The Turkish lira rose slightly this week as traders waited for the upcoming CBRT interest rate decision, as the crisis in the Middle East continued. The USD/TRY exchange rate retreated to 44 from the year-to-date high of 44.10. Turkish Central Bank interest rate decision The Central Bank of the Republic of Turkey (CBRT) will be
For a brief stretch earlier this year, the euro traded comfortably above $1.20. Investors were talking up Europe’s defence spending plans, big-ticket infrastructure projects and a more confident post-pandemic recovery. That optimism evaporated almost overnight. The war in the Middle East revived one of the euro’s oldest vulnerabilities: energy dependence. Crude oil surged toward $100
The USD/ZAR rebounded this week, reaching its highest level since December last year as the South African rand retreated amid the ongoing war in Iran. It was trading at 16.60 on Friday, up 6.45% from its lowest level this year. South African rand plunges amid war risks The South African rand and other emerging market
Asia’s heavy reliance on Middle Eastern oil is emerging as a significant economic vulnerability, leaving the region susceptible to prolonged supply disruptions, according to ING Group. While current inflation risks are largely contained, the prospect of higher energy import costs is set to weaken trade balances, placing currencies like the Philippine Peso (PHP), Thai Baht
The Chinese yuan is soaring and beating the US dollar as the debasement trade gains steam. The USD/CNY exchange rate was trading at 6.8365, its lowest level since April 2023. It has dropped in the last 14 consecutive weeks, and is down by almost 7% from its highest level last year. Why the Chinese yuan
The USD/JPY exchange rate continued rising this week, reaching its highest level since February 10 after Sanae Takaichi nominated two dovish central bank officials. It rose to a high 156, much higher than the year-to-date low of 152.28. Sanae Takaichi nominates dovish Bank of Japan officials The Japanese yen has retreated in the past few
The USD/CNY exchange rate continued its strong downward trend this week, reaching its lowest level since April 2023. It dropped to a low of 6.8955, down sharply from the all-time high of 7.3500 as the Chinese yuan gains steam. Chinese yuan gains steam after the Supreme Court tariff ruling The USD/CNY pair continued its strong
The USD/INR exchange rate continued its recovery this year, moving from a low of 83.77 in May last year to the current 91. This recovery continued this week as Indian bond yields and business activity rose. Indian bond yields and business activity are rising The USD to INR exchange rate rose on Friday as India
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