The dollar rally, interest rate divergence and reasons behind the renminbi’s rise

After the dollar hit a six year high against the yen this week and gained against emerging markets, Delphine Strauss, currencies correspondent, asks Simon Derrick, foreign currency strategist at Bank of New York Mellon, whether the US currency’s rally is part of a long-running trend based on interest rate divergence or the result of a retreat from political risk. They also discussthe reasons for the renminbi’s rise and Swiss policymakers’ options to keep the franc in check.

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