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Foreign Exchange

Date : 2024-01-25
Time : 10:00:00
Foreign Exchange
  • Most Asian currencies fell slightly on Thursday, but were sitting on strong gains following more stimulus measures from China, while the dollar nursed some losses ahead of key fourth-quarter GDP data due later in the day.
  • The U.S. dollar dropped on Wednesday, taking a breather from recent gains, as investors consolidated positions and looked to economic data this week and the Federal Reserve policy meeting next week for more clues about the start of the easing cycle.
  • The U.S. dollar retreated from six-week highs in early European trade Wednesday amid rising risk appetite, while the euro struggled to push higher ahead of this week’s European Central Bank policy meeting.
  •  In the financial markets today, currency stability was the theme as investors positioned themselves ahead of key central bank meetings in Japan and Europe. The Japanese yen saw a notable uptick, trading at 147.74 to the dollar, as the market anticipates the Bank of Japan's upcoming policy meeting. The expectation is that the bank will maintain its negative interest rates, a stance that has gained further support following the recent earthquake in Japan.

 

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