Wells 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
Read MoreTurkish Lira Hits New All-Time Low of 13.90 as Economic Sentiment Hits 5-Month Low
Turkey’s lira fell to a new all-time low of 13.9 per dollar after ratings agency Fitch downgraded the country’s outlook due to concerns associated with monetary policy direction. The credit rating agency upgraded the debt to BB-, citing deteriorating public
Read MoreRussian Ruble Hits Seven Month Low of 76 per US Dollar
The Russian ruble slid approaching 76 per USD, the lowest since April pulled down by rising geopolitical fears, falling oil prices and global risk aversion due to a new Covid-19 strain identified in South Africa. The ruble plummeted more than
Read MoreSwiss franc Rebounds from 7-month Low as New Coronavirus Variant Increases Demand for Safe Haven Assets
The Swiss franc climbed to 0.926 per US dollar, rebounding from a seven-month low of 0.937 per US dollar reached on November 24th, as investors fled to safety after the discovery of the new Covid-19 type on the market. As
Read MoreEurodollar Hits Fresh 16-Month Low
The euro-dollar exchange rate fell by 0.0009 percent, or 0.08 percent, to 1.1271 on Monday, November 22, after falling to 1.1280 in the previous trading session. The dollar index rose beyond 96 points on Monday, with the US currency trading
Read MoreMexican Peso on Course to Hit Nine-Month Low
The Mexican peso changed hands at 20.85 per USD in mid-November, almost a nine-month low of 20.97 on November 3rd, despite falling oil prices and overall dollar strength as expectations mounted that the Fed will boost rates sooner to combat
Read MorePound Loses Gains Against US Dollar Despite First Rise in Retail Sales in Six Months
The British pound lost all of its recent gains on Friday, falling below $1.35 as traders continued to speculate on the US increasing interest rates quicker than European nations. Sterling rose to its highest level in a week earlier in
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