Forex News

The Great Britain pound fell during the past trading week on poor macroeconomic data and concerns that the Bank of England will postpone the planned interest rate hike. The Canadian dollar had the similar issues.

The Swiss franc fell below the historically important level of 1.20 versus the euro as the risk appetite drove investors away from safe currencies. Still, Swiss National Bank Chairman Thomas Jordan saw no reason to abandon the extremely loose monetary policy.

The Japanese yen fell against the US dollar today as nation’s inflation slowed last month. The currency also dropped against other rivals but has trimmed its gains by now, and against the euro it actually moved above the opening level.

The New Zealand dollar attempted to rally today, but failed and followed its Australian counterpart in decline. The currency dropped even as the inflation print came out better than expected.

The Australian dollar dropped following the release of a disappointing employment report. While the currency attempted to bounce afterwards, it failed and continued to move down, erasing the intraday gains.

The British pound today declined against the US dollar following the release of disappointing UK retail sales data in the early European session. However, the pound recovered almost immediately and went on to hit a daily high in the mid-European session, before declining from the early American session.

The euro today rallied against the US dollar during the European session after the release of the final Eurozone CPI data. The euro was on a downtrend against the greenback during the Asian session following the risk-on sentiment in the global markets, which later resumed in the early American session.

The British pound today dropped significantly against the US dollar following the release of disappointing UK Consumer Price Index data in the early European session. The pound’s decline started during yesterday session after the release of weak UK wages report and upbeat US housing report, which made the pound drop from its post-Brexit highs.

The Australian dollar remained rather vulnerable today, falling against its most-traded rivals, though it remained slightly above the opening level versus the soft Japanese yen.

The Japanese yen fell against the US dollar during the current trading session. While the currency had also been down versus other rivals intraday, currently the yen reversed its decline, erasing losses outright against some peers.