On Asian Currencies, Australia & Canada

Asian currencies are in crisis, but the situation isn’t as dire as the Asian Financial Crisis of 1997, writes William. Today, he explores what’s at stake and the reasons that the US Treasury department has intervened to shore up the yen—including self-interest. … Also: Australia’s rate-hike cycle is ending, not with a bang but a shrug. … And: A look at the trade war heating up between the US and Canada, again. … Plus: Canada’s strong stock market this year doesn’t reflect its economy as much as what’s happening in the worlds of energy and finance, Toby observes, given its composition of industries. Earnings have been driving the Canadian market higher, not P/E multiple expansion.