FOREX news

Asian Currencies Set to Gain as Fed Signals Rate Cuts

Asian Currencies Set to Gain as Fed Signals Rate Cuts

FOREX news
19.02.2024

The U.S. Federal Reserve's anticipated rate cuts later this year could be a positive development for several Asian currencies. Higher interest rates generally lead to a stronger currency. Still, the Fed's shift toward a more dovish stance could lead...

The US Dollar is Gaining Strength

The US Dollar is Gaining Strength

FOREX news
09.02.2024

The dollar is making a comeback after a tumultuous 2023, defying earlier expectations of an imminent decline due to potential interest rate cuts. The US Dollar Index, a measure of the currency's strength against a basket of foreign currencies, h...

The British Pound Suffers Worst Month for a Year

The British Pound Suffers Worst Month for a Year

FOREX news
03.10.2023

The British pound suffered its worst month against the U.S. dollar for a year in September, with analysts painting a gloomy future picture, as growth expectations weaken once again.The Sterling fell 3.75% against the dollar through the month, a decli...

Turkish Lira Falls against Dollar after Steep Interest Rate Hike

Turkish Lira Falls against Dollar after Steep Interest Rate Hike

FOREX news
21.09.2023

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 Monthly Inflation Highest in Two Decades

Argentina Monthly Inflation Highest in Two Decades

FOREX news
14.09.2023

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 Yuan is Collapsing Against the Dollar

China's Yuan is Collapsing Against the Dollar

FOREX news
12.09.2023

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 Makes Policy About Turn as Lira Plunges

Turkey Makes Policy About Turn as Lira Plunges

FOREX news
26.06.2023

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...

British Pound Quietly Beats Every Other Major Currency

British Pound Quietly Beats Every Other Major Currency

FOREX news
06.04.2023

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...

Egyptian Pound Sheds Half Its Value Since March

Egyptian Pound Sheds Half Its Value Since March

FOREX news
12.01.2023

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...

Sterling Touches Recent Highs Against Dollar

Sterling Touches Recent Highs Against Dollar

FOREX news
15.12.2022

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...

Malaysian Currency Falls After Deadlocked Election

Malaysian Currency Falls After Deadlocked Election

FOREX news
22.11.2022

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...

Japan's Stealthy Yen Moves Designed for Maximum Impact

Japan's Stealthy Yen Moves Designed for Maximum Impact

FOREX news
03.11.2022

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...

Strong Dollar Spreads Global Pain

Strong Dollar Spreads Global Pain

FOREX news
20.10.2022

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 Plunges to Record Low Against Dollar

The British Pound Plunges to Record Low Against Dollar

FOREX news
26.09.2022

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...

Japan Is Scrambling to Help the Struggling Yen

Japan Is Scrambling to Help the Struggling Yen

FOREX news
23.09.2022

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...

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