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Turkish Lira Strengthens As Central Bank Raises Interest Rates Again

The Turkish lira recorded a massive gain against the US dollar on Christmas Eve, driven by the central bank tightening monetary policy and raising interest rates again in its final policy meeting of 2020. Over the last two months, the lira has significantly rebounded after falling to fresh all-time lows. And, according to the early forecasts, the lira could strengthen even more heading into 2021.

Chinese Yuan Strengthens After Bullish Goldman Sachs Forecast, Trade Data

The Chinese yuan is strengthening against multiple currency counterparts midweek following a bullish forecast by a Wall Street titan. Trade data also came in better than expected on Wednesday, leaving analysts to surmise that the economic rebound is running full steam ahead. The real test, however, will be later this week when several crucial numbers come out, including the gross domestic product.

Australian Dollar Strongest, Rising for Fourth Session

The Australian dollar was the strongest currency on the Forex market today, rallying for the fourth consecutive day thanks to the improving investors’ sentiment. The currency managed to rally even though domestic macroeconomic data failed to meet expectations for the most part.

US Dollar Dips on Wall Street Bears, Economic Data

The US dollar is declining to kick off the trading week as Wall Street bears and disappointing economic data sent the currency lower. Despite the greenback enduring its biggest decline in two weeks, the dollar is still performing quite well as the year comes to an end.

Chinese Yuan Weakens Despite Increased State Support

The Chinese yuan is weakening against its US counterpart midweek, despite increased state support that should give the currency a boost. The federal government has announced a series of measures aimed at spurring economic growth as the world’s second-largest economy weathers the global trade storm, something that analysts contend will exacerbate next year.

Chinese Yuan Appreciates As Investors Bullish on Currency, Economy

The Chinese yuan is strengthening against its US counterpart midweek, buoyed by reports that investors appear to be bullish on the currency, the national economy, and the domestic bond market. The yuan also gained momentum on a recent analysis by a Wall Street giant that the currency could gain a greater global reserve market share.

Chinese Yuan Depreciates As Economy Weakens, Manipulation Concerns Linger

The Chinese yuan weakened against the US dollar and a basket of currencies on Tuesday. Despite some modest gains in July, the currency is still hovering around a 13-month low, leaving many traders and world leaders wondering if Beijing is manipulating the yuan.

IMF Says Chinese Yuan ‘Fairly Valued’ As Currency Slips Further

The Chinese yuan continued its slide on Friday as the currency fell beyond its 13-month low. Despite the US government hinting that the central bank is purposely debasing the yuan, the International Monetary Fund (IMF) said it is “fairly valued.”

Loonie Rallies Against Major Currencies as Oil Rises

Canadian dollar is heading higher today, gaining ground against its major counterparts as oil prices continue to recover to some degree. There are expectations for more loonie weakness in the future, but for now the currency is ahead.

Dollar Continues to Experience Weakness

The US dollar continued to experience weakness today as comments of US policy makers were less hawkish than dollar bulls have hoped for, suggesting that the long-awaited monetary tightening may be postponed, and this reduced the appeal of the US currency.

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