Most Asian currencies weakened slightly on Monday, while the dollar steadied as traders hunkered down before a string of key economic readings due this week. Mixed signals from China weighed on sentiment, as data showed a sustained, albeit narrowing decline in industrial profits. Top Chinese government officials called on Beijing to unlock more financial support for […]
The British pound experienced a notable surge earlier this week, reaching a two-month high against the weakening US dollar, only to see some of those gains diminish in subsequent days. The initial rally was prompted by a softer-than-expected US inflation report, which sent the pound soaring by 1.8%. However, as of today, the currency has […]
Nigeria’s currency, the naira, plunged to an unprecedented low of N1,105 to the U.S. dollar in the official market on Thursday, according to the latest data from LSEG. The significant drop from a previous rate of N830 per dollar has intensified economic uncertainty within the country. The exact cause of the naira’s steep decline remains […]
angladesh is grappling with a dollar shortage amid the ongoing global economic challenges, with its foreign exchange reserves dipping to $19.6 billion. The country’s reserves, which are sufficient to cover just over three months of imports, have been under pressure due to a combination of rising import costs and a decline in exports and remittances. […]
The dollar meandered on Thursday after U.S. jobless claims rose more than expected last week, indicating a cooling labor market that could prompt the Federal Reserve to cut interest rates in early 2024 as it tries to engineer a soft landing. The dollar index, a measure of the U.S. currency against six peers, edged higher 0.08% […]
Most Asian currencies moved little on Friday after strong gains earlier this week, while the dollar headed for a sharp weekly fall as weak labor market data fueled more bets that the Federal Reserve will trim interest rates by mid-2024. Weakness in the dollar put most regional units on course for a strong weekly performance, […]
