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Japanese Yen Rallies Ahead of FOMC Meeting, Gives Up Gains Later

The Japanese yen rallied intraday during Wednesday’s trading session but has lost gains against the majority of its most-traded peers. The currency did not fall against all of them, though, most notably keeping gains versus the US dollar ahead of the monetary policy announcement from the Federal Open Market Committee later today.

Sterling Weakest After UK Construction PMI Sinks to Record Low

The Great Britain pound was the weakest currency on the Forex market during Wednesday’s trading. Initially, the euro was the second weakest but currently, the Canadian dollar replaced it, falling versus the shared European currency and trading about flat against the sterling. The drop of the UK construction index to the record low was among possible reasons for the slump of Britain’s currency.

Euro Trades Sideways on Mixed Macro Prints and ECB Rate Decision

The euro today alternated between gains and losses against the US dollar amid a raft of releases from across the euro area that kept the pair trading in a wide range. The EUR/USD currency pair reacted differently to the mixed European announcements such as Germany’s retail sales data among others as it struggled to find direction.

Euro Hits Daily Highs on Fed Rate Decision and Mixed Eurozone Data

The euro today rallied to new daily highs against the US dollar following the FOMC rate decision, which was in line with analysts consensus estimates. The EUR/USD currency pair today alternated between gains and losses driven by mixed fundamental releases from across the eurozone.

Australian Dollar Trades Lower After RBA Minutes, Drop of Crude Oil Below $0

The Australian dollar fell against almost all of the most-traded currencies today with the exception of the New Zealand dollar. The main reasons for the decline were the negative market sentiment and the dovish outlook for the monetary policy of Australia’s central bank.

Loonie Sinks As Crude Oil Trades at 18-Year Lows Despite Supply Cuts

The Canadian dollar today extended its losing streak against the US dollar for the second day in a row despite yesterday’s hawkish rate decision by the Bank of Canada. The USD/CAD currency pair surged higher as the loonie remained under pressure due to falling crude oil prices despite recent output cust by OPEC+ and some US producers.

Pound Rallies on Upbeat Sentiment and Hawkish BoE Rate Decision

The Sterling pound today rallied higher against the US dollar driven by the dominant risk-off market sentiment, which triggered a sell-off in the greenback. The GBP/USD currency pair today rallied higher as investors reacted to the Bank of England‘s latest monetary policy decisions.

Euro Gains on German Factory Orders, US Dollar’s Woes

The euro fell against safer currencies, like the Swiss franc and the Japanese yen, but gained on other most-traded rivals, including the US dollar, the Great Britain pound, and commodity currencies. Surprisingly, that did not include the New Zealand dollar, which turned out to be one of the strongest currencies during Friday’s trading session.

Sterling Pound Spikes to 3-Day Highs on Hawkish BoE Rate Decision

The sterling pound today spiked to its daily highs following the announcement of the Bank of England‘s interest rate decision, which was as expected. The GBP/USD currency pair rallied from its daily lows as investors interpreted the BoE’s decision as being hawkish.

Euro Falls on ECB Rate Decision and Dovish ECB Strategic Review

The euro today crashed to new monthly lows against the US dollar after the European Central Bank announced its rate decision and strategic review. The EUR/USD currency pair today fell to lows last seen on 2nd December 2019 amid a risk-averse market environment that saw most European equity indices close the day lower.

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