Investing in Currencies

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Nigeria has sharply devalued its currency for the second time in eight months, as the west African country bids to clear up its messy system of exchange rates and attract investment to its flailing economy. The naira has tumbled this week after the methodology used to calculate the official exchange rate was changed, taking the currency closer to the black market rate.The move is widely seen as part of market-friendly reforms being...

By Samuel Indyk and Tom Westbrook LONDON (Reuters) -The dollar edged higher on Wednesday, heading for its biggest monthly gain since September, while the yen faced its sharpest monthly drop in almost a year as traders awaited a U.S. rates decision. The has gained 2.1% against a basket of major currencies this month as markets lowered expectations on the speed and scale of U.S. rate cuts given strong economic data and caution from central bankers. On the day, the dollar index was up 0.1% to 103.52, just below Monday's 103.82...