Foreign exchange markets and global currency movements.
Coverage of currency markets including major pairs, central bank actions, interest-rate differentials, and geopolitical influences. This section highlights trends in FX markets that impact global trade, inflation, and cross-asset correlations.
514 total articles
The South African rand weakened on Monday as a firmer U.S. dollar and a sharp rise in oil prices weighed on the currency. Market nerves were heightened by reports from Tehran about a naval encounter near the Strait of Hormuz, while domestic indicators such as manufacturing sentiment and vehicle sales offered some offsetting support.
Romania's foreign currency reserves dropped to 64.8 billion euros in April from 67 billion euros in March, the central bank said on Monday. The decline has coincided with political instability after the Social Democrats withdrew support for Prime Minister Ilie Bolojan, leaving him to lead a minority cabinet. A no-confidence motion backed by the lef…
The Japanese yen strengthened sharply against the U.S. dollar in Asian trade on Monday, prompting investor caution that Japanese authorities could again step in to support the currency after heavy intervention the prior week. The dollar fell to 156.22 yen, having touched a session low of 155.69, while trading volumes were light with Japan on holida…
The U.S. dollar held steady in Asian trading as regional currencies remained largely rangebound amid lingering uncertainty over the Middle East conflict and the future path of U.S. interest rates. Market volumes were muted because of holidays in Japan and Mainland China. The yen strengthened after reported intervention last week, and the Australian…
The yen steadied in early Asian trade, edging higher after volatile sessions tied to suspected government intervention last week. Markets are watching for further official action during Japan's Golden Week holiday and whether international partners will join any support efforts. Other major currencies and select cryptocurrencies posted small direct…
The Canadian dollar slipped modestly versus the U.S. dollar on Friday but preserved most of its gains for the week, marking a fourth consecutive weekly advance. Strength in Canada’s manufacturing sector and preliminary first-quarter growth above central bank expectations supported the currency, while oil prices and government bond yields moved lowe…
Bank of America says Japan's April 30 intervention in the currency market - selling dollars and buying yen - may be followed by another similar action within days, following historical patterns where authorities re-enter the market after a partial retracement. Analysts flag the 158-159 area as a likely trigger zone for renewed action, but caution t…
Citigroup strategists led by Dirk Willer and Adam Pickett recommended booking profits on a long yen versus dollar trade after Japan intervened in currency markets and pushed the yen below 157 per dollar. The position, opened on April 1 around 158 per dollar, returned roughly 0.17%. The team cited the prospect of sustained higher oil prices as a con…
A Bloomberg analysis suggests Japanese authorities spent roughly $34.5 billion on Thursday to prop up the yen after it slid to 160.72 per dollar, its weakest level since mid-2024, before reversing. If confirmed, the action would be the first market intervention since July 2024 and the first under the administration of Prime Minister Sanae Takaichi …
Sterling and the euro made small gains versus the dollar on Friday following what market participants described as suspected Japanese intervention in USD/JPY. ING analysts said the action resembled earlier operations aimed at capping the pair, but warned the dollar's pullback may prove temporary amid geopolitical and commodity price uncertainties.
The Japanese yen reversed earlier gains on Friday after reports that Tokyo intervened in currency markets when USD/JPY breached the 160 level. Softer-than-expected Tokyo consumer prices for April compounded pressure on the yen even as the Bank of Japan signaled a hawkish outlook. The dollar steadied following steep April losses, while broader Asian…
India's gold allocation in its foreign exchange reserves rose to 16.7% at end-March 2026 from 13.92% at end-September 2025, the Reserve Bank of India said in its half-yearly reserves management report. The change reflects higher gold valuation amid a slight fall in total foreign exchange reserves to $691.11 billion, and a continued repatriation of …
Sterling edged higher against the dollar after the Bank of England left its policy rate unchanged, with Governor Andrew Bailey describing the decision as an "active" hold. The central bank flagged upside inflation risks tied to energy prices and outlined scenarios - including a path that could require a "forceful" rate increase - should those press…
Bank of America launched a fresh valuation model for the Australian dollar that places fair value at 0.7240, about 1% above the spot rate of 0.7185 recorded on April 29, 2026, and reiterates a year-end target of 0.74. The bank's approach blends an export-price commodity index, the three-year yield spread and a copper-to-S&P 500 ratio intended to ca…
UBS now anticipates the Reserve Bank of Australia will lift its cash rate by 25 basis points at the May 5 meeting and deliver another hike in August, taking the terminal cash rate to 4.6%. The revision follows trimmed mean CPI data that marginally undershot expectations even as year-over-year inflation readings point to persistent price pressures. …
The dollar remained firm in Asian trading after the Federal Reserve’s recent meeting signaled a more hawkish stance, helping the dollar index sit near two-week highs. The Fed left policy rates unchanged but recorded dissent among three officials opposed to easing language. Rising oil prices amid tensions between the U.S. and Iran lifted Brent above…
Emerging-market currencies weakened Wednesday morning after Brent crude climbed past $117 per barrel and the US signalled a continued naval blockade of Iranian ports. The dollar's strength, driven by a move into safer assets, pressured developing-nation FX and stocks while investors revised expectations for the timing of U.S. rate cuts. Central ban…
State-run oil refiners in India are making limited use of a special foreign exchange (FX) credit line provided through the country’s largest bank. Traders and industry sources say the rupee’s renewed weakness and high oil import bills have made the facility less attractive, prompting refiners to split dollar needs between the credit line, spot purc…
Sterling and the euro retreated modestly against the dollar on Wednesday as investors awaited the Federal Reserve's rate decision and Jerome Powell's final press conference as Chair. Short-lived equity volatility driven by AI concerns gave the dollar initial backing, but month-end rebalancing flows limited any sustained advance. Geopolitical fricti…
Iran’s currency dropped to a new record low against the U.S. dollar as previously suppressed demand for foreign exchange entered the open market following a ceasefire. The fall coincides with export suspensions, a U.S. blockade on Gulf shipping and sharply elevated inflation, intensifying pressure on Tehran’s ability to earn hard currency.
UBS has increased its USD/JPY forecasts across the coming quarters, citing elevated oil prices and a cautious Bank of Japan as constraints on a rapid yen recovery. The bank raised its end-June target to 158 and left open a gradual yen strengthening path as yield differentials narrow and market expectations for Fed easing evolve.
The U.S. dollar remained broadly steady in Asian trading as markets focused on a two-day Federal Reserve meeting expected to end with unchanged rates. The Australian dollar weakened after March consumer inflation figures came in slightly below forecasts, though data still showed a notable monthly rise largely driven by fuel costs tied to the Iran w…
A recent Crisil Coalition Greenwich report highlights rising use of algorithmic execution in foreign-exchange trading and the growing role of nonbank liquidity providers. About a quarter of buy-side desks now use or plan to use nonbanks for FX trades, drawn by pricing, technology, and execution quality, while long-standing bank relationships contin…
Sterling and the euro declined versus the dollar on Tuesday after a tepid reaction in Washington to Iran's proposed interim ceasefire - a plan that would reopen the Strait of Hormuz while postponing nuclear negotiations. The softer reception helped push oil higher and reintroduced uncertainty across markets. Despite these developments, the dollar h…
Bank of America warns that South Korea’s currency may come under further strain as outbound direct investment jumps to $72 billion in 2025 and shifts toward developed markets, particularly the United States and Europe. The bank highlights that manufacturing makes up less than a quarter of outbound flows, while finance and insurance dominate, and th…
