US Dollar Records its Worst Week Since August
The dollar index stayed near 96 Friday, indicating that it is on track to have its terrible week after August as risky financial assets recovered. The dollar remained weak versus stocks, bond rates, and currencies susceptible to risk as market
Read MoreUS Dollar Strengthens as PCE Consumer Prices Hit 39-Year High
Following a 0.4 percent decline in the earlier trading session, the dollar index traded almost unchanged to slightly higher on Thursday, rising over 96 as investors mulled a hefty collection of economic numbers. Personal expenditure growth would slow to 0.6
Read MoreUS Dollar Poised for Further Uptrend Against Canadian Dollar
While the Canadian dollar was trading about 1.284 in mid-December, it had weakened from a roughly one-week peak of 1.27933 reached on December 16th, as top central banks took a more hawkish tone in contradiction to the Bank of Canada’s
Read MoreSouth African Rand Has Bottomed Out
Three consecutive daily advances has assisted in fueling the South African rand to the forefront of the performance rankings amongst key advanced and emerging markets for the week ended December 19. The South African Rand surged all through the second
Read MorePound Gains Ground Against its Peers As BoE Lifts Rate Unexpectedly
The Bank of England increased its key interest rate by 15 basis points to 0.25 percent, prompting a rally in the British Pound. In the seconds after the news, the pound sterling was half a percent higher versus the euro
Read MoreKiwi Dollar Hovers Near 13-Month Low on Expectations of Further Policy Tightening by US Fed
On Wednesday, the New Zealand currency dropped below 0.6760 versus the US dollar, holding at 13-month lows and being sensitive to omicron-related stories and expectations of additional Federal Reserve policy tightening. Since the beginning of November, the Kiwi has been
Read MoreWells Fargo Predicts Dollar Strength to Continue for the Next Two Years
On Friday, the dollar index declined against a basket of currencies, as data indicated that US consumer price inflation surged to 6.8 percent in November, the highest level since 1982 and far beyond the Federal Reserve’s objective of 2%. Nonetheless,
Read MoreCommerzbank Forecasts Pound-Euro Rate to Hit 1.22 in First Half of 2022
As per foreign currency strategists at Commerzbank, a Frankfurt-based lender and worldwide financial solutions provider, the Pound to Euro exchange rate is projected to increase in the next months. According to the bank’s estimates for 2022, the Pound may increase
Read MoreCanadian Dollar Receives Bullish Outlook from National Bank of Canada
According to the National Bank of Canada, the Canadian Dollar’s recent dip just adds to its undervaluation compared to fundamentals, as they expect gains in 2022. The Canadian Dollar is among the better performing top currencies in 2021, but the
Read MoreAussie Rebounds Above 0.70 Vs. US Dollar as Job Advertisements Surge
After closing below 0.7000 versus the US dollar for the initial time since July 2020 on Friday, the Australian dollar recovered in the early Asian trading session Monday on the back of encouraging job ads data. In November 2021, job
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