Online Forex broker
Having weakened to a 13-month minimum the common currency rebounded above the $1.14 mark on Monday due to the fact that the Turkish lira drifted away from record minimums versus the evergreen buck, although still facing big losses for the day.
The currency pair EUR/USD jumped to 1.1423, having dived to 1.1365 overnight, which is its weakest reading since early July of last year.
Having soared back briefly above the 7 lira to the greenback level, the currency pair USD/TRY finally reached 6.8921, although still gaining 7.62% for the day. Overnight, the currency pair demonstrated a record maximum of 7.1326.
The Turkish currency managed to pare back some of its dips right after Turkey’s key financial institution promised to provide liquidity and reduce lira as well as foreign currency reserve requirements for the country’s banks.
Worsening relations between Turkey and America have pushed the lira down over 40% in 2018. For the last week the Turkish currency lost 1/5 of its value against the evergreen buck.
The Turkish lira has also been suppressed by concerns as for Turkish leader’s soaring control over monetary policy as well as the economy and also his opposition to higher interest rates.
The selloff in the Turkish currency has affected financial markets against the backdrop of worries over companies’ exposure to the Turkish lira and economy. On Friday, the ECB warned that a number of euro zone financial institutions can be exposed to the steep dive in the Turkish currency.
Assessing the purchasing power of the American currency versus its key rivals, the USD index went down by 0.09% being worth 96.10 having soared to a 13-month maximum of 96.39 earlier.
The currency pair USD/JPY hit 110.77 having dived to a one-and-a-half month minimum of 110.11.
The currency pair EUR/JPY reached 126.49, bouncing off an intra-day minimum of 125.13.
On Wednesday, Bitcoin managed to rally in the face of mixed crypto trading reacting to news that Seed CX is geared up towards capturing institutional traders via a bitcoin spot trading market…
On Wednesday, the Japanese yen headed south versus its major peers because investor risk appetite improved during Asia trade, although worries over decelerating global surge and US-China trade clashes will probably cap gains in risky assets…
On Tuesday, the evergreen buck managed to stabilize in Asia because the International Monetary Fund had its 2019 as well as 2020 global surge forecasts cut overnight…
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…
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
