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Daily Forex News
The Pound Sterling edged higher versus both the US Dollar and the common currency Euro as investors speculate on the likelihood of an interest rate adjustment from the Bank of England.
The dollar moved up on Wednesday as markets looked towards the meeting of global central bankers in Wyoming and a speech by Fed Chair Janet Yellen on Friday for clues on whether the Federal Reserve is poised to hike interest rates again.
The US Dollar weakened broadly and slid below the 100 Yen level earlier as FX traders refocused on the upcoming events at Jackson Hole, the Federal Reserve Bank’s annual symposium.
Crude oil prices continued to fall in early Asian trade Tuesday, as optimism for a production freeze faded on reports that Iraq is preparing to ramp up exports and Nigeria could follow soon.
The Pound Sterling edged higher against the US Dollar, hitting a 5-week peak, after the latest economic data showed that the UK economy was holding its own after the June Brexit vote.
The dollar continued to gain against the yen and euro on Monday on positive reports from U.S. Federal Reserve policymakers who expressed support for a near-term U.S. interest rate hike.
There will be a much lighter news schedule this week compared to last week, with no real central bank input due at all with the possible exception of the Chair of the Federal Reserve speaking on Friday, and the Governor of the Bank of Japan speaking on Tuesday.
Oil prices surged dramatically in the last two weeks thanks to OPEC freeze talk, but there's little expectation the cartel will act, especially now that crude is trading 24 percent higher just on hot air.
The Pound Sterling edged higher after the last economic news seemed to quell fears of the impending Brexit.
The U.S. dollar hit a seven-week low against a basket of major currencies on Thursday, following the release of the minutes from the Federal Reserve's July meeting which indicated that there were more policy committee members opposed to a near-term rate hike than those who were in favor of one.
There appears to be some growing speculation that the Federal Reserve might still be considering a rate increase this year which has investors anxiously awaiting today’s release of the last Fed policy meeting.
The U.S. dollar retreated from 7-week lows against the yen and the euro during Wednesday’s Asian session in response to the New York Federal’s Reserve’s hawkish comments on Tuesday.
The US Dollar dipped broadly on Tuesday after comments made by one Federal Reserve Bank official triggered the greenback’s sell-off
Record breaking highs on Wall Street failed to boost sentiment in Asian trade on Tuesday, with most major regional markets slipping.
Wall Street closed higher again on Monday with the three major indexes hitting new records and investors keeping an eye on oil prices and news from the Federal Reserve.