1037 days ago
Erdogan sent the Lira south after saying interest rates need to be lowered in the next two months. Turkey's inflation data in May is due to be made public Thursday with expectations set to see a record 17.3% rise--the highest point since May 2019.
1038 days ago
The British pound climbed to its highest value in three years as traders believe the UK's economy will get back up following a successful rollout of vaccines. This year so far, the Sterling climbed 4.2%, as three quarters of the UK population will be doubled dosed within a month.
1039 days ago
For the first time in a decade, the Chinese government has forced banks to hold more foreign currencies in an effort to contain Yuan's gains. Starting June 15, the nation's financial institution will be obliged to hold 7% of their foreign exchange, a 2% increase, and the first since 2007. The currency fell 0.2% following the news in Hong Kong on Monday morning.
1042 days ago
CFETS Index nearing 98, right at the top of its trading range. PBOC issued a statement warning against speculative one way bets. Fundamentals and flows point to further CNY strength. Next week's fixing to be closely watched.
1043 days ago
After more than a year of slumber, investors are preparing for currency volatility to come roaring back to life.
From Nomura International Plc to Rabobank, banks are recommending cheap protection against foreign-exchange price swings, which have been muffled so far by a barrage of liquidity and record-low interest rates.
The premise is that as growth picks up and central banks start telegraphing an end to all the stimulus unleashed during the pandemic, traders caught off guard may have to recalibrate their positions, setting the stage for sudden jolts.
