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Japanese Yen Mixed amid Signs of Economic Slowdown

The Japanese yen was mixed today despite the relatively negative sentiment amid investors. Usually, the yen rallied amid risk aversion due to its status as a safe haven. But today, the currency was struggling to rise. Some analysts explained that by the rally of the stock market. Domestic economic indicators were not favorable to the currency of Japan either.

Euro Rallies Against Dollar, Later Falls on Dovish Sentiment

The euro today extended its losing trend against the much stronger US dollar driven by the release of mostly negative euro area PMI prints by Markit Economics. The EUR/USD currency pair today fell driven by the massive demand for the greenback amid fears that the rising coronavirus cases would derail the global economy.

Australian Dollar Weak on Interest Rate Cut Outlook

The Australian dollar was one of the weakest currencies on the Forex market during Wednesday’s trading. The Aussie fell even against its New Zealand counterpart, which itself was extremely soft, though by now the AUD/USD pair has almost erased its losses. Market analysts thought that the main reason for the currency’s weakness was the outlook for an interest rate cut in the near future.

Chinese Yuan Tests 6.7 As PBoC Leaves LPR Unchanged, Injects More Liquidity

The Chinese yuan is continuing to make gains against the US dollar on Tuesday ahead of the manufacturing and non-manufacturing purchasing managers’ index (PMI) readings. The yuan, which had cratered to as low as 7.17 against the greenback, has been one of the top-performing Asian currencies this year, advancing nearly 3% year-to-date. Could the yuan defy market expectations even more?

Japanese Yen Extends Winning Streak As BoJ Maintains Ultra-Loose Support

The Japanese yen is extending its winning streak against many of its most traded currency counterparts on Thursday. The yen found support in the central bank leaving interest rates in subzero territory and keeping its bond-buying program. In addition to the ultra-loose efforts of the Bank of Japan (BoJ), the institution plans to coordinate with new Prime Minister Yoshihide Suga on a wide range of policies.

NZ Dollar Strong Despite Drop of Manufacturing Index

The New Zealand dollar was among the strongest currencies on the Forex market today, together with its Australian counterpart. The kiwi managed to rally despite the report that showed a drop in New Zealand’s manufacturing index.

US Dollar Index Tops 93.00 As Bullish Data Supports Greenback

The US dollar is continuing its winning streak on foreign exchange markets during the Labor Day holiday. The greenback has been staging a rebound over the last several trading sessions after cratering 11% since hitting a peak of 103.00 earlier this year at the height of the coronavirus pandemic. The buck has been rallying on a multitude of factors, including bullish economic data and COVID-19 concerns, but analysts are still maintaining a bearish […]

Great Britain Pound Firm Despite Falling Construction Index, Outlook for Monetary Easing

The Great Britain pound rose today despite the gloomy outlook and an unexpected drop in the construction index. While the sterling has lost its gains versus commodity currencies by now, it continued to trade above the opening level against other most-traded peers.

Australian Dollar Weak After Trade Balance Shrinks

The Australian dollar was weak today, falling against almost all other most-traded currencies. Some market analysts blamed the decline on the disappointing trade data released in Australia during the trading session, while others thought that it might be just a corrective sell-off after the incredibly good performance last month.

Turkish Lira Weakens As Investors Weigh Monetary Policy, Poor Economic Data

The Turkish lira is continuing its downward trend against the US dollar midweek as investors start to weigh the central bank’s policies. The lira faced additional pressure on weakening economic data, including the second-quarter gross domestic product and manufacturing numbers.

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