Currency News

Forex Market: AUD/USD scales fresh two-month high, investors assess latest RBA Minutes release

AUD/USD scaled a fresh two-month peak on Tuesday following the release of the latest Reserve Bank of Australia’s policy meeting minutes. It showed that RBA policy makers remained open to either pause the cycle of tightening, or to go back to larger rate hikes, depending on incoming macro data. RBA Deputy Governor Michelle Bullock has […] Read more

Forex Market: Euro rebounds from two-week lows, approaches parity with US Dollar

The Euro extends a rebound from a two-week low against the US Dollar on Monday, while moving closer to parity, as investors expect the European Central Bank will continue its policy tightening cycle to curb persistently high inflation. ECB President Lagarde said last week interest rates should keep rising, despite the higher probability of the […] Read more

Forex Market: USD/JPY rebounds from three-week lows ahead of FOMC meeting, Yen still pressured after BoJ decision

USD/JPY extended a rebound from recent three-week lows on Monday, as the US Dollar firmed on cooling investor bets that the Federal Reserve could indicate a slowdown in its aggressive monetary policy tightening cycle. “Markets have been kind of expecting a Fed pivot on monetary policy. I think that is too premature, given how resilient […] Read more

Forex Market: EUR/USD trades near six-week high ahead of ECB rate decision, dollar weakens on hopes of less aggressive Fed hikes

EUR/USD was trading near a fresh six-week high on Thursday ahead of the ECB policy meeting later in the day, while the US Dollar weakened amid rising hopes the Federal Reserve will implement less aggressive policy tightening to temper recession risks. “Fundamentally, there are factors that are still favouring the U.S. dollar: rate differentials, the […] Read more

Forex Market: USD/JPY recovers ground above 149 mark after another suspected BoJ intervention

The Japanese Yen received only a brief support against the US Dollar on Monday as a result of a suspected Bank of Japan intervention in the market. The USD/JPY pair reached an intraday high at 149.70 during the early phase of the Asian trading session, after which it plunged to 145.28 in a matter of […] Read more

Forex Market: AUD/USD rebounds further from 30-month low after RBA Deputy Governor Bullock’s hawkish remarks

AUD/USD extended a rebound from last week’s 30-month trough on Tuesday, after Reserve Bank of Australia’s Deputy Governor Michele Bullock said the central bank would raise interest rates further during the upcoming months and it could keep up with the tightening cycle of its peers across the globe with more frequent, smaller rate increases. Meanwhile, […] Read more

Forex Market: USD/JPY trades near 32-year peak, depreciating Yen reinforces intervention concerns

Having reached a 32-year peak of 148.86 last Friday on firm US Dollar and surging US Treasury yields, the USD/JPY pair was trading just below that level at the start of the new week. The Japanese currency remains at risk of depreciating further to the psychological level of 150, which market players believe may prompt […] Read more

Forex Market: EUR/USD at a fresh one-week low ahead of US CPI data, job growth supports outlook for higher rates

EUR/USD retreated for a fourth straight day on Monday, as rising energy prices and geopolitical tension continued weighing on the single currency, while robust US job growth and high CPI inflation forecast added to the case for higher interest rates, underpinning the greenback. Friday’s data string revealed solid growth in US Non-Farm Payrolls and an […] Read more

Forex Market: NZD/USD hits 1 1/2-week high after RBNZ delivers 50 basis point rate hike

NZD/USD briefly touched a fresh 1 1/2-week high on Wednesday, after the Reserve Bank of New Zealand lifted its official cash rate by 50 basis points to 3.5%, a level unseen since April 2015, at its October meeting. This has been the fifth consecutive 50 basis point hike. RBNZ policy makers considered core CPI inflation […] Read more

Forex Market: AUD/USD pares earlier losses, RBA delivers smaller-than-expected rate hike

The Aussie Dollar pared earlier losses against its US counterpart on Tuesday, which it recorded after the Reserve Bank of Australia surprised market players with a smaller-than-anticipated interest rate hike. The RBA raised its cash rate by 25 basis points to 2.60% at its October policy meeting earlier on Tuesday, while confounding market expectations of […] Read more