Most Asian currencies experienced a slight increase in value on Wednesday, as the dollar showed signs of weakness, providing some relief to regional markets. However, the Japanese yen continued to underperform, despite concerns about potential government intervention. The USDJPY pair remained near 34-year highs and close to the 155 level, with little respite from the
Forex
UBS recently adjusted its forecast for the USD/JPY currency pair, attributing the change to the strength of the US dollar. The new quarter-end predictions set by the firm are ¥155 for June 2024, followed by ¥152, ¥148, and ¥145 for the subsequent quarters through March 2025. This revision reflects a shift from the previous forecasts
As UBS revises its forecast for the USD/PLN currency pair, several key factors are influencing their updated projections. The recent changes in the Federal Reserve’s interest rate outlook have played a significant role in shaping the new expectations for the exchange rate. Additionally, escalating tensions in the Middle East have added another layer of complexity
The currency market experienced significant volatility last week, resulting in the dollar holding steady against the euro and the yen. Investors are closely monitoring policy and geopolitical developments, particularly focusing on the upcoming Bank of Japan (BOJ) policy review. The yen’s proximity to last week’s 34-year low against the dollar has raised concerns, with the
The recent movements in various Asian currencies have been largely influenced by concerns over higher interest rates, particularly those set by the Federal Reserve. While the easing fears of a conflict in the Middle East have provided some relief, the overall sentiment remains bearish towards the dollar. This has resulted in most regional currencies nursing
The looming threat of currency depreciation in Asian countries is a topic of concern and uncertainty, as a wave of ‘beggar thy neighbor’ exchange rate policies could potentially hit the continent. While it may not necessarily be a full-blown currency war, the region is bracing for skirmishes due to various factors such as a resurgent
The U.S. dollar has experienced a slight decline in early European trade, with the Dollar Index tracking 0.1% lower at 105.960. This drop comes after the greenback reached a five-month peak of 106.51 on Tuesday. The shift in the dollar’s value can be attributed to comments made by Fed chief Jerome Powell, indicating that interest
Asian currencies experienced a weakening trend on Tuesday as the dollar soared to over five-month highs. This rise in the dollar was fueled by escalating geopolitical tensions between Iran and Israel, as well as increasing expectations of higher U.S. interest rates. Despite stronger-than-expected Chinese gross domestic product (GDP) data, which initially sparked some optimism towards
In the midst of increased tensions in the Middle East and uncertainty surrounding Federal Reserve rate cuts, the U.S. dollar has managed to maintain its elevated position. The Dollar Index, which measures the dollar against a basket of other currencies, has seen a slight decline but remains near its highest levels since early November. Last
The recent events surrounding both U.S. interest rates and escalating conflict in the Middle East have had a significant impact on the currency markets. Last week, the dollar saw its biggest weekly gain since 2022, rising by 1.6% against a basket of major currencies. This surge was fueled by a surprising increase in U.S. inflation,