This Month
- Opinion
- Currencies
Greenback’s strength drives rise of useless Big Mac money
An undervalued local currency is arguably good for little more than buying Big Macs at home, as geopolitical, pandemic and supply chain chaos funnel more capital into the safety of US dollars.
- Tom Richardson
NZ dollar surges after RBNZ turns up hawkish mood
The Reserve Bank of New Zealand sharply upgraded future interest rate increases to tackle a 30-year inflation spike. It raised the NZ cash rate to 2 per cent.
- Cecile Lefort
Crypto collapse turns South Korea against the ‘lunatic’ leader
The offer of 20 per cent yield on terra/luna catapulted Do Kwon to cult leader status with a fan following of ‘lunatics’ until it all came crashing down.
- Christian Davies and Song Jung-a
Lowered US tariffs on China may soothe inflation
Discussion of President Joe Biden easing US tariffs levelled against China could counter the inflationary pain.
- Cecile Lefort
IMF head begs investors not to abandon crypto despite crash
The bank’s managing director Kristalina Georgieva said regulators across the globe were responsible for putting up guardrails around digital currencies.
- Allyson Versprille and Emily Nicolle
- Analysis
- Cryptocurrencies
Public and private sectors to battle for control of crypto
The IMF is threatened by crypto and now calling for more regulation and a push into CBDCs and eMoney as dozens of emerging nations look at bitcoin’s potential.
- Tom Richardson
Lagarde says crypto is ‘worth nothing’ and should be regulated
Ms Lagarde said she’s concerned about people ‘who have no understanding of the risks’ of crypto.
- Cagan Koc
- Opinion
- Interest rates
Nowhere to hide as Fed liquidity evaporates
The tide of Fed liquidity has reversed, leaving a whole variety of public and private equity strategies stranded, writes Mark Tinker. Here’s who is swimming naked.
- Mark Tinker
Ethereum co-founder Buterin says he’s no longer a billionaire
The 28-year-old created Ethereum in 2014 - but the value of the cryptocurrency he founded has fallen by 55 per cent since last year.
- Scott Carpenter
Giant fund manager declares crypto unsuitable for large investors
PGIM finds bitcoin and other popular coins fail to meet the objectives of a currency, or provide a hedge against inflation.
- Richard Henderson
How a trash-talking crypto bro caused a $57b crash
The downfall of Luna and TerraUSD offers a case study in crypto hype and who is left holding the bag when it all comes crashing down.
- David Yaffe-Bellany and Erin Griffith
- Opinion
- Global economy
The greenback’s rapid rise increases risks for global economy
The risks are particularly acute for those developing countries already facing the clear and present dangers of crises over the economy, energy, food and debt.
- Mohamed El-Erian
- Opinion
- Cryptocurrencies
The crypto shake-out shows boring is back
True believers say crypto is a new global currency. Give it time, they say. Well, it has had time now, more than a decade in fact, and I still can’t use it to buy a coffee or any other daily items for that matter.
- Updated
- Katie Martin
- Analysis
- Cryptocurrencies
Inside the week that shook crypto to its core
The failure of once-hyped stablecoin luna has been described as “one of the greatest catastrophes crypto has ever seen”, sparking serious questions over the functioning of the entire crypto market.
- Scott Chipolina and Katie Martin
Crypto panic the same risk as a bank run: Yellen
US Treasury Secretary Janet Yellen said she would not characterise this week’s meltdown of TerraUSD “as a real threat to financial stability”, saying it was the same risk “known for centuries in connection with bank runs”.
- Updated
- Vildana Hajric and Christopher Condon
‘Everything broke’: Terra goes from DeFi darling to death spiral
All of the mechanisms that were supposed to keep TerraUSD, or UST, stable have collapsed this week.
- Emily Nicolle
- Opinion
- Russia-Ukraine war
Despite sanctions threat, China can’t do without greenback
Most countries concerned about US sanctions would struggle to reduce their reliance on the dollar and US banks, or curtail their commercial and technological dependence on the United States.
- Barry Eichengreen
Get ready for the reverse currency wars
Once central bankers outside the US might have embraced the rampaging dollar, now they feel shifts in exchange rates have added pressure to keep pace with the Fed.
- Tommy Stubbington and Kate Duguid
- Opinion
- Cryptocurrencies
Forget the hype – this is the real future of cryptocurrencies
History and the basics of the monetary system show that the future of cryptocurrencies, if any, is likely to be a single stablecoin backed by government guarantees.
- Tom Richardson
RBA turns ultra-hawkish with large interest rate increase
The Australian dollar powered higher after the RBA lifted its cash rate for the first time in more than a decade and signalled more to come.
- Cecile Lefort and Jonathan Shapiro
