Mon, August 15, 2022

Forex

Currency Concerns After Ukraine War, Pushed Yields Higher

Currency Concerns After Ukraine War, Pushed Yields Higher

Following a hawkish speech by US Federal Reserve Chair Jerome Powell and the worsening crisis in Ukraine, most Asian currencies continued to weaken on Tuesday; the South Korean won, and Thai baht led the declines. In a speech on Monday, Powell said that taming inflation requires acting “quickly” and maybe “aggressively”; this boosted the currency …

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Russian Equities Rise, The Rouble Eases After Five-Week High

The Rouble Rises in Moscow and Falls Overseas

On Thursday, investors followed Russia–Ukraine peace negotiations and news of foreign currency coupon payments on Russia’s sovereign debt. The Russian rouble climbed in Moscow trade and was slightly lower abroad. As the invasion reached its fourth week, Russia resumed bombardment of Kyiv, Ukraine’s capital. Russia’s offensive has paused, according to Western sources and Ukrainian authorities. …

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Australia Rebounds, Rising Currency, Falling Unemployment

Australia Rebounds, Rising Currency, Falling Unemployment

The comeback in Australia’s and New Zealand’s currencies and a strong employment market support a rate rise by the Reserve Bank of Australia. On Thursday, the Australian and New Zealand currencies recovered as positive domestic data drove bond yields higher, driving the Aussie to low-yielding yen highs not seen since early 2018. In another of …

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The Yuan Up After Saudi Arabia Accepted Currency For Oil

The Yuan Up After Saudi Arabia Accepted Currency For Oil

Following a report that Saudi Arabia is in active discussions with Beijing to price part of its oil supplies to China in the currency, the Chinese yuan reversed previous losses and soared to the day’s highs. The offshore dollar-yuan pair declined 0.1 percent to approximately 6.3871 after reaching a high of 6.4108 earlier in the …

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Ukrainian Downplays the Hryvnia Depreciating

Despite Russia’s invasion of Ukraine, which began on February 24, the president’s economic adviser downplayed the chances of the hryvnia depreciating further on Saturday. Ukraine’s budget was completely financed, according to Oleg Ustenko; the country’s $27.5 billion in foreign exchange reserves will receive a refill. Ukraine has received emergency funding from the IMF and other …

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The Ruble on New Lows as Further Sanctions Are Imposed

In onshore trade on Wednesday, Russia’s ruble plummeted to new lows, despite Moscow’s efforts to prop up its devastated economy and ensure hard currency availability in the wake of new economic sanctions sparked by its invasion of Ukraine. The ruble soared to 120.83 to the dollar on the Moscow Exchange following two days of market …

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Currencies Severely Impacted By The Russia-Ukraine Conflict

Currencies Severely Impacted By The Russia-Ukraine Conflict

Currency markets have not avoided the recent sharp losses and dramatic swings witnessed across other asset classes, and strategists are rethinking their strategies in light of Russia’s invasion of Ukraine. In the early phases of the Covid-19 epidemic, the Deutsche Bank Currency Volatility Index soared to near 10% in Europe on Tuesday morning, its highest …

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