Euro drama in currency markets
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 19 November 2021
⏱️ 10 minutes
🧾️ Download transcript
Summary
Read a transcript of this episode on FT.com
https://www.ft.com/content/896cc408-68c4-4fd1-960b-85bb18843384
Ford and General Motors said on Thursday that they are improving links with semiconductor manufacturers to improve their supply of electronic chips as the car industry confronts a shortage. Some foreign companies are still investing in Turkey despite the country’s ailing economy. Plus, the FT’s markets editor, Katie Martin, explains why the euro is losing value against the US dollar and why it could potentially make inflation worse.
Ford and GM pursue ties with semiconductor groups to boost chip supply
https://www.ft.com/content/06252ac7-5b10-45d8-834f-c7180722bda0
Euro hit by bets ECB monetary policy will diverge from major peers - with Katie Martin
https://www.ft.com/content/f09a8ba8-c196-46d0-8fe7-15d6ae64364f
Turkey defies warnings and cuts interest rates
https://www.ft.com/content/2db0434d-2851-4485-850d-06cfca32ff22
FT News Briefing wins Gold and a People’s Lovie Awards:
https://winners.lovieawards.com/?_ga=2.160925368.480629916.1637093197-697055072.1634666649#!p=118
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann and Michael Bruning. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.
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Transcript
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| 0:00.0 | Good morning from the Financial Times. |
| 0:01.7 | Today is Friday, November 19th. |
| 0:03.8 | And this is your FT News Briefing. |
| 0:08.4 | There's more monetary madness in Turkey, |
| 0:11.1 | but some foreign investors are still sinking money into the country. |
| 0:15.2 | Carmakers Ford and GM are forging friendships with chipmakers, |
| 0:19.4 | plus we haven't talked about currencies for a while. |
| 0:22.6 | And there's a good reason for that. |
| 0:24.8 | Currently markets for major currencies have been incredibly boring for a really long time. |
| 0:31.9 | But now there's drama starring the euro. |
| 0:34.8 | The FT's Katie Martin will tell us what's going on. |
| 0:37.6 | A Mark Filipino, and here's the news you need to start your day. |
| 0:44.2 | The global semiconductor shortage is forcing companies to find new ways to obtain chips. |
| 0:49.6 | Some big companies like Apple and Huawei have decided to make their own. |
| 0:53.3 | And yesterday, two big US carmakers said they are pursuing stronger ties with chipmakers. |
| 0:59.2 | Ford said it had signed a non-binding agreement with global foundries. |
| 1:03.1 | That's a New York chipmaker owned by Abu Dhabi's sovereign wealth fund. |
| 1:07.1 | GM said it's looking at a partnership with chipmakers like TSMC and Qualcomm. |
| 1:18.6 | Something unusual is happening in currency markets. |
| 1:22.0 | This week, the euro fell to its lowest level against the US dollar in 16 months. |
| 1:27.2 | To understand why this is a big deal, I have the FT's markets editor, Katie Martin on the line. |
| 1:32.2 | Hey, Katie. Hey, how you doing? |
... |
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