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Swiss Franc Mixed As SNB Boosts Liquidity Measures, Fitch Maintains ‘AAA’ Rating

The Swiss franc is trading mixed to kick off the trading week as Switzerland’s economy attempts to be resuscitated in the aftermath of the COVID-19 pandemic. The Swiss franc is struggling for consistent direction against a myriad of currency rivals, with the central bank launching additional liquidity measures and Fitch maintaining its AAA rating of the Swiss economy.

Pound Falls on Weak UK Services PMI Report as Dollar Surges

The Sterling pound today fell against the US dollar as investors reacted to weak service PMI released by Markit Economics in the early London session. The GBP/USD came under intense selling pressure as the greenback pressed higher despite yesterday’s record high US initial jobless claims numbers.

Japanese Yen Mixed After Fitch Maintains Credit Rating

The Japanese yen was mixed today after Fitch Rating maintained Japan’s sovereign credit rating. The forecasts made by the agency were not all good, though.

Chinese Yuan Stable During Friday’s Calm Trading

The Chinese yuan was flat versus the US dollar during the Friday’s calm trading session as traders were waiting for economic releases from the United States.

Turkish Lira Drops amid Credit Rating Worries

The Turkish lira dropped today ahead of the credit rating decision by Fitch Ratings that may lead to Turkey losing its investment grade.

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.

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.

South African Rand Slows Rally

The South African rand slowed its rally after yesterday’s big jump. Despite the welcomed change of the financial minister, investors remained unconvinced about the government’s ability to tackled economic challenges that lay before it.

South African Rand Gains After Finance Minister Appointment

The South African rand rallied today after President Jacob Zuma appointed Pravin Gordhan as a new finance minister. He is the third South African finance minister in less than a week.

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.

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