Jamie McDonald continues our exploration of the four main asset classes with an examination of currencies. Everything in the world is priced in one currency or another, so the fluctuations in their value can be the difference between a money making or money losing investment. This makes paying attention to currency moves especially important for investors who own assets priced in foreign currencies. McDonald breaks down this dynamic and the other knock-on effects that currency moves can have for government bond markets, commodities, and a handful of other asset classes. Not all currencies are made the same, and McDonald highlights the important differences between global trade currencies like the US dollar or euro, commodity currencies in both emerging and developed markets, pegged currencies like the Hong Kong dollar, and the increasingly important technology of cryptocurrencies.