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Polish Zloty Edges Lower Ahead of S&P Credit Rating Review

The Polish zloty edged lower today ahead of a credit rating review by Standard & Poor’s that may result in lower credit grade for the Eastern European country.

Rand Climbs as South Africa’s Credit Ratings Preserved

The South African rand rallied more than 1% at the start of the current trading week after rating agencies maintained South Africa’s credit grade at the end of the last week.

S&P Cuts Australia’s Credit Rating Outlook

The Australian dollar plunged today after Standard & Poor’s had cut the country’s credit rating outlook. The Aussie has bounced later and is now trading close to its opening level.

Pound Hits New Lows amid Post-Referendum Turmoil

While the Brexit vote had an impact on all currencies, the Great Britain pound (unsurprisingly) has borne the brunt of Britain’s decision to part with the European Union. The currency touched a new 31-year minimum versus the US dollar and also dropped to new lows versus many other currencies.

South Africa Keeps Investment Grade, USD/ZAR Dips

The South African rand climbed more than 3% against the US dollar today as Standard & Poor’s kept the nation’s credit rating at an investment grade. The terrible employment data from the United States also helped the rand to gain on the greenback.

Hungarian Forint Higher vs. Euro After Central Bank Announcement

The Hungarian forint gained on the euro and was stable against the US dollar today as Hungary’s central bank signaled about an end to its monetary easing cycle.

Brazilian Real Unfazed by Moody’s Credit Rate Downgrade

The rally of the European stocks allowed the currency markets to stabilize, leading to a bounce of riskier currencies. The Brazilian real joined the rally against the US dollar even though Brazil’s credit rating was reduced by Moody’s to junk.

Brazilian Real Underperforms as Fitch Cuts Credit Rating

The Brazilian real was underperforming compared to other Latin American currencies on Thursday as Fitch ratings reduced Brazil’s sovereign credit grade. The currency still managed to erase its losses but was unable to demonstrate the same strength as its peers.

Brazilian Real Drops amid Political Uncertainty

The Brazilian real dropped against the US dollar today as political uncertainty and turmoil in the country were not helping to make the currency attractive to overseas investors.

Hungarian Forint Gains vs. Euro, Falls vs. Dollar

The Hungarian forint rallied against the euro on speculations that Standard & Poor’s is going to upgrade the outlook for the nation’s credit rating (though it has basically lost its gains as of now). The currency also attempted to rally versus the US dollar but failed.

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