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Day: January 28, 2014
January 282014
Turkish Lira Jumps on Hopes for Higher Interest Rates
The Turkish lira jumped today as the central bank’s chief hinted that interest rates should be higher to rein rising inflation. It is just another sign that the trend for monetary easing across the world is waning. Erdem Basci, Governor of the Central Bank of the Republic of Turkey, demonstrated a hawkish tone in today’s speech, saying: We won’t refrain from implementing permanent policy tightening if needed. It is […]
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January 282014
Rupee Climbs After Surprising Interest Rate Hike by RBI
The Indian central bank raised interest rates today, a move that was unexpected to most analysts. As a result of such decision, the Indian rupee climbed by the most in more than two months. The Reserve Bank of India announced today that the policy repo rate under the liquidity adjustment facility and the Bank Rate were increased by 25 basis points to 8.0 percent and to 9.0 percent respectively. The major driver for the unexpected decision was a concern […]
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January 282014
UK Pound Gains Ground Even After Data Disappointment
UK pound is gaining ground today, even after a data disappointment. The latest GDP reading from the United Kingdom indicates that growth is moving at a slower rate than expected, and that is having an impact on the sterling. However, even with the data disappointment, the pound is still higher against its major counterparts today. Sterling has pulled back from highs against its major counterparts today, […]
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January 282014
EUR/USD Slides as FOMC Starts Meeting
EUR/USD dropped today after closing almost flat yesterday. The Federal Open Market Committee has started its two-day monetary policy meeting. Forex market participants speculate if the Committee will continue reducing monetary stimulus or not. Today’s data was not helpful for such speculations as some of reports were good, some were bad, giving no clear picture of the US economic health. Durable goods orders […]
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