Recent volatility in the British Pound has been of great interest, especially after it bounced back during this quarter from a prolonged period of decline against both the Euro and the US Dollar that lasted several months. This was particularly notable given the Pound’s recent fall against the Euro and US Dollar, which began late last year.
Today’s British Pound trades at the top end of the 1.23 range against US Dollar. This is two pence more than one month ago.
The sudden uptrend in British Pound against US Dollar, as well as its steady climb over the past month, is due to a lower level of confidence in the US’s overall economy following the collapse at Silicon Valley Bank.
While Credit Suisse isn’t an American bank, Archegos Capital Management was established in the United States by Credit Suisse in 2021. It was a family office that managed Bill Hwangs assets. At one point, Archegos Capital Management had assets in excess of $36 Billion.
Mr. Huang was banned from trading in Hong Kong, regardless of his…
