On Tuesday, the Nigerian naira showed a significant appreciation of 21.81%, closing at an official rate of N815.32/$1, up from N993.82/$1 the previous day. This change was accompanied by intraday figures that ranged between a high of N998.00/$1 and a low of N6475.00/$1, marking a spread of N523/$1. Despite this appreciation, Tuesday also saw a
© Reuters. The Reserve Bank of India (RBI) is facing challenges in managing the volatility of the rupee due to a continuous decline in forex reserves, which fell by $2.36 billion to $583.53 billion for the week ending October 20th. This decrease occurred despite a $1.15 billion increase in the preceding week, and follows a
In the latest development in the currency market, the experienced a dip from 151.70 to under 151.20 following hinted intervention by Japanese officials. Officials Kanda, Suzuki, and Matsuno expressed their concern against “one-sided,” “speculative,” and “disorderly” movements, which led to this shift. Following this, the AUD and NZD rebounded after initial depreciation against the USD.
© Reuters. Investing.com– Traders remained on edge over any potential intervention in currency markets by Japanese authorities, as the yen plummeted to a one-year low after the Bank of Japan disappointed markets with only minimal changes to its yield curve control policy. The slid 1.7% on Tuesday to 151.77- its weakest level against the dollar
© Reuters. The Bank of Japan (BOJ) has made a dovish adjustment to its Yield Curve Control (YCC) policy, leading to a weakened Japanese yen (JPY) against G-10 and Asian currencies. The adjustment has increased flexibility by placing a 1.0% upper end on the 10-year Japan Government Bonds (JGB) yield range as a reference rather
The currency pair maintained its position above the 149.00 marker during the early Asian trading hours on Tuesday, registering a daily change of 0.04%. This stability comes in light of speculation around the Bank of Japan’s (BoJ) potential alterations to its Yield Curve Control (YCC) approach, as suggested by a report, which has lent support
© Reuters. The exchange rate experienced a downturn today, impacted by strong Australian retail data and concerns about the UK economy. This follows last week’s dip in the currency pair due to disappointing UK labor market indicators and anticipation of a rate hike by the Reserve Bank of Australia (RBA). Australia’s robust retail data, indicative
© Reuters. The trajectory of the currency pair is expected to remain largely unchanged, despite key events in Japan this week. This includes the Bank of Japan’s (BoJ) meeting and the Ministry of Finance’s (MoF) data intervention release, according to Goldman Sachs. The USD/JPY recently crossed the 150 threshold, a significant milestone that has drawn
© Reuters. The currency pair experienced a rebound this week, testing resistance levels amidst a backdrop of favorable US consumer sentiment and personal spending data. The pair hit a new low at 149.47 before recovering to 149.77, marking a positive start to the week. The pair is currently testing resistance levels, with the previous high
© Reuters Investing.com – The U.S. dollar edged higher in early European trade Monday, retaining last week’s strength at the start of a week that includes several central bank meetings, most importantly by the Federal Reserve, as well as a slew of important economic data releases. At 03:20 ET (08:40 GMT), the Dollar Index, which
