Australian Dollar hits Six-Week Low
On Wednesday, the Australian dollar fell to about 0.726 versus the US dollar, a level not seen since early October, as the latest wage growth figures simply met market expectations, frustrating traders who had been counting on robust results opposed
Read MoreUS Dollar Continues to Strengthen on Strong Economic Data
The US dollar index climbed over 96 on Wednesday, reaching levels previously seen in July 2020, after economic data revealed that US retail sales grew more than anticipated, putting further pressure on the Federal Reserve to raise interest rates sooner.
Read MoreMalaysian Ringgit’s Trend to be Decided by Multiple External Factors
As per an economist, the ringgit is forecast to be affected by external forces next week, with investors having a close watch on retail sales data from the United States. When queried if the ringgit would stay weak in the
Read MoreTurkish Lira Plunges to Over 10 Per US Dollar
The Turkish lira depreciated above 10 versus the US dollar in the second week of November, setting a new record low, as fears rose that the central bank will lower interest rates further despite growing inflation and general dollar strength
Read MoreEuro 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
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