Is currency debasement good for the dollar? Gold, the proven hedge for inflation, meanwhile, took another dive for its worst two-week outing since November. The dollar’s rally on Friday was particularly mind-boggling given the retreat in yields on the U.S. Treasury’s -year note - which had been the catalyst for the greenback’s strength since the start of the year.
“Coopetition” is an ungainly term at the best of times. But it appears that’s what’s happening among Swiss stablecoin issuers.
Bets that pushed the Swiss franc to a five-year high as the coronavirus crisis revived euro break-up fears have gone spectacularly sour, the latest in a line of franc moves to leave traders with bloody noses.