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In this issue

After long months in the dark, currencies are coming back into the light

Forex chiefs hope for end of risk-on, risk-off trend

Traders have seen a resurgence in currencies as an asset class, reports Alice Ross

UBS probe: Singapore inquiry raises existential questions

An extension of a Libor investigation to an obscure form of derivative has led to existential questions about the city-state’s position in the market, says Jeremy Grant

Dollar: Optimism drives foreign investors to the currency

World’s foremost reserve currency has gained about 4% since the start of the year, writes Vivianne Rodrigues

Swiss franc: March to fair value could be slow

National bank shows no signs of tiring in efforts to support franc, reports James Shotter

Yen: BoJ’s battle plan takes currency traders by surprise

Shinzo Abe has returned as Japan’s prime minister, and launched a war against deflation

Euro: Why strength could be the single currency’s undoing

A lower level against the dollar would be more beneficial for peripheral states, reports David Keohane

Foreign investment: Brazil is now ‘ugly mirror image of Mexico’ in beauty parade

The currency warrior that used to repel capital inflows may have to start learning to attract them, reports Joe Leahy

Asia: Won blamed for bearish Korean stocks

Officials in Seoul are concerned about quantitative easing, writes Simon Mundy