Day: September 16, 2016

September 16
2016

Dollar Strong After Inflation Beats Expectations

The US dollar was strong against its major rivals today as the inflation reading beat expectations, adding fuel to speculations about eventual interest rate hike from the Federal Reserve. The Consumer Price Index rose 0.2% in August, beating market expectations of a 0.1% increase. Meanwhile, the Consumer Sentiment Index reported by the University of Michigan remained stable at 89.8 in September. While it was a bit disappointing as experts had promised a small […]

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September 16
2016

Japanese Yen Higher amid Quiet Trading

The Japanese yen rose against its major peers today even though there were few news pieces to drive the currency one way or the other. With the current session being light on data and events, traders turn their attention to the future. The most important things next week are policy meeting of the Federal Reserve and the Bank of Japan. Market participants do not count on the Fed to tighten its policy and the BoJ to add […]

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September 16
2016

Pound Drops, Heads to Weekly Losses

The Great Britain pound fell today, heading to the worst week in five. Apparently, Brexit fears have returned to the market, driving speculators away from the currency. Previously, the sterling was supported by surprisingly good economic data. But now, traders are speculating that the actual exit has not yet begun and the economy may yet suffer when the process officially starts. Yesterday’s policy statement from the Bank of England was […]

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