Currency News

Forex Market: AUD/USD rebounds from two-week lows as risk sentiment improves, Yellen’s testimony on stimulus eyed

Having touched a two-week low on Monday, AUD/USD firmed on Tuesday, as investor risk sentiment improved on renewed optimism that China will continue to drive growth in the Asia Pacific area. The latest macro data showed that Chinese economic growth had accelerated during the fourth quarter, while the nation’s economy had been among the few […] Read more

Forex Market: GBP/USD touches lows unseen since January 12th as the new trading week begins in a risk-off mood

GBP/USD fell to a one-week low on Monday, as the greenback held on to recent gains. Still, prospects for the Sterling remain rather positive, analysts noted, while the latest CFTC futures data revealed the largest net long position on GBP since last March. With a no-deal Brexit scenario now avoided thanks to a last-minute EU-UK […] Read more

Forex Market: AUD/USD rebounds as greenback pauses four-day advance, triggered by higher bond yields

Following a steep drop a day earlier, AUD/USD traded higher on Tuesday, as the greenback paused a four-day advance, triggered by rising US bond yields. Expected to take office on January 20th, President-elect Joe Biden has promised “trillions” in additional coronavirus relief spending, which pressured government bonds and drove bond yields higher. The yield on […] Read more

Forex Market: GBP/USD falls to a two-week low as rising bond yields, stimulus prospects lift US Dollar

GBP/USD extended the loss from last week and touched a fresh two-week low on Monday, as the US Dollar gained across the board with rising US bond yields and due to prospects of more fiscal stimulus. The yield on 10-year US government bonds has risen by over 20 basis points to 1.1187% so far in […] Read more

Forex Market: AUD/USD rebounds as PBOC lifts yuan fixing by the biggest margin since 2005, fueling risk sentiment

AUD/USD rebounded on Tuesday after the People’s Bank of China (PBOC) lifted the official yuan exchange rate by the biggest margin since 2005, while prompting broad US Dollar selloff. The official yuan midpoint was set at 6.4760 per dollar, or 1% firmer compared to the previous fixing. “If the Chinese currency is going up, it’s […] Read more

Forex Market: GBP/USD hits a fresh 32-month high on broad dollar weakness, global risk sentiment remains strong

GBP/USD extended gains from last week and touched highs not seen since May 2018 on Monday, mostly due to dollar weakness as global risk sentiment remained buoyant. The US Dollar Index registered its first annual drop since 2017 in 2020 and was last down 0.56% on the day to 89.43. The Pound has also gained […] Read more

Forex Market: AUD/USD hits a fresh 134-week high as vaccine rollout, US stimulus fuel investor risk appetite

AUD/USD extended gains from the previous trading day on Wednesday, while reaching highs not seen since June 2018, as the US Dollar continued to retreat and riskier assets were bolstered by vaccine-driven global growth prospects and US fiscal stimulus optimism. “The start of COVID-19 immunization campaigns in several countries as well as additional U.S. fiscal […] Read more

Forex Market: GBP/USD gains as Brexit trade deal, US stimulus package support risk sentiment

GBP/USD, along with other risk-sensitive assets, rose on Tuesday in the wake of EU-UK post-Brexit trade agreement and supported by optimism regarding US COVID-19 relief package. Last Thursday Britain secured a narrow trade deal with the European Union, just several days before it parts ways with one of the largest trading blocs worldwide. Investor risk […] Read more

Forex Market: AUD/USD retreats despite upbeat Australian retail sales as new COVID-19 strain pressures sentiment

AUD/USD continued to retreat on Tuesday, disregarding an upbeat domestic retail sales report, as a new, more infectious strain of COVID-19 kept pressuring demand for risk-sensitive assets because of global recovery-related concerns. Yesterday the Aussie fell to a 1 1/2-week low of 0.7462 against its US counterpart, before recouping a portion of that loss later […] Read more

Forex Market: GBP/USD plunges over 2% as Britain tightens COVID-19 restrictions, Brexit trade talks continue

GBP/USD plummeted over 2% in early European trade on Monday, while extending losses from last Friday, after the UK government tightened restrictive measures in London and nearby areas in an attempt to curb the spread of a more infectious strain of the coronavirus. This led countries such as France, Germany, Belgium, Italy, the Netherlands, Canada […] Read more