FOREX news

The Turkish lira weakened to 27.06 against the dollar, ceding 0.3%, after Turkey’s central bank hiked its key interest rate to 30% on Thursday, a 500-basis point jump from 25%, as Ankara continues to battle double-digit inflation.The central bank dec...

Argentina's inflation surged to 12.4% in August — marking the most drastic monthly surge the nation has seen in over 20 years. This concerning figure was disclosed by the country's official statistics agency this Wednesday.For a nation grappling with...

China's currency, the yuan, is taking a hit against the dollar, recently dropping to a 16-year low of 7.35 yuan to the dollar. This dip led China's central bank to address "too much speculation" affecting the yuan's value.The rapid depreciation of th...

Turkey's central bank has raised its key interest rate by a substantial 650 basis points, up to 15%, the first increase since early 2021.After President Recep Tayyip Erdogan’s re-election, his government is now embarking on a new economic policy dire...

After Prime Minister Liz Truss drove the British pound to record lows last year, market watchers thought the currency would not recover for some time. Now the pound is enjoying a comeback, hitting its highest level against the US dollar in 10 months...

Egypt, the most populous country in the Arab world, has had a brutal year. The Egyptian pound recently softened by more than 13% to a new low of 32 to the US dollar. Since March 2022, the pound has lost half of its value against the greenback as the...

The British pound has been edging up against the US dollar in recent weeks to within striking distance of a six-month high as investors await major central bank policy meetings this week, including that at the Bank of England (BOE).The pound was trad...

Malaysia’s stock market and national currency wobbled after an election resulted in the country’s first ever hung parliament. Parties must now form a coalition before an administrative deadline that expires in a few days, and thereafter must deal wit...

The Japanese government spent a record $43 billion supporting the yen in October. Finance Minister Shunichi Suzuki said the interventions were designed to be stealthy, in an attempt to maximize their effects.The Japanese finance ministry and central...

A powerful US dollar is making currencies around the world weaker and contributing to soaring prices of basic goods and services. The dollar has gained 18% this year, and in September hit a 20-year high, according to the benchmark US Dollar Index tha...

The British pound crashed to a new record low against the US dollar of $1.035 on Monday, freefalling more than 4%. The previous record low for the British pound against the US dollar was 37 years ago, when one pound was worth $1.054.The fall came dur...

The Bank of Japan (BOJ) has been acting as a lone dove this year as other major global central banks aggressively hike rates to contain surging inflation.Continuing on a long-held monetary policy course, the BOJ steered clear of intervening to direct...

The British pound plunged to a 37-year low this past Friday after new data showed consumers haveslowed spending, raising fears that the economy may already be in a recession.The currency fell below $1.14, a level not seen since 1985. Retail sales in...

The embattled euro has fallen below $0.99 – a new two-decade low – after Russia stopped gas supplies to Europe, heightening fears of a deep energy crisis across the continent.The euro has lost 20% of its value in the past three months. Europe is desp...

The Japanese yen has fallen to a 24-year low against the dollar as investors brace for higher US interest rates.One dollar is now worth more than 140 yen for the first time since 1998, as the greenback continues its period of strength against most ma...