GOLDILOCKS
Vietnam Currency Intervention:
"The State Bank of Vietnam's deputy governor said it was ready to intervene in the foreign exchange market “even today if needed.” With the won shy of a 17-month low against the greenback, South Korea pledged to respond immediately to excessive currency market volatility." 3 hours ago
This is what happens when geopolitical tensions increase on the scale we are seeing today.
Do you see what I mean? We have shared in this room that many currencies begin to move during wartime. (Israel and Iran
)
It is history repeating itself. Let's see what happens. The above doesn't even talk about the trade wars and currency wars going on.
Major events and shake-ups like these create credit valuation adjustments.
© Goldilocks
Bloomberg
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