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British Pound Rises As BoE Leaves Interest Rates, QE Unchanged

The British pound is rising against many of its currency rivals on Thursday after the central bank left interest rates and its aggressive asset-buying program unchanged. But while the decision to hold things steady was widely expected, many analysts are combing through the Bank of England (BoE) head’s remarks that subzero interest rates are in the institution’s “toolbox.”

USD/CNY Trends in 6.9 Range Amid Strong PMI Readings

The Chinese yuan is weakening slightly against the US dollar to kick off the trading week, despite strong economic data. The yuan had been finding support on a better-than-expected rebound, as well as confidence in the broader financial markets. Whatever happens, it appears that the yuan on track for further appreciation in the second half of 2020, which is what some analysts had forecast.

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 on Weak Euro Area Macro Prints, Retail Sales, GDP and CPI

The euro today fell against the US dollar as investors took profits following its blistering rally and the weak euro area GDP data did not help the single currency. The EUR/USD currency pair fell from the early European market as investors took profits on their positions to end a very profitable month for traders who were bullish on the euro.

Canadian Dollar Mixed Amid Higher-Than-Expected Inflation, Strong Retail Sales

The Canadian dollar is trading mixed against its most traded currency rivals midweek. The loonie has been gaining on the greenback on Wednesday as higher-than-expected inflation and strong retail sales data were in the backdrop of the Canadian dollar’s ascent. But falling energy prices capped the currency’s modest rally.

Euro Holds Steady As EU Leaders Engage in ‘Mission Impossible’ Talks

The euro is trading at its best level against the US dollar since March as European Union (EU) leaders confirm they have made progress on stimulus and debt talks. The currency had been mainly unaffected by the central bank leaving interest rates and its quantitative easing efforts unchanged, but the fiscal policy could drive the euro for the remainder of the month.

Euro Little Changed As ECB Leaves Interest Rates, QE Program Unchanged

The euro is little changed against many of its G10 currency rivals on Thursday after the central bank adopted a wait-and-see approach to monetary policy, leaving its key interest rates and quantitative easing (QE) program unchanged. The European Central Bank (ECB) confirmed it would monitor the strength of the eurozone economy before choosing to add to its suite of stimulus and relief measures.

US Dollar Flat As Inflation, Business Optimism Jump in June

The US dollar is trading flat against multiple G10 currency rivals on Tuesday, as the government reported that inflation accelerated last month. The greenback has been struggling as of late due to greater confidence in the broader financial market. But with the four-month rally seemingly fading, can the buck take advantage and regain its momentum? It all depends on the coronavirus pandemic.

USD/CNY Climbs Back Above 7 As Trump Reveals US-China Trade Deal Not a Priority

The Chinese yuan is holding steady at the end of the trading week, despite President Donald Trump revealing that the second phase of a US-China trade agreement is no longer a top priority. The president told reporters aboard the Air Force One that the relationship between the world’s two largest economies is “severely damaged” after the coronavirus pandemic. The yuan climbed back above the key 7 threshold after his comments, but […]

Turkish Lira Weakens to Two-Month Low As Investors Fear Another Currency Crisis

The Turkish lira is slumping to its lowest level against the US dollar in two months as investors fear that it is poised for another currency crisis. The lira has been steadily rebounding since falling to an all-time low against the greenback, but analysts warn that the fundamentals, from inflation to foreign exchange reserves, do not support its gains. Is another crash going to happen soon?

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