Currency News

Forex Market: NZD/USD hits 1 1/2-week high after RBNZ delivers 50 basis point rate hike

NZD/USD briefly touched a fresh 1 1/2-week high on Wednesday, after the Reserve Bank of New Zealand lifted its official cash rate by 50 basis points to 3.5%, a level unseen since April 2015, at its October meeting. This has been the fifth consecutive 50 basis point hike. RBNZ policy makers considered core CPI inflation […] Read more

Forex Market: AUD/USD pares earlier losses, RBA delivers smaller-than-expected rate hike

The Aussie Dollar pared earlier losses against its US counterpart on Tuesday, which it recorded after the Reserve Bank of Australia surprised market players with a smaller-than-anticipated interest rate hike. The RBA raised its cash rate by 25 basis points to 2.60% at its October policy meeting earlier on Tuesday, while confounding market expectations of […] Read more

Forex Market: EUR/USD off one-week high as ECB rate hike expectations heighten recession concerns, CPI inflation at record levels

EUR/USD came off recent one-week highs on Monday, as expectations for another sizable interest rate hike by the European Central Bank later in October reinforced concerns the Eurozone economy could enter a recessionary period. Last week, the annual CPI inflation in the Euro Area was reported to have accelerated to 10.0% in September from 9.1% […] Read more

Forex Market: EUR/USD near fresh 20-year trough on energy woes, recession fears bolster greenback

EUR/USD was trading near its weakest level since June 2002 on Wednesday, as rising interest rates globally reinforced recession concerns, propelling the safe haven US Dollar to a new 20-year peak against peers. The yield on benchmark US 10-year Treasuries exceeded 4% for the first time since 2010, while 2-year yield was at 4.28%. “It’s […] Read more

Forex Market: AUD/USD rebounds from 28-month low, but pressure from stronger greenback remains

Having touched a fresh 28-month trough on Monday, AUD/USD saw a certain rebound on Tuesday, as oversold investor positions were pared and volatility eased a bit. But since the US Dollar remained firm on expectations US interest rates will probably stay higher for a longer period, risk-sensitive currencies such as the Aussie were still experiencing […] Read more

Forex Market: AUD/USD lingers near 27 1/2-month lows ahead of FOMC decision, RBA rate hikes could slow

AUD/USD was trading in proximity to last Friday’s 27 1/2-month low of 0.6670 on Tuesday, as the US Dollar remained strong on expectations of another aggressive interest rate hike by the Federal Reserve this week in an attempt to curb red-hot inflation. The greenback also received support from higher bond yields. The yield on US […] Read more

Forex Market: Euro trades below parity with US Dollar as market players await Fed’s policy decision

The Euro was trading mostly below parity with the US Dollar at the start of the new week, with the common currency pressured by poor economic outlook as energy woes persist. Meanwhile, the greenback stood just below September 7th more than two-decade peak of 110.79 against peers ahead of the highly anticipated FOMC policy decision. […] Read more

Forex Market: USD/JPY falls from 24-year peak on report of Bank of Japan rate check

USD/JPY distanced from a 24-year peak on Wednesday, after the Nikkei website, citing unidentified sources, reported the Bank of Japan had conducted a rate check, while obviously preparing for currency intervention. A BoJ rate check, where central bank officials call up dealers and ask for the price of buying or selling Yen, is considered as […] Read more

Forex Market: EUR/USD scales over three-week peak on hawkish ECB indications

EUR/USD climbed to highs not seen in more than three weeks on Monday, as European Central Bank officials added to prospects of further aggressive policy tightening. ECB policy makers said that they would need to raise the benchmark interest rate to 2% or even higher in order to curb record inflation in the Euro Area. […] Read more

Reserve Bank of Australia hikes rates once again, leaves door open for further tightening

The Reserve Bank of Australia (RBA) raised its cash rate by 50 basis points to 2.35% at its policy meeting earlier today, in line with expectations, while delivering 225 basis points of rate hikes in the past five months. The central bank indicated interest rates were now closer to neutral, but also flagged more policy […] Read more