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USD/ZAR: Rand falls on US rate prospects ahead of local data

September 26, 2023 10:23 am
The South African Rand retreated sharply against a stronger US Dollar on Tuesday on prospects that US interest rates may remain elevated for longer. The benchmark 10-year US Treasury yield rose as high as 4.56% earlier on Tuesday, a level not seen since October 2007. The US Dollar Index was last inching up 0.05% on […] Read more

USD/INR: Rupee falls as US bond yields hit 16-year highs

September 26, 2023 8:01 am
The USD/INR currency pair firmed on Tuesday, as a surge in US Treasury yields underpinned the US Dollar. The Rupee retreated alongside other Asian currencies, with the South Korean Won leading losses. A combination of resilient macro data, hawkish comments from Federal Reserve officials and a budget deficit to be funded through borrowing pushed the […] Read more

GBP/JPY trades little changed, hovers above 1 1/2-month low

September 25, 2023 8:02 am
Having retreated more than 0.8% last week following policy decisions by the Bank of England and the Bank of Japan, the GBP/JPY currency pair was mostly steady on Monday, but not far from recent 1 1/2-month trough. The Bank of England left its benchmark interest rate without change at 5.25% at its September meeting, with […] Read more

EUR/JPY gains as BoJ maintains easy policy, offers dovish guidance

September 22, 2023 8:38 am
The Japanese Yen retreated against the Euro on Friday, after the Bank of Japan maintained its ultra-accommodative policy and again pledged to keep monetary support until Japan’s inflation sustainably reaches the 2% target. The BoJ left its benchmark short-term interest rate without change at -0.10% at its September policy meeting and also kept a 0% […] Read more

USD/NOK: Krone gains as Norges Bank hikes policy rate to 4.25%

September 21, 2023 9:33 am
The Norwegian Krone firmed to an intraday high against the US Dollar on Thursday, after Norway’s central bank hiked interest rates at its September meeting and said it would likely raise them once again in December. Norges Bank raised its key policy rate by 25 basis points to 4.25% earlier on Thursday, in line with […] Read more

AUD/USD hits 1-week low as Fed reinforces hawkish stance

September 21, 2023 7:31 am
The Australian Dollar retreated to a fresh one-week low against its US counterpart on Thursday, after the Federal Reserve left interest rates intact, but toughened a hawkish monetary policy stance. As a result, the US Dollar scaled a fresh six-month peak against a basket of major peers and US Treasury yields surged to levels unseen […] Read more

GBP/CAD hovers above 5-month low after below-forecast UK CPI

September 20, 2023 7:29 am
The British Pound hovered just above a 5-month trough against the Canadian Dollar on Wednesday, as lower-than-expected CPI inflation in the UK raised some questions about the Bank of England’s rate outlook. Annual consumer inflation in the United Kingdom decelerated to 6.7% in August from 6.8% in July, while confounding market expectations of an increase […] Read more

AUD/JPY stuck in tight range ahead of BoJ decision, RBA minutes shrugged off

September 19, 2023 7:10 am
The AUD/JPY pair remained stuck within a narrow range on Tuesday ahead of the outcome of the Bank of Japan’s policy meeting on Friday, while the minutes of the Reserve Bank of Australia’s September meeting were shrugged off. The Bank of Japan’s September meeting will be closely watched for clues over when its negative interest […] Read more

USD/ZAR gains as focus sets on FOMC, SARB policy meetings

September 18, 2023 9:32 am
The South African Rand traded within a tight range against the US Dollar on Monday ahead of the Federal Reserve’s and the South African Reserve Bank’s (SARB) policy decisions on Wednesday and Thursday respectively. The SARB is largely expected to leave its benchmark interest rate without change at a 14-year high of 8.25% at its […] Read more

GBP/JPY steadies near 1-month low ahead of major cenbank meetings

September 18, 2023 7:51 am
The GBP/JPY currency pair was mostly steady on Monday, not far from last week’s 1-month low, ahead of major central bank meetings, including the Bank of England on Thursday and the Bank of Japan on Friday. The Bank of England is expected to deliver its 15th consecutive interest rate hike, which would bring borrowing costs […] Read more