The MUFG Global Markets Podcast

MUFG EMEA

Join the MUFG Global Markets Research Team for expert analysis of the week’s most pressing topics impacting economies and the markets

  1. 5D AGO

    The US dollar advanced this week as economic data and the FOMC minutes prompted investors to pare rate cut expectations ahead

    Derek Halpenny, Head of Research Global Markets EMEA & International Securities speaks to Simon Mayes, Head of FX Sales for the UK and Ireland about the moves of the dollar this week. Derek also outlines elements of PM Takaichi’s speech and the implications for the yen and JGBs.

    10 min

  2. FEB 13

    How has Japan's election results & US data impacted the FX market?

    Lee Hardman, Senior Currency Analyst, and Andrea Hayward, Vice President of the Japanese Client Sales Group for EMEA in London, discuss the fallout from the lower house election in Japan. Will the USD extend its recent rebound on the back of the latest US employment and inflation data?

    7 min

  3. FEB 6

    How is the Lower House election impacting the yen?

    Lee Hardman, Senior Currency Analyst, and Abdul-Ahad Lockhart, Currency Analyst, discuss the outlook for the JPY ahead of this weekend’s Lower House election in Japan. The GBP has also taken a hit in recent days, what have been the main drivers of the weaker GBP?

    10 min

  4. JAN 30

    USD challenges to persist

    The US dollar is recovering into the end of the week after the announcement that Kevin Warsh is being nominated for the role of Fed Chair. Derek Halpenny, Head of Research, Global Markets EMEA & International Securities discusses the outlook for the US dollar with Julie Ellert, Head of FraBeLux FX Sales and whether the Warsh announcement changes the outlook for the dollar. Derek also discusses US dollar debasement risks and the impact on the yen from the upcoming snap election in Japan.

    13 min

  5. JAN 28

    January 2026 FOMC Preview - Dovish under pressure? (Podcast Edition)

    In this Podcast, George Goncalves, MUFG Head of Macro Strategy for the Americas discusses how January has been action packed, where isolating the signal from the noise means that the house view at MUFG hasn’t fundamentally changed. In our view, the US economy still looks to be setting down a path of a tale of two halves, with fiscal policies expected to mask underlying weakness in the first half of the year, and with stagnant labor demand being the dominant force in the second half that drags income and consumption growth down. We also discuss the upcoming first FOMC meeting of the year where the Fed may highlight the upcoming benchmark revision to nonfarm payrolls, that is expected to show even weaker jobs growth than previously thought, if they wish to project a more dovish tone, but markets are anticipating a relatively hawkish Fed that doesn’t cut again until June when Powell is out as Chair. Meanwhile the surprise factor for the global rates markets has been the large swing in JGB rates. George explores why this is happening and why what is taking place in Japan might be more moving than US data and the Fed, for now.

    16 min

  6. JAN 23

    How has the USD been impacted by geopolitical risks?

    Lee Hardman, Senior Currency Analyst, and Sara Maki, an MUFG Graduate Analyst, discuss why the USD has corrected lower over the past week even as US yields have risen. They also discuss the pick-up in JPY volatility after the BoJ’s latest policy update.

    14 min

  7. JAN 16

    How are political and intervention risks impacting the JPY?

    Lee Hardman, Senior Currency Analyst, and Sara Maki, an MUFG Graduate Analyst, discuss risks for the JPY from a snap election in Japan. Lee and Sara also discuss President Trump’s latest attack on the Fed’s independence. What is the likely fallout for the USD?

    11 min

  8. JAN 9

    Implications of US jobs data and possible Japan election

    Following the release of the first US nonfarm payrolls report of 2026, Derek Halpenny, Head of Research Global Markets EMEA & International Securities sits down with Sara Maki, an MUFG Graduate Analyst to discuss the implication of the jobs report for the dollar and Fed policy. Derek and Sara also discuss factors behind strong growth but weak jobs growth and the breaking news that Japan PM Takaichi is considering calling a general election in February. What will be the implications for the yen?

    15 min
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Ratings & Reviews

4.9
out of 5
15 Ratings

About

Join the MUFG Global Markets Research Team for expert analysis of the week’s most pressing topics impacting economies and the markets

Information

  • Creator
    MUFG EMEA
  • Years Active
    2018 - 2026
  • Episodes
    100
  • Rating
    Clean
  • Copyright
    © Copyright 2025 - MUFG EMEA All rights reserved.
  • Show Website
    The MUFG Global Markets Podcast

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