From dollar to yen: answering policy questions from around the world

In this week’s episode of Currency Exchange, host Brian Dangerfield is joined by Paul Robson, to discuss the major themes driving foreign exchange markets. The conversation covers the ECB’s latest decision, upcoming meetings from the Fed, Bank of England and Bank of Japan, and the implications for the euro, pound, dollar and yen. Key topics: * FX markets remain remarkably calm despite an intense period of central bank and geopolitical risk.* The ECB remains cautious and highly dependent on developments in energy markets.* The Bank of England is unlikely to act next week but remains under pressure from persistent inflation concerns.* The first Fed meeting under Kevin Warsh could mark an important shift in communication strategy.* Dollar strength has been supported by better US data, but expectations may now be running ahead of reality.* The Bank of Japan is expected to hike rates, but markets remain focused on whether policymakers are willing to defend the yen more aggressively.  You can also find this episode of Currency Exchange on Spotify and Apple Podcasts. This episode was recorded on 11 June 2026. For any terms used please refer to this glossary https://www.natwest.com/corporates/insights/markets/glossary.html Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html