Aussie Rallies on Optimism Over RCEP Deal
The Aussie rallied against the greenback to hit a high of 0.7330 against the backdrop of bullish stock markets and upbeat statement about the economy by Philip Lowe, the Reserve Bank of Australia’s Governor. The antipodean currency also received upward
Read MoreGoldman Sachs Forecasts Canadian Dollar to Strengthen Against Greenback in 2021, but Fall Against the Pound
The Canadian dollar had been underperforming this year, but global banking behemoth Goldman Sachs and BMO Capital Markets have suggested buying the currency on the presumption that loonie will outperform its peers in the near to medium-term. The currency has
Read MoreNew Zealand Dollar Hits 20-Month High
The NZD/USD currency pair rallied to 20-month high of 0.6886 following the Reserve Bank of New Zealand’s decision to maintain official cash rate (OCR) at a historical low of 0.25%. In New Zealand, the official interest rate is called as
Read MoreEuro Hits 7-Week High, But Analysts Believe the Trend Will Not Last Long
The eurodollar gained against the greenback Friday to close at 1.1885, reflecting the strongest level since September 15, as investors turned towards riskier assets while waiting for the final outcome of the US election. Notably, Democrat Joe Biden has already
Read MoreChinese Yuan hits 27-month High as Biden Inches Towards Victory in the US Presidential Election
The Chinese yuan gained 0.0211 or 0.32% to trade at $6.6470 against the greenback Thursday, reflecting 27-month high, following news reports that Joe Biden is inching towards becoming the 46th President of the US. The strengthening of the yen is
Read MorePound Dips Below 1.30 as Brexit Talks Face Roadblock
The British pound dropped below 1.30 against the greenback, against the backdrop of worries about a sharp rise in Covid-19 cases throughout the Europe and an absence of advancement on a Brexit agreement. The UK reported roughly 23,000 coronavirus infections
Read MoreArgentine Peso Hits Record Low Level of 78.12 Against Greenback
The Argentine peso continued its downhill movement, with the currency hitting 78.12 level against the greenback, reflecting the lowest level on record against the backdrop of worries over a prolonged economic recession, increasing concerns over unabated rise of covid-19 cases
Read MorePound Rallies on Post-Brexit Trade Deal Hopes
The pound rallied against its peers, including the greenback, the Canadian dollar and the euro, on reports that the UK and the EU are preparing to resume halted post-Brexit trade discussions, making markets to hope with greater optimism that an
Read MorePound Turns Weak as Moody’s Slashes UK’s Credit Rating
The pound sterling fell 1% last week to $1.292, against the backdrop of Brexit uncertainty, stringent lockdown initiatives, likelihood of negative interest rates and rating downgrade by Moody’s. The UK Prime Minister Boris Johnson has asked the country’s enterprises to
Read MoreRussian Ruble Weakens on Surge in Covid-19 Cases, Weak Trade Surplus Data
The Russian ruble fell 0.5% to $77.60 yesterday following reports of a surge in Covid-19 cases for the second day in a row in Russia. Notably, the ruble fell in spite of a record high placement of Russia’s government bonds
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