Currency News

Forex Market: USD/JPY holds steady ahead of FOMC policy decision

USD/JPY remained mostly steady on Tuesday, as market players were wary ahead of the Federal Reserve’s policy meeting outcome on Wednesday, which could provide hints if interest rates were nearing a peak. Trading was subdued on Tuesday, as two more central banks, Bank of England and the European Central Bank, are expected to announce their […] Read more

Forex Market: EUR/USD trades near highs unseen since April 2022 as markets weigh Fed, ECB policy outlook

EUR/USD traded in proximity to a fresh nine-month peak on Tuesday, as market players were weighing the chances of US economy entering a recession against the Federal Reserve’s monetary policy outlook. Markets are now pricing two more 25 basis point rate hikes by the Federal Reserve this year and rates peaking at around 5% by […] Read more

Forex Market: USD/JPY just above a seven-month low ahead of Bank of Japan policy decision

USD/JPY traded in proximity to a seven-month trough on Tuesday, as market players awaited the outcome of the Bank of Japan’s two-day policy meeting to be concluded tomorrow. Speculation has emerged that the central bank could introduce a shift to or even end its yield curve control policy, as 10-year Japanese bond yields have been […] Read more

Forex Market: EUR/USD trades near 7-month peak as markets bet on smaller Fed rate hikes, Powell speech in focus

EUR/USD traded in proximity to a seven-month peak on Tuesday, as market players bet the Federal Reserve may be approaching the end of its interest rate hike cycle, while risk sentiment was additionally underpinned by China reopening its borders. The US Dollar Index was inching down 0.04% on the day to 103.135, after sliding to […] Read more

Forex Market: USD/JPY trades near seven-month low, Yen supported by BOJ policy shift expectations

USD/JPY registered a fresh seven-month low on Tuesday, as the Japanese currency was underpinned by expectations that the Bank of Japan could exit its ultra-accommodative monetary policy. Last month, the BoJ introduced a shift in its policy, while allowing Japan’s 10-year government bond yields to move 50 basis points in either direction from the bank’s […] Read more

Forex Market: USD/JPY hits a four-month trough as BoJ surprisingly tweaks yield curve control range

USD/JPY registered a fresh four-month low on Tuesday, after Bank of Japan unexpectedly tweaked its yield curve control range, as it sought to ease some of the cost of prolonged ultra-accommodative monetary policy. The 10-year government bond yields will now be allowed to move 50 basis points in either direction from BoJ’s 0% target, compared […] Read more

Forex Market: EUR/USD mostly steady ahead of US CPI report, FOMC and ECB policy decisions

EUR/USD held mostly steady on Tuesday ahead of the release of US CPI inflation data, due out at 13:30 GMT, as well as the final Federal Reserve policy decision for the year. Annual core CPI inflation is expected to decelerate to 6.1% in November, while the headline CPI inflation is expected to slow down to […] Read more

Forex Market: AUD/USD rebounds as RBA raises cash rate to 10-year high, flags further tightening

AUD/USD recouped part of yesterday’s losses on Tuesday, after the Reserve Bank of Australia lifted its cash rate to a decade-high and stuck with guidance of further policy tightening, while quashing any view it was nearing a hike pause. The RBA raised its cash rate by 25 basis points to 3.1% at its December policy […] Read more

Forex Market: AUD/USD retreats for a second day as China’s COVID protests bolster safe haven demand

AUD/USD, a liquid proxy for risk, retreated over 0.7% on Monday, as market sentiment was roiled by protests in China against the government’s zero-COVID policy, which underpinned the safe-haven US Dollar. Following an apartment fire that led to the death of 10 people in Urumqi, the capital of China’s Xinjiang Uyghur Autonomous Region, hundreds of […] Read more

Forex Market: EUR/USD hovers above one-week low on China COVID case surge, global growth concerns

EUR/USD hovered just above a fresh one-week low on Monday, as market sentiment was dampened by a surge in new COVID-19 infections in China and tighter restrictions in some cities there, while bolstering safe haven demand. Two deaths were reported in the capital city of Beijing on November 20th, while residents of the city’s most […] Read more