The euro today traded at 13-month lows as it was driven lower by market volatility in emerging markets led by Turkey resulting in a strong US dollar. The EUR/USD currency pair traded lower due to the selloff in emerging market currencies, which increased the demand for the greenback at the expense of its …
The British pound today hit new record lows against the US dollar in the Asian session due to the risk-off sentiment in the markets, which favored the greenback. The GBP/USD currency pair retraced some of its losses after the release of the latest UK CPI data, which was in line …
In general, safer currencies found little demand today as markets were recovering from the shock caused by the Turkish financial crisis. But the US dollar avoided losses for the most part, rising to the highest level in more than a year against the basket of major currencies. The Dollar Index …
The Japanese yen was soft today as markets calmed after fears of the Turkish financial crisis eased. With that said, the currency trimmed losses against some of its rivals and erased them against the euro completely. The yen was the strongest currency during the height of risk …
The Canadian dollar strengthened on Tuesday thanks to positive real estate market numbers and higher energy prices. The loonie also bounced back against its US counterpart on the threat of an economic collapse in Turkey that could seep into other emerging markets. Crude oil prices …
The euro today struggled to rally higher despite the release of upbeat data from across the Eurozone such as the German GDP report. The EUR/USD currency pair was largely weighed down by the ongoing currency crisis in Turkey, which has negatively affected the global financial markets. The EUR/USD …
The British pound today rallied briefly following the release of the UK labour market report for August, where the unemployment rate hit a new record low. The GBP/USD currency pair was weighed down by the higher than expected claimant count rate, which saw it drop …
The market sentiment improved today after fears about the crisis in Turkey eased, alleviating pressure on riskier currencies. Yet the Australian dollar was mixed as domestic macroeconomic data was also mixed, while economic releases in China, Australia’s biggest trading partner, were universally …
The Great Britain pound behaved similarly to the euro today, opening sharply lower but recovering a bit later. And similarly to the euro, the currency was waiting for macroeconomic releases over the rest of the week as the Monday’s economic calendar was empty. Besides the Turkish crisis, which was affecting …
The Chinese yuan is weakening on Monday, hurt by the Turkish lira crisis and a rallying stock market. Investors have also combed through recent remarks by the Peopleâs Bank of China (PBOC) about refusing to use the currency as a tool in its trade dispute with the US. Despite the domestic …