Key Takeaways: 💸 Ethiopia’s central bank removed restrictions on the foreign currency market to secure funding from the IMF 📉 Ethiopian birr currency sank 30% against the dollar to 74.73 per dollar after the restrictions were removed 🔄 Banks can now buy and sell foreign currencies at freely negotiated rates 💰 Ethiopia will receive $10.7 … Read more
Key Takeaways: 💹 Yen strengthened due to Middle-East tensions 📉 Dollar-dip at 12-week low against the Yen 📈 Global equity market rebound in Asia 💼 Heavyweight U.S. earnings week ahead 💱 Speculation on BOJ and Federal Reserve policy decisions 💵 Dollar index fell while euro and sterling values fluctuated 🇬🇧 BoE rate cut odds seen … Read more
Key Takeaways 💹 Most Asian currencies firmed on Monday as the dollar retreated before the Federal Reserve meeting this week 📉 Dollar index and dollar index futures fell in Asian trade after easing inflation data on Friday 🏦 Focus this week is on the Fed meeting where rates are expected to be kept unchanged but … Read more
Key Takeaways 💱 Japan considers the reaffirmation of existing commitments against excessive foreign exchange volatility as a major achievement in the G20 joint communique 📈 Commitments in the G20 joint communique stress the adverse implications of excessive volatility or disorderly movements in exchange rates on economic and financial stability 🇯🇵 Japan’s concerns about a weak … Read more
Key Takeaways 💰 Bitcoin price dipped as Donald Trump addressed a crypto audience 🇺🇸 Trump expressed interest in U.S. leading in the cryptocurrency space 🗳 Republican party making efforts to appeal to crypto holders before the election 💡 Former President Trump spoke at a Bitcoin conference 🎤 He expressed skepticism about Bitcoin and other cryptocurrencies … Read more
Key Takeaways: 💱 Yellen mentioned that Japan explained their intervention in the currency market in 2022 📉 Volatility was observed by Japan leading to their forex intervention 🌎 Yellen made these statements while attending a meeting of G20 finance leaders in Brazil 💰 Japan’s intervention aimed to prevent excessive fall of the yen and protect … Read more
Key Takeaways 💵 Dollar steadied in early European trade before key inflation data release 📈 Euro slightly up; yen slips but still on course for a strong week 📉 U.S. economy expanded faster than expected, inflation slowed in Q2 📅 Focus on PCE price index data for future inflation insights 🇪🇺 EUR/USD edged higher after … Read more
Key Takeaways: 💱 Most Asian currencies showed flat-to-low movement, with the Chinese yuan experiencing volatility due to suspected intervention by the People’s Bank 📉 Weak risk appetite led to traders shying away from regional currencies, favoring safe haven options like the Japanese yen 🌏 Commodity-linked currencies, particularly Australian and New Zealand dollars, gained some relief … Read more
Key Takeaways: 💱 The yen drifted lower from a 2-1/2-month high against the U.S. dollar as markets stabilized. 📉 The yen rallied sharply this week as investors turned to safe assets like the Swiss franc and yen during a global stock market sell-off. 🏦 Markets are looking ahead to next week’s Bank of Japan meeting … Read more
Key Takeaways: 💱 Citi sees potential for tactical long positions in USD/JPY 📈 Support level at 152 mark maintained by the USDJPY pair 🛣️ Significant resistance turned breakout area in 2024 📉 Anticipation of better selling opportunities for USDJPY pair 🤖 Article generated with AI support and editor review 💸 Dollar is expected to weaken … Read more