Heather Erickson

The Euro remained on track for its best week against the U.S. dollar since the coronavirus pandemic hit on Friday. A hawkish turn by the European Central Bank (ECB) supported the currency. Soaring inflation across many global economies has forced various central banks to tighten monetary policies. Before that, the banks had dramatically loosened these …

Euro and EM currencies gained Friday while the dollar fell Read More »

The euro declined slightly on Thursday ahead of a meeting of the European Central Bank. The latter might signal a faster-than-expected monetary tightening to hinder rising inflation. Souring risk appetite in the forex market supported the U.S. dollar today. Analysts expect the ECB to keep policy unchanged on Thursday. However, the bank may also be …

Euro fell Thursday while the USD soared. What about Sterling? Read More »

The euro rallied for a third consecutive day on Wednesday. It soared from a 20-month low last week. Eurozone inflation surged to a new record last month, bolstering bets the European Central Bank might raise interest rates sooner than expected. In January, price growth reached 5.1%, soaring more than twice the ECB’s 2% target. The …

Euro skyrocketed Wednesday along with Sterling and Rouble  Read More »

The U.S. dollar plummeted down for a second straight session on Tuesday, lowering from the 19-week peak reached at the end of January. Meanwhile, riskier currencies such as the Australian dollar and the British pound surged forward. After dropping almost by 5% in January, world equities firmed slightly in February, with currency markets also changing …

Dollar plunged into deeper red Tuesday while Euro rallied Read More »

The U.S. dollar plummeted on Monday, lowering from a 1-1/2 year high reached on Friday. Over the weekend, hawkish comments by a Federal Reserve official pushed the U.S. yield curve to its flattest levels in almost three months. After last week’s meeting, the agency clearly telegraphed a March interest rate hike. Despite that, some traders …

U.S. dollar fell while the Russian rouble rallied Monday Read More »

The U.S. dollar consolidated gains today. It was on track for its biggest weekly surge in seven months, thanks to bets of higher interest rates. The latter fuelled the U.S. unit’s gains versus rivals. Currently, money markets are pricing 32 bps of rate hikes in March, along with 124 bps in cumulative increases before the …

Dollar still high while other currencies fluctuated  Read More »

The U.S. dollar skyrocketed to its highest levels since July 2020 against the basket of six major currencies on Thursday. Investors’ bets the U.S. Federal Reserve could deliver faster and larger interest rate hikes in the following months supported the currency. The agency flagged in the previous day that it was ready to start lifting …

U.S. dollar hit its highest level in a year. Why’s that?  Read More »

On Wednesday, the euro tumbled down almost to a 1-month low against the U.S. dollar and the Japanese yen. Concerns about the potential for military conflict in Ukraine weighed on the currency ahead of the Federal Reserve wrapping a meeting. The latter may herald accelerated monetary tightening. Moreover, the Bank of Canada is also going …

Euro plunged to a month-low while Canadian dollar rallied Read More »