Analysts have raised their bullish forecasts on the Canadian dollar as central banks globally, including the Federal Reserve, move closer to concluding interest rate hiking campaigns, a Reuters poll showed on Thursday. The median forecast of nearly 40 currency analysts was for the loonie to strengthen about 2.0% to 1.31 per U.S. dollar, or 76.34 U.S. cents, […]
Japanese authorities are unlikely to intervene in foreign exchange markets to prop up the yen as the currency has already found some support and will head much higher as U.S. interest rates peak, former finance official Eisuke Sakakibara said. Sakakibara gained a reputation as a market mover in the 1990s after devising several currency interventions […]
The dollar rose against major currencies on Monday, broadly supported by Federal Reserve officials saying additional interest rate hikes are likely given that inflation remains persistently high and the labor market is still tight. Fed Governor Michele Bowman said on Monday additional interest rate hikes will likely be needed to lower inflation to the […]
Since China opened to foreign investment in 1978 under Deng Xiaoping, global firms have ploughed in hundreds of billions of dollars to buy and build factories for market access and cheap labour, bolstering the Chinese currency. A gentle downtrend in foreign direct investment gave way to a steep drop last quarter and inflows to China […]
Most Asian currencies fell on Tuesday as disappointing Chinese trade figures weighed on sentiment, while the dollar advanced amid uncertainty over the Federal Reserve and anticipation of key inflation readings this week. Government data showed that both Chinese imports and exports shrank at their fastest pace since the 2020 COVID-19 pandemic, pointing to continued weakness in Asia’s largest economy […]
Mexico’s peso on Friday hit its highest level against the dollar since early December 2015, as the greenback lost steam after a slowdown in U.S. inflation bolstered the case for the Federal Reserve to end its interest rate hikes. The currency, which has been dubbed the “super peso” in some quarters, including by its most […]
