
Global Finance: What are the key issues on your radar?
Michael Curran: The issue we see overshadowing everything else is the set of extraordinary monetary policies being followed in Europe, and the impact these policies are having on currency and underlying markets. The impact hasn’t been fully comprehended yet, but, based on the available evidence, it is likely to ensure another eventful year for the FX markets in 2016.
GF: How is the renminbi’s liberalization impacting foreign exchange?
Curran: The announcement at the end of 2015 that China’s renminbi is to be included in the IMF’s Special Drawing Rights basket raises some interesting long-term questions. Not least of these will be whether FX reserve managers globally see this as a reason to significantly increase their exposure to the currency within their portfolios. Time will tell.