The following Forex news reports are the latest developments of the Forex market. The news reports are updated frequently and include all the events that affect the foreign exchange trading industry.
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The US Dollar Index remains fixed and close to a 1-week trough despite unexpectedly upbeat economic data which failed to give US Treasury instruments a yield boost.
The US Dollar finally broke course and ended an 11-day win streak today, retreating versus the Japanese Yen and the common currency Euro.
U.S. markets closed broadly higher on Wednesday, with the S&P 500 marking its seventh consecutive winning session, encouraging global stock markets to cash in on the rally.
The US Dollar edged higher yet again, now on track for an 11th consecutive day of gains, even as investors focus on the upcoming release of inflation data to better gauge the Federal Reserve’s likely next move.
Despite the fact that Federal Reserve Chair Janet Yellen expressed uncertainty about U.S. President Donald Trump’s economic policy, she announced on Tuesday that “waiting too long to remove accommodation would be unwise,” which clearly signaled the Fed’s increased likelihood of raising interest rates in March.
The Pound Sterling edged away from the Euro, retreating from the highest price in a month, as FX traders were awaiting the latest economic data from the UK, specifically January’s inflation.
Federal Reserve announced on Monday that Daniel Tarullo, the central bank’s top financial regulator, has tendered his resignation and will be stepping down on April 5, 2017.
The Pound Sterling edged higher against the US Dollar and extended its gains versus the Euro for the 6th consecutive day.
The dollar hit a two-week high during Monday’s Asian session after the weekend meeting between U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe which paved the way for an open and perhaps friendly relationship between the nations.
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There will be a similarly light news schedule this week, compared to last week which was quite light.
The US Dollar was higher versus the Japanese Yen in early Asian trading but is struggling against other major crosses.
Among the currencies from developed economies, the Kiwi Dollar took the largest fall in Thursday European trading after the Reserve Bank of New Zealand said last yesterday that a tighter monetary policy was likely not going to occur for at least two years.
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The Pound Sterling steadied versus the US Dollar after a relatively volatile day.
Asian stock prices retreated during Wednesday’s Asian session as investor confidence was further shaken by U.S. President Trump’s potential trade policies.