Calmed by uncertainty

This week, Co-Heads of G10 FX Brian Daingerfield and Paul Robson discuss sources of heightened market uncertainty and puzzle over the calm that has beset currency volatility.Key topics covered:1. Market reactions to the Middle East conflict2. The US dollar and market positioning3. Sterling’s surprising resilience4. The Yen and fiscal considerations5. Lasting themes for currency markets This episode was recorded on 26 March 2026.For any terms used please refer to this glossary https://www.natwest.com/corporates/insights/markets/glossary.htmlPlease view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html