FOREX news

Japan's Stealthy Yen Moves Designed for Maximum Impact

Japan's Stealthy Yen Moves Designed for Maximum Impact

FOREX news
1 year ago

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
1 year ago

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
1 year ago

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
1 year ago

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...

British Pound Hits 37-year Low as UK Economy Stutters

British Pound Hits 37-year Low as UK Economy Stutters

FOREX news
1 year ago

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...

Euro Slides to 20-Year Low after Russia Throttles Gas Supplies

Euro Slides to 20-Year Low after Russia Throttles Gas Supplies

FOREX news
1 year ago

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...

Yen Falls to 24-year Low Against US Dollar

Yen Falls to 24-year Low Against US Dollar

FOREX news
1 year ago

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...

US Job Growth Climbs, Calming Recession Fears

US Job Growth Climbs, Calming Recession Fears

FOREX news
1 year ago

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  infl...

Argentina’s New Economic Minister Faces Daunting Task

Argentina’s New Economic Minister Faces Daunting Task

FOREX news
1 year ago

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 t...

Euro Fragile as Fed Hike Looms

Euro Fragile as Fed Hike Looms

FOREX news
1 year ago

The euro was still jittery in this week’s trading after its steepest plunge in two weeks, as a disruption in Russian gas supplies sent energy prices soaring. The euro fell about 1% to $1.0108 overnight, its biggest fall since early July. Eur...

Indian Rupee Falls to Record Lows

Indian Rupee Falls to Record Lows

FOREX news
1 year ago

The Indian rupee has fallen more than 7% in 2022, adding to inflationary pressure and destroying margins for importers in this otherwise import-dependent country.  The rupee stands on the threshold of 80 to a US dollar and may soon fall furth...

Australia’s Central Bank Says Interest Rates Too Low

Australia’s Central Bank Says Interest Rates Too Low

FOREX news
1 year ago

The Reserve Bank of Australia (RBA) has said that interest rates will need to be raised much higher to calm red-hot inflation, despite recent rate hikes. The central bank sees the prevailing benchmark rate of 1.35% as being “well below&rdquo...

Chile’s Peso Slumps as Central Bank Dallies

Chile’s Peso Slumps as Central Bank Dallies

FOREX news
1 year ago

The Chilean peso suffered heavy losses last week, slumping to a record low as the country’s central bank delivered an underwhelming interest rate hike that disappointed the markets. The peso plummeted by almost 5% to an unprecedented 1,060.4...

Canada Announces Ultra-Aggressive 1 Percent Rate Hike

Canada Announces Ultra-Aggressive 1 Percent Rate Hike

FOREX news
1 year ago

Bank of Canada Governor Tiff Macklem has announced a supersizing interest rate hike of a full percentage point. The move left Canadians shocked, especially given the country’s hot housing market and heavy debt loads. The Bank of Canada has a...

US Dollar Rallies, But It’s Not All Good News

US Dollar Rallies, But It’s Not All Good News

FOREX news
2 years ago

The US dollar is gaining strength at a rapid rate, achieving its strongest level against other major currencies in almost 20 years. The US dollar Index has jumped 4% in the past month and nearly 13% year-to-date, while other important currencies h...

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