Author Archives: Paresh Upadhyaya

About Paresh Upadhyaya

Paresh Upadhyaya is Senior Vice President, Director of Currency Strategy, U.S. at Pioneer Investments. He joined Pioneer in 2011.

The Dawn of Brexit – Implications for Investors

Paresh Upadhyaya is Director of Currency Strategy, U.S. at Pioneer Investments. The UK’s vote to leave the EU will have global economic and financial consequences. During the initial days of uncertainty, global financial markets sold off sharply as markets were determining … Continue reading

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How Will the US Presidential Election Affect the Markets?

The presidential race is likely to turn much more conventional as it moves forward, with Hillary Clinton and Donald Trump as nominees for the Democratic and Republican parties, respectively. Both candidates remain deeply unpopular, with Trump less popular than Clinton. … Continue reading

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Three Currency Market Themes for 2016: #3 Emerging Markets Deleveraging

One of the unintended consequences of G-4 QE policies has been the development of EM macro imbalances. These imbalances have manifested themselves in rising current account deficits, rising inflation, robust credit growth and a rapid buildup of USD-denominated debt. During … Continue reading

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Three Currency Market Themes for 2016: #2 Renminbi Depreciation

On December 11, 2015, the People’s Bank of China (PBoC) announced a new renminbi (RMB) exchange rate index that sent a clearer message about a significant shift in the way the PBoC manages its exchange rate. The key reason for … Continue reading

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Three Currency Market Themes for 2016: #1 Divergence in Monetary Policies

As we predicted in January of 2015, the U.S. dollar (USD) experienced a bull market last year. That significant rally was surprisingly broad. In my recent Pioneer Blue Paper, U.S. Dollar Bull Market: Moving into Overshoot Territory in 2016, we examine … Continue reading

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