It is a good day for the Russian rouble, as it recovered from its lowest point so far this year. However, rouble-denominated treasury bonds levitated near a one-year low as the market prepared for the imminent U.S. sanctions against Russia. As a reminder, Russian assets have under pressure since last week. People should keep in …
Russian Rouble Recovered from its Weakest Level in 2021 Read More »
Central banks all over the world started to pay more attention to cryptocurrencies. However, it is too early to say that many of them are ready to embrace cryptocurrencies. This week, Federal Reserve Chairman Powell said that cryptocurrencies remain an unstable storage of value. Moreover, the Federal Reserve is in no hurry to introduce a …
Jerome Powell and His Position Regarding Cryptocurrencies Read More »
Recep Tayyip Erdogan remains in power for a long period of time. Recently, the country’s currency declined as much as 14% after President Erdogan removed Turkey’s central bank governor. As a reminder, Naci Agbal helped the Turkish lira to strengthen its positions. Nevertheless, Erdogan replaced Agbal in a surprise move on Saturday, the third central …
Turkish Lira fell by 14% after Central bank governor sacked Read More »
The world’s reserve currency held firmer on March 19, as it benefited from higher Treasury yields as well as dropping stock markets, as investors digested the Federal Reserve’s pushback against expectations of any early interest-rate hikes. It is worth mentioning that the dollar index was slightly higher following a 0.5% jump on Thursday. Interestingly, the …
Treasury Yields and Stock Markets Helped to Boost Dollar Read More »
It is a good day for the pound, as it rose to a 13-month high against the euro on March 18, shrugging off COVID-19 vaccine concerns ahead of a Bank of England meeting. Interestingly, the central bank is expected to leave the interest rates unchanged and maintain the Bank of England’s bond-buying program. People should …
Pound Reached its Highest Point Against the Euro Read More »
Traders are behaving excitedly, ahead of the Federal Reserve meeting scheduled later in the day. Spectators will likely see the central bank maintain its usual dovish monetary policy stance. However, an update on bond yield decisions is what will make the difference. Before this week, the market was largely focusing on bond yields more than …
US Dollar Flexes Ahead of the Federal Reserve Meeting Read More »
Hopefully, the U.S. dollar recovered from a near one-week low on Friday thanks to bond yields. However, this is not the end of the story as it looked set for its first weekly fall in three against a basket of its main rivals as riskier currencies gained support from calmer market sentiment. It is worth …
It was not an easy day for the U.S. dollar as it sustained losses against most currencies on March 11, after benign data on the U.S. consumer price index as well as a decline in Treasury yields forced some investors to cut bets on a rapid acceleration in inflation. Unsurprisingly, the euro was in focus …
Taiwan has a small and open economy and it is important to keep the Taiwan dollar at a relatively stable level according to the country’s central bank. It is worth mentioning that, Taiwan’s central bank made an interesting announcement on Wednesday. The country’s central bank announced a large increase in its currency intervention spending in …
Taiwan’s Central Bank, U.S. Treasury, and Risk Factors Read More »
On March 9, the dollar backed away from 3-½ month highs as U.S. Treasury yields stabilized, allowing room for riskier currencies to make gains. Interestingly, the pound, Australian dollar, and New Zealand dollar strengthened their positions. As a reminder, the index that measures the dollar’s strength against a basket of other currencies fell 0.2% in …
Dollar Declined From 3-½ Month Highs Due to Treasury Yields Read More »
Investors are closely monitoring the situation as they would like to gather more information about the situation. Interestingly, the dollar fortified its position against a basket of its peers on Thursday as a more orderly rise in U.S. Treasury yields provided support before a speech by Federal Reserve Chairman Jerome Powell. His speech may determine …
U.S. Dollar, Other currencies, and Fed Chairman Powell Read More »
There are many currencies in the world, but the U.S. dollar is the most recognizable currency. Interestingly, the dollar was up for a fourth consecutive day on March 2, after a recent spike in bond yields challenged the market consensus for dollar weakness in 2021. However, riskier currencies rose as bond markets calmed as well …
Swiss Franc Dropped to the Lowest Point Against U.S. Dollar Read More »
The U.S. dollar is the world’s reserve currency. It makes sense as about 60% of foreign exchange reserves are held in U.S. dollars. Thus, it is likely to remain the main currency at least for the foreseeable future. Moreover, it is easier for the U.S. to run higher trade deficits with a greatly postponed economic …
U.S. Dollar Jumped Against the Commodity Currencies Read More »
Interestingly, it took several attempts for the euro to surpass $1.22. Moreover, the Australian dollar exceeded $0.08000 as the U.S. dollar remains under pressure against the major currencies. The only major currency which is struggling against the greenback is the Japanese yen. Interestingly, rising yields in the U.S. and Europe have depleted many of the …
U.S. Dollar Continues to Decline Against the Canadian Dollar Read More »
The U.S. dollar struggled at multi-year lows against the Australian dollar and other currencies as well as held near a one-month low versus the euro as the reflation trades affected the currency markets on February 24. Interestingly, the British pound surpassed $1.42 overnight for the first time since April 2018. It is worth noting that, …
British Pound Surpassed $1.42 for the First time in Years Read More »
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