Currency News

Forex Market: AUD/USD hits a fresh three-year high amid a surge in commodity prices

AUD/USD traded in proximity to fresh three-year highs on Tuesday, underpinned by the recent surge in commodity prices. Higher prices for a range of materials, including oil, copper, lumber and milk powder, have provided support to commodity currencies such as the Aussie and the kiwi dollars. Yesterday the price of copper surged above $9,000 per […] Read more

Forex Market: GBP/USD hits a fresh 34-month high as vaccine roll-out success fuels investor risk sentiment

GBP/USD hit a fresh 34-month high in early European trade on Monday, as the Sterling firmed further due to UK’s relative success in COVID-19 vaccination roll-out, which is expected to pull the economy out of the pandemic-induced recession. Ebbing concerns that the Bank of England could bring interest rates below zero has been another factor […] Read more

Forex Market: AUD/USD hits a fresh one-month high, tracking a surge in oil prices, recovery optimism also supports

AUD/USD extended gains from the previous three trading days on Tuesday, while touching a fresh one-month high, as it benefited from a surge in oil prices and optimism over a global economic recovery. The Aussie dollar, along with other commodity currencies, tracked higher oil prices after a cold front triggered a shutdown of wells and […] Read more

Forex Market: GBP/USD hits a fresh 34-month high on UK vaccine roll-out success, Dollar pressured by recovery pace doubts

GBP/USD rose to a fresh 34-month high on Monday, as market players doubted whether US recovery from the pandemic-induced shock would be as fast as anticipated, which pressured the US Dollar. The Sterling has also drawn support from the success of the UK government’s vaccination program. Reports emerged that the government had achieved its objective […] Read more

Forex Market: AUD/USD hits a fresh two-week high on improved risk sentiment, optimistic Australian business confidence data

AUD/USD, a liquid proxy for risk, extended gains from the previous two trading days on Tuesday, while touching a fresh two-week high, supported by improved market sentiment and upbeat Australian macro data. National Australia Bank’s gauge of business confidence, reported earlier Tuesday, climbed to a reading of 10 in January from a revised up value […] Read more

Forex Market: GBP/USD eases from over 2 1/2-year highs, GBP outlook bullish, USD waits for fresh clues over economy

GBP/USD eased from recent more than 2 1/2-year highs, but remained supported just above the 1.3700 mark on Monday, with some analysts being rather bullish on its outlook. Earlier in February the Sterling climbed to highs unseen since May 2018 against the US Dollar, supported by improved risk sentiment, optimism over UK’s coronavirus vaccine roll-out […] Read more

Forex Market: AUD/USD eases, 10-year Australian bond yields drop as RBA extends bond-purchasing program

AUD/USD eased on Tuesday, but remained supported just above the 0.7600 mark, after the Reserve Bank of Australia surprised markets by extending its bond-purchasing program and also stressed on its commitment to keep interest rates on hold until at least 2024. The RBA left its benchmark cash rate intact at a record low level of […] Read more

Forex Market: GBP/USD trades near its strongest level since May 2018 on improving risk sentiment, UK vaccine optimism

GBP/USD edged higher on Monday, while trading not far from last Wednesday’s 2 1/2-year high of 1.3759, as risk sentiment improved on hopes that retail investors who recently launched an assault on hedge fund positions had shifted their focus to other assets such as Silver. Global risk sentiment improved with a rally in Asian shares […] Read more

Forex Market: AUD/USD falls to one-week lows as US stimulus doubts trim risk bets, FOMC meeting eyed

AUD/USD slipped to a one-week low on Tuesday, as doubts regarding the speed and size of US stimulus package prompted market players to avoid risk ahead of the Federal Reserve’s two-day policy meeting. The US Dollar Index advanced overnight to 90.65, or its highest level since January 20th, and was last up 0.06% on the […] Read more

Forex Market: GBP/USD mostly stable as investors weigh US stimulus hopes, Britain’s vaccine rollout push

Having eased from a more than 2 1/2-year high from last week, GBP/USD remained mostly stable on Monday, as market players were weighing hopes of a $1.9 trillion fiscal stimulus plan in the United States as well as coronavirus vaccine rollout push in Britain. Reports emerged over the weekend that 5.9 million people in Britain […] Read more