Live Forex news from all over the world.
The South Korean won is recording modest gains against multiple currency rivals on Tuesday as the nation’s economy returned to growth in the third quarter. After enduring the sharpest economic downturn in more than a decade, Seoul was able to resuscitate the economy through a series of COVID-19 stimulus measures and surging exports.
The Great Britain pound versus the United States dollar currency pair has to make a decision: above or beneath 1.3000?
The euro today fell against the US dollar as investors sold the single currency amid rising coronavirus cases within the euro area dampening investor sentiment. The EUR/USD currency pair’s decline was further fueled by the stalemate in the US stimulus talks ahead of next week’s Presidential election as equity markets sold off.
The Chinese yuan is retreating from its highest level against the US dollar in 27 months, despite officials revealing they will tolerate the currency’s appreciation against the greenback – for now. The acceptance of the yuan’s enormous climb has signaled that policymakers are prepared to potentially alter the currency’s strategy in the global economy, fueling its aspirations to make the yuan a global reserve currency that rivals the buck and other counterparts.
The Japanese yen was mixed today, rising against some peers and falling against others. Generally, though, the yen did not move far as trading was rather quiet on Monday.
The Australian versus the United States dollar currency pair is making lower highs, but the bulls may be just around the corner.
EUR/USD ended the week with solid gains. The US dollar was the weakest major currency on the Forex market during the week. The euro, on the other hand, was one of the strongest, ending trading either flat or higher against its most-traded rivals.
The Turkish lira tested a fresh record low of 7.9 to close out the trading week, one day after the central bank surprised analysts and left interest rates unchanged. The lira has repeatedly been cratering to new all-time lows throughout 2020, driven by declining foreign exchange reserves and geopolitical tensions. Could the lira break 8.0 against the US dollar in the coming weeks?
The Japanese yen was trading either flat or lower against most other currencies, though it managed to gain on the US dollar. Japanese macroeconomic data released on Friday was mixed.
The United States dollar versus the Japanese yen currency pair, at this moment, may very well be treasured by both bulls and bears. However, only one party is to be right.
