Yen Continues to Trade Near Four-Week High as Vaccination Gathers Pace
The Bank of Japan left the near-term benchmark interest rate unaltered at -0.1% and maintained the target for the 10-year Japanese government bond yield at about 0% during the July meeting, as broadly anticipated, supported by a 8-1 vote. In
Read MoreAussie Up on Strong Chinese Trade Data
Following the publication of several better-than-anticipated Chinese statistics, the Aussie was seen eclipsing its rivals, confirming that events in the world’s second-largest economy continue to be an important determinant of currency movements. In June, China’s imports increased by 36.7% year
Read MorePound Galloped Against Loonie In spite of Positive Job Data from Canada
The Pound-to-Canadian Dollar exchange rate rose in the closing session of the week, as the Loonie seemed to ignore stronger-than-anticipated June employment numbers from Statistics Canada, allowing GBP/CAD’s break out from a two-month trading range to go unhindered. The Canadian
Read MoreAussie Strengthens on RBA’s Decision to Taper Bond Purchases
The Australian Dollar remains the top performing major currency so far this week following the Reserve Bank of Australia (RBA) announcement that it will begin tapering its asset purchase initiative in response to the economy’s continued growth. The Australian Dollar
Read MoreUK’s Tilt Away from the EU Could Eventually Put the Pound at Advantage
As per recent research from BMO Capital Markets, the UK’s evolving trade agreement with the EU and the rest of the region might be beneficial to the British Pound. BMO Capital Markets continues to prefer the Pound over the Euro
Read MoreSouth African Rand Holds its Fort Against Major Currencies
In a prolonged display of tenacity, the South African currency has held its territory against several major currencies, having put GBP/ZAR below 19.90 and forcing it on the back foot. In the previous week, the Rand has climbed against all
Read MoreNew Zealand Dollar Strengthens on Robust Economic Rebound
The Kiwi dollar gained ground against its peers before the end of last week’s trading. Specifically, the New Zealand dollar recorded its robust gain against the pound, which did not fare well even against the greenback. Notably, the US dollar
Read MorePound Strengthens on Soothing of EU-UK Trade War Worries
The British Pound gained ground in the mid-week trade, with market experts citing news indicating that strains between the EU and the UK over the Northern Ireland agreement were lessening. According to a Bloomberg article, “British and European officials are
Read MoreJapanese Yen Surprises Market by Outperforming the US Dollar
After completely disregarding a roaring comeback in Dollar exchange rates that occurred against the backdrop of signals of disparity between the Federal Reserve (Fed) and the Bank of Japan, the Japanese Yen was a relative outperformer on Friday and on
Read MorePound Continues to Consolidate Against the Aussie
If Australia’s continuous fight to resuscitate a lengthy insufficient rate continues to make the antipodean currency a slacker among global currencies, the Pound-to-Australian Dollar exchange rate may likely maintain a climb over 1.84 in the coming weeks and months. In
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