Currency News

Forex Market: GBP/USD rebounds from nine-month lows ahead of Fed Chair Powell’s testimony, BoE monetary policy decision

GBP/USD rebounded from an over nine-week low on Monday, with market focus now turning to a testimony by Fed Chair Jerome Powell on pandemic emergency lending before the Select Subcommittee on the Coronavirus Crisis on Tuesday and to June’s policy decision from the Bank of England on Thursday. BoE policymakers look set to remain divided […] Read more

AUD/USD stuck in tight range ahead of FOMC meeting, RBA to maintain ultra-easy policy stance, decide on future bond purchases in July

AUD/USD traded in a narrow range on Tuesday ahead of a keenly anticipated Federal Reserve policy meeting and after the Reserve Bank of Australia released the minutes from its June meeting. The RBA minutes showed that policy makers would not raise the official cash rate until actual inflation in Australia was sustainably within the 2% […] Read more

Forex Market: GBP/USD extends losses due to stronger dollar ahead of FOMC meeting outcome, UK re-opening delay shrugged off

GBP/USD extended last Friday’s losses at the start of the new week, mostly due to a firmer US Dollar. The Sterling seemed to have shown little reaction to news that the British government will probably defer the end of coronavirus-related social restrictions. PM Boris Johnson is expected to announce a delay of four weeks to […] Read more

Forex Market: AUD/USD falls as greenback finds support ahead of US CPI report

AUD/USD edged down on Tuesday since uncertainty surrounding the Federal Reserve’s policy outlook seemed to have offset upbeat macro data coming out of Australia. A softer-than-anticipated US Non-Farm Payrolls report somewhat allayed fears of an early monetary policy tightening by the Fed, which helped the Aussie to recoup earlier losses last week. Next, on the […] Read more

Forex Market: GBP/USD slips on doubts over June 21st re-opening plan, Dollar awaits CPI inflation data

GBP/USD was a notch weaker at the start of the new week as doubts emerged that the British government would stick to its plan to entirely lift coronavirus-related restrictions on June 21st. Hopes of a rapid re-opening of the UK economy seemed to have waned in recent weeks due to a surge in cases of […] Read more

Forex Market: AUD/USD rises on greenback weakness, upbeat data, RBA keeps policy settings unchanged

AUD/USD rose on Tuesday despite that the Reserve Bank of Australia kept policy settings without change and reiterated that monetary conditions would remain accommodative until at least 2024. The pair benefited mostly from US Dollar’s weakness, as the greenback was hovering just above 4 1/2-month lows against a basket of six major peers. An additional […] Read more

Forex Market: GBP/USD little changed in calm trade, US and UK markets closed for holidays

GBP/USD traded within a narrow range amid calm trade on Monday due to the Spring Bank Holiday in the United Kingdom and the Memorial Day federal holiday in the United States. The pair looked set to register its fastest monthly rate of increase since November 2020. Last Friday the US Dollar briefly touched a two-week […] Read more

Forex Market: AUD/USD gains as Fed officials allay investors’ inflation concerns

AUD/USD edged higher on Tuesday, mostly due to a weaker US Dollar, as Federal Reserve officials allayed concerns that inflationary pressure would force the central bank to tighten policy. “I think there will come a time when we can talk more about changing the parameters of monetary policy, I don’t think we should do it […] Read more

Forex Market: AUD/USD gains as RBA Minutes highlight rapid recovery, inflation forecast revised up slightly

AUD/USD rose over 0.5% on Tuesday due to a weaker US Dollar and after the RBA Minutes, released earlier in the day, pointed to rapid economic recovery. Investors were also looking for more clues over inflation and possible tightening of monetary policies. Market players’ focus has been set on any new pieces of data that […] Read more

Forex Market: GBP/USD extends Friday gains as UK economy re-opens, dollar benefits from Asia’s virus concern

GBP/USD was a notch stronger at the start of the new week, while trading not far from last week’s 2 1/2-month high of 1.4167, as the British government took another step towards economic re-opening by further easing COVID-19-related restrictive measures. Cafes, bars and restaurants will be allowed to service customers indoors, while an international travel […] Read more