Tag Archives: Dollar

GBPUSD forming potential double bottom after the rate cut decision from the BoE. Explore market impacts and short-term trading opportunities in the British pound.

The Australian dollar appreciates to near one-week high after RBA maintains cash rate at 4.35% and warns inflation remains high. US Fed rate cuts also influence the Aussie.

The dollar held its ground on Wednesday, while the yen retreated from a seven-month peak. Currency markets stabilised after a turbulent start to the week driven by recession fears and the unwinding of carry trades. 

EURUSD surged 1.3% as weak US nonfarm payrolls data fueled expectations of a significant Fed rate cut. Read more to understand the market opportunities and risks.

The Indian rupee is poised to weaken on Tuesday, with forecasts indicating it could reach an all-time low against the U.S. dollar. The non-deliverable forwards (NDF) market suggests that the rupee (USDINR) will open at 83.97-83.99 to the dollar, slipping past Monday’s close and lifetime low of 83.8450.

The rupee (USDINR) stood at 83.70 against the U.S. dollar as of 11:00 a.m. IST, up from its previous close of 83.72. On Wednesday, the currency had hit a record low of 83.7450. Asian currencies rose between 0.1% and 0.8%, while the dollar index (DXY) was at 104 after declining 0.4% on Wednesday.

An eventful Wednesday saw the Bank of Japan (BOJ) raise interest rates to levels not seen in 15 years. This prompted traders to reassess popular carry trades before the Federal Reserve held rates steady but hinted at potential rate cuts as U.S. inflation cools.

Key points: Japan’s Nikkei share average rose on Wednesday, buoyed by banking stocks after the Bank of Japan (BOJ) raised interest rates for the second time since 2007. The Nikkei index was up 0.25% at 38,620.85 as of 0421 GMT, reversing earlier losses. The broader Topix index also turned positive, trading 0.37% higher. See: Nikkei225Continue Reading

The Australian dollar fell to a three-month low on Wednesday following a softer reading on core inflation. This change in data dampened expectations for further rate hikes and caused a surge in bond futures.

Emerging Asian currencies and stocks experienced gains on Wednesday as traders awaited the US Federal Reserve’s policy decision. The South Korean won and the Thai baht led the way among currencies, rising by 0.6% and 0.5%, respectively.