Investment Commentary – September 2015

September 25, 2015

August brought with it a torrent of volatility and financial market turbulence as the headline of the month was the start of a managed devaluation of the Chinese Renminbi relative to the US dollar.

The Chinese were facing a material deterioration in their terms of trade as a result of being pegged to the US Dollar, chiefly relative to the QE weakened Japanese Yen and Euro. The question remains as to whether this will diminish or slow the appetite of the US and the UK to begin their process of normalising interest rates.

 

Investment Commentary September 2015

 


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