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Day: August 1, 2018
August 12018
Japanese Yen Plunges As BOJ Maintains Ultraloose Monetary Policy
The Japanese yen continued to plummet against the US dollar and a basket of other currencies. After the Bank of Japan (BOJ) maintained its ultraloose monetary policy, surprising international markets, the currency continued its sluggish performance over the last five trading sessions. On Tuesday, the BOJ decided to only modify its yield curve control policy, refraining from diminishing its accommodative policies that have been in place since the financial crisis […]
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August 12018
Japanese Yen Plunges As BOJ Maintains Ultraloose Monetary Policy
The Japanese yen continued to plummet against the US dollar and a basket of other currencies. After the Bank of Japan (BOJ) maintained its ultraloose monetary policy, surprising international markets, the currency continued its sluggish performance over the last five trading sessions. On Tuesday, the BOJ decided to only modify its yield curve control policy, refraining from diminishing its accommodative policies that have been in place since the financial crisis […]
Read more
August 12018
EUR/USD Drops, Pays Little Attention to FOMC Policy Announcement
EUR/USD was falling on Wednesday even as most US macroeconomic reports were underwhelming (with the notable exception of employment data). The policy meeting of the Federal Open Market Committee was in focus today, but in reality its impact on the market was limited. While traders did not expect any changes for monetary policy, they were looking for the statement to provide more clues about the FOMC plans. But the statement had not […]
Read more
August 12018
Euro Rallies Against US Dollar Despite Positive ADP Jobs Report
The euro today rallied slightly against the US dollar recovering most of its initial losses against the greenback in the early to mid-European sessions. The EUR/USD currency pair rallied higher in the early American session despite the release of the positive US ADP employment report. The EUR/USD currency pair rallied from a low of 1.1671 in the late Asian session to a high of 1.1700 in the early American session. The release of several PMI prints from across the euro area […]
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August 12018
Euro Rallies Against US Dollar Despite Positive ADP Jobs Report
The euro today rallied slightly against the US dollar recovering most of its initial losses against the greenback in the early to mid-European sessions. The EUR/USD currency pair rallied higher in the early American session despite the release of the positive US ADP employment report. The EUR/USD currency pair rallied from a low of 1.1671 in the late Asian session to a high of 1.1700 in the early American session. The release of several PMI prints from across the euro area […]
Read more
August 12018
British Pound Reverses Losses and Rallies on Positive Housing Data
The British pound today reversed its losses against the US dollar and rallied higher from the early European session following the release of positive UK housing data. The GBP/USD currency pair extended its rally into the mid-European session despite the release of disappointing UK Manufacturing PMI data by IHS Markit shortly thereafter. The GDP/USD currency pair today rallied from a low of 1.3095 to a high of 1.3138 in the mid-European session. The currency pair’s […]
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August 12018
British Pound Reverses Losses and Rallies on Positive Housing Data
The British pound today reversed its losses against the US dollar and rallied higher from the early European session following the release of positive UK housing data. The GBP/USD currency pair extended its rally into the mid-European session despite the release of disappointing UK Manufacturing PMI data by IHS Markit shortly thereafter. The GDP/USD currency pair today rallied from a low of 1.3095 to a high of 1.3138 in the mid-European session. The currency pair’s […]
Read more
August 12018
EUR/USD Drops, Pays Little Attention to FOMC Policy Announcement
EUR/USD was falling on Wednesday even as most US macroeconomic reports were underwhelming (with the notable exception of employment data). The policy meeting of the Federal Open Market Committee was in focus today, but in reality its impact on the market was limited. While traders did not expect any changes for monetary policy, they were looking for the statement to provide more clues about the FOMC plans. But the statement had not […]
Read more