Key Takeaways:
- 💵 The South Korean won weakened after an unexpected interest rate cut.
- 📉 The yen is up 2.4% this week and could see a rate hike in Japan next month.
- 💶 The euro rose following hawkish remarks from an ECB board member.
- 🦃 U.S. Thanksgiving holiday led to lighter trade activity.
- 🇲🇽 The Mexican peso rose after announcements from Trump and Mexico’s president on migration.
- 🇷🇺 The Russian rouble strengthened as the central bank paused forex purchases until year-end.
- 🇧🇷 Brazil’s real plummeted to a new low amid concerns over tax cuts.
- 🇦🇺 Australian dollar drifted lower ahead of a speech from the RBA governor on inflation.
- 💱 Dollar steadied on Thursday with help from South Korea’s surprise interest rate cut
- 📉 Yen is on track for its strongest week in three months, with markets foreseeing a Bank of Japan rate hike
- 🇰🇷 South Korea’s won weakened after the central bank cut rates unexpectedly
- 📈 Euro clung to its sharpest rise in four months following hawkish remarks from ECB
- 🇺🇸 U.S. Thanksgiving holiday lightened broad trade, but emerging markets saw activity
- 🇲🇽 Mexican peso rose after Trump’s comments on Mexico’s president and migration
- 🇷🇺 Russian rouble strengthened as central bank halted forex purchases to support the currency
- 🇧🇷 Brazil’s real collapsed to its lowest spot close and ten-year yields spiked on tax cut concerns
- 🇬🇧 Sterling climbed on weaker dollar, New Zealand dollar remained firm after rate cut in Wellington
- 🇦🇺 Australian dollar drifted lower ahead of RBA governor’s speech on inflation data sensitivity
- 💵 Dollar remained steady during holiday
- 📉 Won slipped unexpectedly
- 📈 Other currency movements varied in response to market conditions
- 💣 Ukraine’s energy infrastructure under attack by Russia
- 🚀 Russia launched new hypersonic non-nuclear missile at Ukraine
- 🛡️ Doubts about Russian missile capabilities raised by experts
- ✈️ Russia’s air defense systems destroyed 25 Ukrainian drones
- 🌍 Reports of missile attacks across Ukraine targeting energy infrastructure
- 🚨 Air raid alerts in place across entire Ukraine
- 🇺🇦 President Zelenskyy discusses North Korea’s involvement in the war
- 💰 Rouble plunges to lowest rate against dollar since Russia’s invasion of Ukraine
- 📰 Stay updated with Breaking News by installing the Sky News app
Currency Markets and Geopolitical Tensions
In the currency markets, various developments have impacted the value of major currencies worldwide. The South Korean won weakened following an unexpected interest rate cut, while the yen saw significant gains and is potentially facing a rate hike in Japan. The euro rose due to hawkish remarks from the ECB, and the U.S. Thanksgiving holiday led to lighter trade activity.
Amidst these currency fluctuations, geopolitical tensions also played a role in market movements. The Mexican peso rose after announcements regarding migration, and the Russian rouble strengthened as the central bank paused forex purchases. On the other hand, Brazil’s real plummeted to a new low due to concerns over tax cuts.
The ongoing conflict between Russia and Ukraine further intensified, with reports of missile attacks targeting Ukraine’s energy infrastructure. President Zelenskyy discussed possible involvement from North Korea, while doubts about Russian missile capabilities were raised by experts. The rouble plunged to its lowest rate against the dollar since Russia’s invasion of Ukraine, adding to the uncertainties in the global geopolitical landscape. Stay updated on these fast-moving developments with the Sky News app.