Even though the greenback is trading mixed against its major counterparts, the dollar index is still higher today, thanks in part to the fact that the euro (which is weighted most heavily in the basket) is lower against the US dollar. As Forex traders and analysts consider what’s next for central banks around the world, trading has become a little interesting. Many are waiting to see what the Federal Reserve will […]
Read moreThe New Zealand dollar extended its rally today, reaching the highest level since August 24 (the day when the currency has demonstrated a huge slump) against the US dollar and the Japanese yen. The kiwi rallied after the latest Global Dairy Trade auction showed that the average price jumped almost 10 percent. Dairy products are the major source of export revenue for New Zealand. The rally of other commodities (like crude […]
Read moreThe Japanese yen gained today following the monetary policy of Japan’s central bank. The bank refrained from making its policy more accommodative as some analysts had expected, thus supporting the currency. The Bank of Japan left interest rates and the size of the asset-purchase program unchanged at today’s meeting. Ahead of the announcement, there were plenty of market participants who were speculating that the central bank may ease its policy. And there are […]
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