Auto Added by WPeMatico

FX Strategists From Citi Say Euro Could Sink to $0.86 if Macro Turmoil Continues

While the euro has found support between 0.96 to 0.97 nominal U.S. dollars per unit, foreign exchange (FX) strategists from Citi believe the euro could tap a low of around…

Continue ReadingFX Strategists From Citi Say Euro Could Sink to $0.86 if Macro Turmoil Continues

Hong Kong Protects Local Currency in Forex Market Amid Capital Flight to US Dollar

Following the Bank of England explaining that it would be meddling in U.K. bond markets and the Bank of Japan defending the yen in the foreign exchange market last week,…

Continue ReadingHong Kong Protects Local Currency in Forex Market Amid Capital Flight to US Dollar

British Pound Taps All-Time Low Against US Dollar Following BOE’s 50bps Rate Hike

The world’s oldest fiat currency, the British pound sterling, slid to an all-time low against the U.S. dollar at a little after 1 a.m. (ET) Monday morning. At the time,…

Continue ReadingBritish Pound Taps All-Time Low Against US Dollar Following BOE’s 50bps Rate Hike

Euro Taps a $0.973 Low Against the US Dollar, Analysts Claim British and EU Currencies Are Trapped in a ‘Doom Loop’

On Friday, the official fiat currency of 19 out of the 27 member states of the European Union (EU), the euro, plunged to a low of $0.9732 against the U.S.…

Continue ReadingEuro Taps a $0.973 Low Against the US Dollar, Analysts Claim British and EU Currencies Are Trapped in a ‘Doom Loop’