-- Most Asian currencies firmed on Thursday with the Australian dollar logging strong gains after Reserve Bank Governor Michele Bullock said the bank will not hesitate to hike interest rates further to quell inflation.
The Aussie dollar has been sold off quite a bit over the last few days, but it looks as if the attitude of traders changed drastically over the last 24 hours or so. At this point, we are looking at a range being tested again.
A week after Japan’s top central banker shook up global markets with comments about raising interest rates, one of his deputies promised not to hike them while markets are unstable. Wednesday's promise by Bank of Japan Deputy Gov. Shinichi Uchida helped Japanese stocks build on Tuesday's rally and saw the yen pull back further: + The Nikkei Stock Average closed 1.2% higher, after starting the Japanese morning down more than 2%. Wednesday's moves bring Japanese markets closer to where they were before July 31, when the central bank lifted its main interest rate to 0.25% and Gov. Kazuo Ueda suggested he wanted to keep tightening monetary policy.
- The U.S. dollar steadied in early European trade Monday ahead of key inflation data, while the euro edged higher as traders digested the results of the French...
-- Most Asian currencies moved little on Monday, while the dollar nursed steep losses amid growing expectations of interest rate cuts, while the Japanese yen firmed on...
-- Most Asian currencies drifted lower on Wednesday as the dollar regained more ground from recent declines, while the yen fell sharply after Bank of Japan officials downplayed expectations of interest rate hikes.
The trade involves an investor borrowing the currency of a place where interest rates are low, and using it to invest in a currency where interest rates are higher. The yen has been the most popular funding currency in recent years because of Japan’s ultralow interest rates.
European markets lost steam but the US pushed higher after 'a turbocharged turnaround Tuesday in Asia'.
The unexpected election results in India have introduced a degree of political uncertainty, which could influence market sentiment in the short term. However, Citi Research...
The Aussie dollar initially rallied a bit on Tuesday but gave up those gains rather quickly as we continue to see a lot of volatility in this current economic environment. At this point, the entire world of financial markets are more likely than not going to be driven by the