Key Takeaways: 💹 Long positions on the Singapore dollar are at their highest since early April 2023 📉 Bearish bets on the Malaysian ringgit fell to levels seen in April last year 📈 Monetary Authority of Singapore (MAS) is not expected to ease policy settings 🛡️ Singapore’s triple-A sovereign credit rating makes it a safe … Read more
Key Takeaways: 💸 The RBI may prefer mild rupee weakness to correct overvaluation 📉 BofA expects the rupee to decline to 84 to the U.S. dollar by the end of the year 📊 The trading range for the rupee has slightly weakened this month 💹 The RBI’s dual-sided intervention has kept the rupee’s volatility in … Read more
Key Takeaways 🛡️ Yen received safe-haven support amidst risk aversion sentiment 💹 Yen strengthened against major currencies due to carry trades unwinding and risk aversion 📈 Speculation about BOJ rate hike next week led to yen short positions closing 📈 Abandoning of short yen bets ahead of Bank of Japan meeting 💵 Dollar slightly fell … Read more
Key Takeaways: 💰 Japanese officials are implementing novel FX intervention tactics to strengthen the yen 📉 The yen has strengthened by almost 4% this month due to intervention 🔄 Traders are shifting to a more bullish stance on the yen in the derivatives market 🛑 The prospect of unpredictable intervention has made speculators with bearish … Read more
Key Takeaways 💵 Dollar fell to its lowest in over two months against the yen 📈 Yen rose against the euro amid narrowing yield differentials 📊 Dollar index fell to 104.35 🌐 Global growth concerns impacting market sentiment 🇺🇸 U.S. PMIs were fairly positive 🏦 BOJ likely to debate raising rates and reducing bond purchases … Read more
Key Takeaways 💹 Dollar fell to lowest in over two months against yen as carry trades unwound 📉 Yen rose to highest since mid-May against euro 📊 Dollar index down 0.34% at 104.12; S&P Global reported PMI Output Index at 55.0 💱 Japanese central bank likely to debate interest rate increase at July meeting 📉 … Read more
Key Takeaways: 💸 Japanese officials are using novel tactics for FX intervention, making it difficult for investors to predict their moves 📈 Bank of Japan likely spent nearly 6 trillion yen this month to shore up the yen 🕰️ Officials stepped in as the dollar traded at 160 yen two weeks ago, causing a drop … Read more
Key Takeaways 💰 Commodity currencies are struggling due to weakening raw material prices 📉 Canadian dollar hits a three-month low ahead of the likely rate cut by Bank of Canada 🇦🇺 Australian dollar falls against the yen and is down nearly 7% in two weeks 📉 New Zealand dollar falls to a near three-month low … Read more
Key Takeaways: 💵 Dollar Index rose by 0.1% to 104.232 🇪🇺 Euro fell by 0.2% to 1.0835 after disappointing eurozone activity data 📉 Growth in eurozone business activity stalled in July with a PMI dropping to 50.1 🏴 GBP/USD traded 0.1% lower at 1.2898 due to strong British business activity 🇨🇦 USD/CAD rose 0.1% to … Read more
Key Takeaways 💸 Commodity currencies like AUD, NZD, and CAD are sliding to multi-week lows. 🔻 Yen is surging to its highest in two months against commodity currencies. 📉 Falling prices for industrial metals are impacting currency movements. 📉 Markets are pricing in an 84% chance of a 25 basis point rate cut in Canada. … Read more