Euro Hits More than One-Year Low Against US Dollar
The euro fell to below $1.15 in the second week of November, its lowest level since July 2020, after the United States reported higher-than-expected inflation, which fueled a rise in the dollar. Meanwhile, policymakers at the European Central Bank (ECB)
Read MoreChina 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
Read MoreChina Manufacturing Contracts for Second Successive Month
The official NBS Manufacturing PMI for China unexpectedly fell to 49.2 in October 2021 from 49.6 a month earlier, falling short of market expectations of 49.7. The official NBS Manufacturing PMI for China unexpectedly fell to 49.2 in October 2021
Read MoreRussian Ruble Strengthens to 16-Month High as Crude Demand Surges
The Russian ruble rose to a 16-month high in the final week of October, trading at 70 per USD, after Russia’s central bank hiked its main policy rate by 75 basis points (bps) to 7.5 percent, the most since June
Read MorePound Holds Steady On Optimistic Economic Outlook By Finance Minister Rishi Sunak
At the end of October, the British pound traded at $1.373 per dollar as investors absorbed the UK’s annual budget and expenditure review amid worries about inflationary pressure and the prolonged energy crisis, according to Bloomberg. Britain’s economy is on
Read MoreNew Zealand Trade Deficit Widens in September
Despite news of a larger-than-expected trade deficit in September, the New Zealand dollar continues to gain ground versus the Eurodollar and other major currencies. It is noteworthy that imports expanded at a faster pace than exports throughout the period under
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