The pound fell against the dollar on Wednesday, capping a six-day rally but remaining well off recent lows following the government’s U-turn on some tax cuts earlier this week. The pound fell 0.6% to $1.1404 (GBPUSD) and was little changed at 87.095 pence per euro (EURGBP). The pound has recovered some ground after falling to a record low of $1.0327… Read More »Sterling drops ahead of UK Prime Minister Truss’s speech.
The Reserve Bank of New Zealand raises interest rates by 50 basis points, as expected. The New Zealand dollar has risen against the US dollar and the Australian dollar as a result of the hawkish hike. The RBNZ faces supply-side constraints that may necessitate additional jumbo hikes. The New Zealand Dollar gained some traction after the Reserve Bank of New… Read More »After the RBNZ delivered a 50-basis-point rate hike, the New Zealand dollar surged against the US dollar and the Australian dollar
The expectation that the Federal Reserve will tighten monetary policy further in order to lower high inflation caused the dollar index to remain stable near 112 on Friday after falling from a 20-year high of 114.778 earlier this week. Despite this, the index was still on track to post another strong monthly gain. The index is trading roughly 7% higher… Read More »Dollar Expected to Post a Big Monthly Gain
