Forex Market

Safe-haven currencies soared on Monday due to Omicron fears

Safe-haven currencies soared on Monday due to Omicron fears

 The safe-haven currencies rallied on Monday as investors favored them over riskier ones. Market players feared that the governments might impose further curbs in Europe to hinder the spread of the Omicron coronavirus variant. Furthermore, the U.S. Federal Reserve’s hawkish stance supported the greenback.  After observing last week’s slew of major central bank meetings, traders …

Safe-haven currencies soared on Monday due to Omicron fears Read More »

U.S. dollar declined as the Fed adopted a hawkish stance

U.S. dollar declined as the Fed adopted a hawkish stance

The U.S. dollar traded under pressure on Friday. The European Central Bank and the Bank of England adopted more hawkish stances than forex markets had expected, boosting the euro and sterling. However, concerns about the Omicron coronavirus variant soured sentiment, pushing the risk-sensitive Australian dollar in the red and bolstering the safe-haven Japanese yen. The …

U.S. dollar declined as the Fed adopted a hawkish stance Read More »

Euro and Sterling rallied Thursday while dollar backpedaled 

Euro and Sterling rallied Thursday while dollar backpedaled 

The Euro and British Pound rallied on Thursday. Investors are waiting for the ECB and Bank of England monetary policy meetings. Meanwhile, the U.S. Federal Reserve has already unveiled its tightening plans. Traders will know the outcome of the European Central Bank meeting at 1245 GMT and the Bank of England’s at 1200 GMT.  On …

Euro and Sterling rallied Thursday while dollar backpedaled  Read More »

The dollar firmed, while Lira and EM currencies declined 

The dollar firmed, while Lira and EM currencies declined 

The U.S. dollar was steady on Wednesday while traders waited to see if the U.S. Federal Reserve would meet market expectations for rate hikes in 2022. The agency’s policy statement and economic projections will come later today.  Investors have been betting for the Fed to end its bond-buying around March. Afterward, the agency will likely …

The dollar firmed, while Lira and EM currencies declined  Read More »

U.S. dollar declined Tuesday while Euro and Sterling rallied

U.S. dollar declined Tuesday while Euro and Sterling rallied

The U.S. dollar traded a bit lower from a one-week high on Tuesday against a basket of six major currencies. Investors expect the Federal Reserve meeting to be hawkish. Uncertainty about the Omicron Covid-19 variant had prompted market players to move on the safe-haven greenback, but optimistic news somewhat decreased demand. Data on U.S. factory …

U.S. dollar declined Tuesday while Euro and Sterling rallied Read More »

dollar

U.S. dollar rallied Monday while Turkish Lira hit record low

The U.S. dollar surged forward on Monday while traders were waiting for the results of a slew of central bank meetings this week. They are especially interested in the U.S. Federal Reserve’s decision, speculating how quickly the agency will unwind its bond-buying program. Investors are also looking for clues on when the Fed will start …

U.S. dollar rallied Monday while Turkish Lira hit record low Read More »

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