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Turkish Lira Tests Fresh Record Low of 7.9 As Central Bank Leaves Rates Unchanged

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?

Euro Falls to 2-Month Lows As Investors Remain Risk Averse

The euro today fell to 2-month lows against the US dollar driven by negative investor sentiment as coronavirus cases in Europe and across the world continue to rise. The greenback’s rally also fueled the EUR/USD currency pair’s decline as investors piled into the world’s only reserve currency despite the looming US elections.

The Great Britain Pound Drops Despite Positive News Headlines

The Great Britain pound was extremely weak today, falling against all other major currencies, even the Australian and New Zealand dollars, which were recovering after the losses they have posted earlier this week. Analysts say, though, that the gains of the Australian and New Zealand currencies were just a result of a short-covering rally, which is not likely to last long. As for the sterling, it performed poorly this week, […]

Japanese Yen Weakens on Disappointing Retail Sales, Construction Orders

The Japanese yen is weakening against multiple currency rivals to start the trading week, driven primarily by disappointing macroeconomic data. Despite higher-than-normal inflows into the traditional safe-haven asset, the yen slumped on worse-than-expected retail sales, construction orders, and housing starts. But could the world’s third-largest economy get a boost from one billionaire hedge fund manager’s recent play?

South Korean Won Choppy As Investors Fear Potential COVID-19 Lockdown

The South Korean won is trading choppy in the middle of the trading week as investors begin to weigh the possibility of another lockdown related to the coronavirus pandemic. Despite South Korea flattening the curve in March, the nation has been experiencing an uptick in infections for most of August. The country is already in a recession, so another wave of restrictions could exacerbate the downturn.

Euro Rallies Against US Dollar on German GDP and IFO, Later Falls

The euro today rallied higher against the US dollar boosted by positive investor sentiment as the US and China reported progress in the latest round of trade talks. The EUR/USD currency pair later gave up its gains after the release of mixed US data amid a lack of volatility in the Forex market ending up slightly higher.

USD/CHF Tests 0.91 As SNB Posts Huge Q2 Profits

The Swiss franc continues to strengthen against many of its major currency rivals. At the end of the trading week, the franc is looking to touch levels against the US dollar unseen in seven years, despite the Swiss National Bank (SNB)‘s myriad of foreign exchange interventions. How much more can the franc appreciate this year?

Euro Falls Then Rallies Based on US Dollar Dynamics and Sentiment

The euro today fell against the US dollar earlier in the session before rallying higher later with its movements primarily driven by the greenback’s price dynamics. The EUR/USD currency pair’s was further encouraged by the positive investor sentiment around the €750 billion EU recovery fund, which was agreed on by European leaders at their summit.

Euro Falls on Weak Sentiment Amid Rising US Coronavirus Cases

The euro today fell against the US dollar driven by investor fears about the rising coronavirus cases across the US triggering a selloff of riskier assets such as the euro. The EUR/USD currency pair’s decline was further fueled by rising trade tensions between the EU and the US after Donald Trump threatened to impose sanctions on European exports.

Euro Rallies on Upbeat Sentiment and COVID-19 Vaccine Hopes

The euro today rallied higher against the US dollar breaking out of the sideways trading range it was stuck in yesterday driven by the prevailing risk-on market sentiment. The EUR/USD currency pair rallied higher driven by the prevalent optimism among investors regarding the reopening of European countries and a CVOID-19 vaccine.

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