hit subscribe so you can listen to the latest...

In this week's episode, we dive into the fast-moving world of currency markets with a special focus on the latest developments in US trade policy. Host Eimear Daly is joined by US FX and rates strategist, Ian Vanderhorn, to break down the potential impact of Trump's shifting tariff policies, the implications for the Canadian dollar, and the broader global economic landscape. Remember to...

In this episode, Eimear Daly and Paul Robson discuss the significant implications of the Trump presidency on European security. They explore the potential shifts in defence spending, and what it may mean for the EUR and regional European currencies, as well as the consequences for regional government bond markets. They also delve into what this week's key UK data may mean for Bank of England...