Pound 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

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New 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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Euro Plunges as Bundesbank Predicts German Economic Growth to Miss Prior Outlook

The Eurodollar plunged against the greenback today following the release of poor German Ifo business climate index data. The Eurodollar sell-off also intensified with the release of the Bundesbank report stating that the earlier economic growth outlook issued in June

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US Dollar Strengthens On Fed Chair Powell’s Confirmation of ‘Tapering’ by November

Due to the hawkish remark made by US Federal Reserve Chair Jerome Powell on the Fed’s bond-purchasing program on Friday, the dollar gained strength versus the pound. Another factor contributing to the strengthening of the dollar was a slew of

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Canadian Dollar Strengthens to 3-Month High on 18-1/2 Year High Inflation

Because of the overall weakening of the dollar and the fact that oil prices have stayed around multi-year highs, the Canadian dollar strengthened below 1.24 per US dollar in the second half of October, approaching levels that have not been

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UBS Analyst – Aussie Has Further Upside Left

According to experts, the Australian Dollar has been one of the best performing global currencies over the last week, and the rise is likely to continue. The Australian Dollar has gained ground versus all of its G10 counterparts during the

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Australian Dollar Heading for 0.7620 Against the US Dollar

The Australian Dollar is the best-performing major currency at the dawn of the new week, a trend that corresponds with increased freedoms in Sydney, and which some foreign exchange experts believe will continue to rise. “The Australian dollar is outpacing

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US Inflation Hits 13-Year High, While the Yen Records 3-Year Low

With inflationary pressures remaining strong in September, the dollar index recovered some of its earlier losses on Wednesday to trade at 94.5. This is the highest level since September of 2020, increasing expectations that the Fed would tighten policy sooner

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Turkish Lira Records Fresh All-Time Low of 8.9982

The Turkish lira fell to a historic low of 8.97 per US dollar on worries about the legitimacy of monetary policy and a rising US currency. Following President Tayyip Erdogan’s demands for lower benchmark interest rates in a nation where

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Swedish Krona Plunges 0.77% Against the US Dollar on Weak Economic Data

The USDSEK increased 0.0806 or 0.92% to hit a high of 8.8215 on Wednesday from 8.7409 in the earlier trading session following a series of weak economic data (industrial output, household consumption and industrial orders) from Sweden and upbeat non-farm

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