Hard Currency

As the ECB's rate cuts send the euro to a 14 month low, Delphine Strauss, currencies correspondent, asks Paul Lambert, fund manager at Insight Investment, how this changes the equation for the single currency. Also, are we about to see a new bout of volatility in the foreign exchange market - and what will the Scottish referendum mean for the pound?

With the dollar's rally putting emerging markets currencies under pressure, Delphine Strauss, currencies correspondent, asks Ilan Solot, strategist at Brown Brothers Harriman, whether emerging markets are now better placed to withstand a rise in global rates - and what political developments in Brazil and Turkey will mean for two of last year's 'fragile five' currencies.

The pound endured its biggest one-day drop in nearly six months on Wednesday. The Bank of England has been sending out mixed messages on when interest rate hikes may or may not occur over recent months - but did the consensus for rate rises change this week? And how might continued Eurozone weakness affect sterling? Also, how is the political situation in Turkey affecting the performance of the lira? Jane Foley, senior FX strategist at Rabobank, joins Thomas Hale.

The pound has risen rapidly over the past year. But it fell in July, and faces uncertainties when it comes to Scotland's independence referendum in September. Thomas Hale asks Phyllis Papadavid, currencies strategist at BNP Paribas, what the future holds for sterling. Is the pound overvalued? How much of an impact on the currency might Scottish independence have?

The dollar reached 10-month highs this week on the back of stronger economic growth in the US and a gradually changing horizon for monetary policy. Thomas Hale asks Ian Stannard, head of European currencies strategy at Morgan Stanley, how far the dollar might climb, and what this means for other currencies, especially the euro. Might the dollar’s resurgence also prompt a rise in volatility?

With the forex market showing only a modest reaction to tougher sanctions against Russia, Delphine Strauss, currencies correspondent, asks Elsa Lignos, strategist at RBC Capital Markets, whether currency investors have become less sensitive to geopolitical risk. Also, can we expect any sustained strength in the dollar after this week's rally; and should Canada's central bank try to talk down its currency?

As a rate cut by Sweden's central bank sends the krone to a 3 1/2 year low, Delphine Strauss, currencies correspondent, asks Chis Turner, strategist at ING, whether ECB easing has sparked a race to the bottom among the eurozone's neighbours. Also: how far will the ECB still be concerned about euro strength, and what to make of intervention to defend Kong Kong's currency peg?

With the violence in Iraq worsening, Delphine Strauss, currencies correspondent, asks Geoff Yu, currency strategist at UBS, how an oil supply shock would affect currency markets. Also, why dollar bulls face a difficult summer, and what to make of a stark change in policy from Norway's central bank.

With investors piling into higher-yielding currencies, James Kwok, head of currency management at Amundi Asset Management, tells Delphine Strauss, currencies correspondent, why the carry trade is the only game in town. Also, why the ECB will struggle to weaken the euro further - and the reasons for the New Zealand dollar's surge

As markets absorb the ECB's announcement of a negative deposit rate and credit easing, Delphine Strauss, currencies correspondent, asks Jeffrey Frankel, professor at Harvard University Kennedy School of Government, how far this takes the ECB in its fight against deflation - and whether it is becoming a covert actor in the so-called currency wars

With UK policy makers flagging concerns over the rising risks of a bubble in the housing market, Delphine Strauss, currencies correspondent, asks David Bloom, currency strategist at HSBC, how macroprudential measures would affect sterling. Also, what would be the knock-on effects of ECB easing for other currencies - and what does range-bound trading in the yen tell us about the state of the forex market?

With Mario Draghi's efforts to talk down the euro bearing fruit, Delphine Strauss, currencies correspondent, asks Jane Foley, strategist at Rabobank, whether investors are now expecting too much of the ECB. And with central banks around the world keen to see weaker exchange rates, are we on the verge of a new currency war?

With the euro close to 2 month highs against the dollar, Delphine Strauss, currencies correspondent, asks Steven Englander, strategist at Citigroup, what Mario Draghi will need to say to stop it rising further if the ECB keep policy unchanged today. Also, why the dollar is so soft - and how much longer can the carry trade in emerging market currencies continue?

With the greenback suffering from dismal first quarter growth data, Delphine Strauss, currencies correspondent, asks Peter Kinsella, strategist at Commerzbank, whether dollar bulls can expect any relief from Friday's US jobs data; how to explain the persistent slump in volatility; and whether M&A announcements should affect exchange rates.

Hard Currency is taking a short break over Easter, and will be back in the last week of April. Until then, you can read all your FX news at ft.com/fx