Forex News

The Canadian dollar fell against most of its major peers on Wednesday, with the exception of the US dollar. That was surprising, considering that fundamentals did not look particularly bad for the currency.

The New Zealand dollar was falling for the most part of the Wednesday’s session, rebounding for a short time after the US Federal Reserve turned out to be surprisingly dovish. Yet the kiwi jumped sharply by the end of the session after the release of New Zealand’s gross domestic product.

The US dollar is holding steady midweek as the Federal Reserve concluded its two-day policy meeting. The US central bank did not pull off any surprises on Wednesday, signaling that it has become far more bearish than in previous meetings, whether it relates to policy maneuvers or economic estimates.

The British pound today fell to new 1-week lows against the US dollar after the UK Prime Minister confirmed that she had requested for a short Brexit extension from the EU. The GBP/USD currency pair had traded sideways before heading lower amid mostly neutral investor sentiment and a positive reaction to the latest UK inflation report.

The Japanese yen fell slightly today following the release of minutes of the monetary policy meeting by the Bank of Japan.

The Australian dollar behaved similarly to its New Zealand counterpart today, falling intraday but rebounding later. Domestic macroeconomic data was not good, but that did not prevent the Aussie from bouncing.

The New Zealand dollar fell today, being one of the weakest currencies on the Forex market together with its Australian counterpart. The currency has trimmed its losses by now, though. Latest macroeconomic data released in New Zealand was decent, giving no additional reasons for the kiwi to go down.

The US dollar was extremely weak today, waiting for the monetary policy decision of the Federal Reserve. Economic data released on Tuesday in the United States missed market expectations, giving no help to the US currency.

The Australian dollar was among the weakest currencies during the Tuesday’s session, falling together with house prices. The monetary policy minutes from the central bank did not reveal anything that could help the currency.

The New Zealand dollar traded about flat against most of its major peers by the end of the Tuesday’s trading session. The worsening consumer sentiment did not hurt the currency much.