Forex is an over-the-counter (OTC) marketplace where the currencies of the world are traded. In contrast to other prominent financial centers, forex facilitates trade without a centralized exchange, implementing an exclusively digital platform. Limited barriers of entry, ease of transaction and high market liquidity are its calling cards. Easily the world's largest market, the average daily traded volume in forex dominates all other global marketplaces. For April 2016, daily volume measured more than US$5 trillion in value, according to BIS. Of that amount, trade of major global currencies such as the United States dollar (USD), euro (EUR), Japanese yen (JPY)…
USDOLLAR’s next move depends on whether higher rate expectations and safe-haven demand outweigh doubts about Fed credibility and the growth risks from Hormuz.
Burnham may lift sterling sentiment, but fiscal credibility, relative rates and global risks will determine GBPUSD’s direction.
Dollar strength pushes the pair close to new multi-year highs, but rising South Korean inflation strengthening the case for BoK hikes could lead to pullbacks.
The yen's weakness reflects economic fundamentals that intervention alone cannot overcome.
The pair strengthens further amid rising Fed rate hike bets and cautious tightening by the BoJ, but FX intervention risks loom.
The central bank of Australia kept rates at 4.35% as expected and pointed to a potentially prolonged hold, but maintained its tightening bias.
The pair regains its upside bias, rebounding from the likely FX intervention by Japanese authorities, but challenges still loom.
The pair posts a steep decline today, raising fresh intervention speculation after last week's reported action, but that may not be enough to provide lasting support for the yen.
The Australian central bank raised rates again to contain rising inflation driven by the energy shock from the Middle East conflict, but its tightening runway is getting shorter.
USDJPY spiked above 160 before crashing back to the mid-150s amid strong verbal warnings from Japanese officials, with markets interpreting the move as likely intervention, making 160 a de facto policy red line regardless of official confirmation.
The pair drops on the lack of upside surprises in the data, but intensifying price pressures support the case for another RBA hike and the pair's bullish bias.
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