The Turkish lira rose slightly this week as traders waited for the upcoming CBRT interest rate decision, as the crisis in the Middle East continued. The USD/TRY exchange rate retreated to 44 from the year-to-date high of 44.10. Turkish Central Bank interest rate decision The Central Bank of the Republic of Turkey (CBRT) will be
The USD/JPY exchange rate pulled back slightly, moving from this week’s high of 158.85 to 157 as geopolitical tensions fell and after Japan published strong macro data. So, what next for the pair ahead of the upcoming US inflation report? Japan published strong GDP data The USD/JPY exchange rate pulled back as the US dollar
For a brief stretch earlier this year, the euro traded comfortably above $1.20. Investors were talking up Europe’s defence spending plans, big-ticket infrastructure projects and a more confident post-pandemic recovery. That optimism evaporated almost overnight. The war in the Middle East revived one of the euro’s oldest vulnerabilities: energy dependence. Crude oil surged toward $100
The Chinese yuan crashed this week, erasing some of the gains made in the past few weeks. The USD/CNY exchange rate rose to 6.9240, up sharply from the year-to-date low of 6.8322. So, what next for the renminbi? Chinese yuan retreats after PBOC intervention The USD/CNY exchange rate rebounded this week as the US Dollar
The Indian rupee crashed to its lowest level on record as the ongoing war in the Middle East sent shockwaves in Asia and other continents. The USD/INR exchange rate rose to 92.50 as it crossed the previous all-time high at 92.42. It has jumped by over 10% from its lowest level in April last year.
Currency markets rarely send clear signals during geopolitical crises, but the latest dollar surge arrived at a moment when investors were already uneasy about inflation, interest rates and rising government debt. Then the Middle East conflict added another layer of uncertainty. For a few days, the dollar strengthened sharply, oil jumped, and markets rushed into
The USD/ZAR rebounded this week, reaching its highest level since December last year as the South African rand retreated amid the ongoing war in Iran. It was trading at 16.60 on Friday, up 6.45% from its lowest level this year. South African rand plunges amid war risks The South African rand and other emerging market
The South African rand remains in a bull market as the country’s economic recovery gains steam. The USD/ZAR pair dropped to 15.92 on Monday, down sharply from last year’s high of 19.93, and technicals point to more downside in the near term. South African rand rallies as the economic growth gains steam The South African
The Australian dollar pulled back slightly on Tuesday after the Reserve Bank of Australia (RBA) released minutes of its last monetary policy meeting and as traders waited for key macro data from the country. The AUD/USD pair was trading at 0.7060 on Tuesday, down a bit from the year-to-date high of 0.7145. Australia jobs report
The Japanese yen wavered on Wednesday as investors reacted to the ongoing bearish bets on the US dollar, soaring Japanese exports, and wait for the upcoming Japanese consumer inflation report. The USD/JPY exchange rate was trading at 153.55 on Wednesday, down by nearly 4% from its highest level this year. Japan exports jump, inflation report