Dollar Hits 4-Month High on Rising Optimism Over Robust Economic Rebound
The US dollar index shot over 92.70 against a bouquet of currencies Friday, just notches away from the four-month high of 92.92 recorded in the earlier session and on track to record a 0.8% weekly increase as better-than-anticipated weekly jobless
Read MorePound Hits Seven Week Low as Consumer Price Inflation Weakens in February
The pound declined to seven-week low of 1.3677 against the greenback on intense selling pressure, before regaining some of the lost ground to trade at about $1.37 after the recent data indicated that the UK’s inflation rate unexpectedly declined. Consumer
Read MoreTurkish Lira Strengthens on Strong Rate Hike & Positive Economic Data
The Turkish lira strengthened to 7.20 per US dollar after the central bank of Turkey (Türkiye Cumhuriyet Merkez Bankası, TCMB) upwardly revised interest rates by 200 basis points to restrict inflation, while economists had projected only a 100 basis points
Read MoreUS Housing Starts Hit 6-Month Low as 10Y Bond Yield Hits 13-Month High
The US Treasuries with 10-year maturity period recorded a yield of 1.65% against the backdrop of Fed monetary policy decision scheduled later today. The market do not anticipate any key alterations in the feds fund rate or quantum of asset
Read MoreStrong Job Additions Propel Canadian Dollar to Two Week High
The Canadian dollar breached two-week high of 1.25 per US dollar in mid-March, against the backdrop of upbeat labor market related economic data. Specifically, the jobless rate declined to 8.2%, reflecting the lowest level in 11 months as the economy
Read MoreJapanese Yen Hits 9-Month Low Against US Dollar
The Japanese yen declined 0.376 points or 0.35% to trade at 108.85 against the greenback Wednesday, reflecting a 9-month low as the clearance of $1.90 trillion stimulus package proposed by the US President Joe Biden has sparked optimism about the
Read MoreBMO Capital – Australian Dollar to Breach 0.80 Versus US Dollar
The Aussie’s valuation saw another round of upward revision from analysts following the report of historically high trade surplus data last week, but lackluster global equity markets seem to be limiting further short-term uptrend in the currency. Financial markets remains
Read MoreRuble Strengthens On Series of Better Economic Data
The Russian ruble has been recovering for the past few weeks to trade at around $74, after hitting a fresh yearly low of $76.50 on January 29, backed by robustness in oil markets and hints that fresh western sanctions will
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