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 decision ...

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 persistent ...

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 ...

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 direction. ...

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 ...

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 ...

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 ...

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 with the ...

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 bank officials could ...

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 ...

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 ...

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 ...

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 ...

US companies added more than double the number of jobs forecast for July, revealing strong labor demand that tempered recession fears and suggested the Federal Reserve will continue to use steep interest rate hikes to combat out-of-control  inflation.Non-farm payrolls leapt ...

Argentina’s new Economy Minister Sergio Massa has pledged to stop printing money that helps fuel runaway inflation. With the country facing a deepening economic crisis, Massa became the third economic minister in a month.  He inherits the enormous challenge of ...