China Trade Surplus Records New High in October
However, it is under pressure due to a broad depreciation among major currencies against the greenback, which is occurring amid a global central bank push back against expectations of earlier interest rate hikes. The offshore yuan held firm around 6.3970
Read MoreAustralian Dollar Posts 2% Weekly Decline as RBA Reaffirms Dovish Stance
After reaffirming its dovish position in its quarterly economic statement, the Reserve Bank of Australia pushed the Australian currency below 0.7400 versus the US dollar on Friday, putting it on course for a nearly 2 percent weekly loss. While boosting
Read MoreJapanese Yen Hovers Around 3-Year Low as BoJ Reaffirms Ultra-Loose Monetary Policies
The Japanese yen maintained steady and ended at 113.65 per US dollar on Friday, benefiting from a broad unwinding of long bets in risk currencies after the Bank of England’s unexpected decision to maintain interest rates at current levels. The
Read MorePound Dips Below 1.35 Versus US Dollar as BoE Remains Dovish
The pound-to-dollar exchange rate fell by 0.0013 percent, or 0.09 percent, to 1.3495 on Friday, November 5, from 1.3507 in the previous trading session. During its November meeting, the Bank of England voted by a 7-2 margin to maintain its
Read MoreBritish Pound Rebounds on Three Month High Services PMI Data
While investors assess whether the Bank of England will raise interest rates when it meets on Thursday, the British pound fell below $1.37 at the start of November. At the same time, the Federal Reserve is widely expected to announce
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