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

October 3, 2022 8:21 am
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: USD/JPY falls from 24-year peak on report of Bank of Japan rate check

September 14, 2022 8:57 am
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

September 12, 2022 8:38 am
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