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Market participants increased their long positions in most Asian currencies versus two weeks ago. Bullish bets on the Chinese Yuan reached their highest value since December, as a Reuters survey disclosed on Thursday. It’s because the greenback languished close to multimonth minimums on political woes in the USA.
The survey was carried out between Tuesday and Wednesday. All responses were obtained before the Fed concluded its two-day gathering on Wednesday.
The key US bank maintained its benchmark lending rate and told it was keeping to its slow path of monetary tightening, though stressed both overall inflation as well as a measure of underlying price gains had went down. Apparently, the perceived dovish tone on inflation sent the greenback to a 13-month minimum versus a basket of currencies.
Long positions in the Chinese Yuan have rallied to their highest value since December. Meanwhile, the Korean won has demonstrated the most bullish bets since May.
On Tuesday, the evergreen buck bounced off a one-month minimum versus Japan’s currency because a selloff in global stocks relived, while the New Zealand dollar managed to surge after positive inflation data overnight…
On Monday, Bitcoin managed to surge steeply right after a credit scare on a key cryptocurrency exchange generated a rush for the number one crypto asset…
On Monday, the evergreen buck slipped due to the fact that US retail sales data for September missed analysts’ hopes, and as benchmark American Treasury yields stabilized after the previous week reaching their highest value for seven years…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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