Monetary Policy — News Archive

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Euro Rallies Ahead of ECB Rate Decision, Drops on Dovish Draghi Speech

The euro today rallied before the European Central Bank rate announcement, but dropped lower after the dovish comments made by the ECB President following the announcement. The pair headed lower in the American session despite the release of disappointing American macro data.

Pound Rallies to New Weekly Highs on Brexit Rumors and BoE Rate Decision

The British pound today rallied to new highs against the US dollar following Brexit rumors that the British PM Theresa May had signed a deal with the EU on the financial services sector. The pound was further boosted by the Bank of England‘s monetary policy decision, which helped it rally against the greenback despite mixed US macro releases.

Loonie Rallies After Bank of Canada Rate Hike

The Canadian dollar today rallied to new highs against most of its peers including the US dollar after the Bank of Canada announced its interest rate decision in the early American session. The loonie’s rally was further boosted by the hawkish tone in the bank’s monetary policy statement, which investors interpreted as hinting at more rate hikes in future.

Australian Dollar Flat After RBA Minutes, China’s Inflation Data

The Australian dollar was basically flat against most of its major peers following the release of policy minutes by the Reserve Bank of Australia and inflation data in China, Australia’s biggest trading partner.

Euro Rallies on Huge Drop in Global Equity Markets, Later Declines

The euro today rallied higher against the US dollar from the early European session largely due to the massive pullback in global equity markets, which favored the single currency. The EUR/USD currency pair’s rally was further boosted by President Donald Trump‘s criticism of the Fed’s monetary policy position, which also contributed to the greenback’s weakness.

Yen Weak After BoJ Minutes, Positive Data Doesn’t Help

The Japanese yen was generally weak today following the release of monetary policy minutes. Positive macroeconomic data did not help the currency.

Swiss Franc Strongest on Forex Market During Friday’s Trading

The Swiss franc was extremely strong today, beating all of its most-traded rivals. That is surprising, considering that Switzerland’s economic calendar is empty today, and the currency had no factors to facilitate such good performance. Yesterday, the nation’s central bank made its policy announcement.

Japanese Yen Remains Soft After BoJ, Trade Balance

The Japanese yen remained broadly weaker against its most-traded rivals. While domestic releases were unfavorable to the currency, the major reason for the yen’s weakness was the market sentiment that favored riskier currencies, not safer ones.

No Demand for Safe Haven, Yen Retreats Ahead of BoJ Meeting

The Japanese yen was weak today ahead of tomorrow’s policy meeting as markets largely ignored escalating trade tensions between the United States and China, lowering demand for the currency as a safe haven.

Aussie Bounces After Initial Decline Caused by RBA Minutes & Economic Data

The Australian dollar dipped initially today following the release of central bank’s monetary policy minutes and poor macroeconomic data. Yet the currency has bounced by now after markets had calmed, largely ignoring US tariffs on Chinese goods.

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