Pound Slumps to 12-Week Low Amid Falling Business Activity
A slump in economic activity in the United Kingdom has seen the sterling slump to a 12-week low. The UK S&P Global/CIPS composite Purchasing Managers' Index (PMI) fell from 50.8 in July to 48.6 in August, indicating a contraction in economic activity. The services...
Latin American Currencies Slip Following Chinese Economic Boost
Currencies of resource-rich Latin American countries mostly declined on Monday after the Chinese government decided to implement its latest measure to support its flailing economy. The government halved stamp duty on stock trading in an effort to fuel demand.
Brazil's real edged 0.2% against the...
Dollar Rises Ahead of Federal Reserve Chair Speech
The US dollar rose on Thursday as investors braced themselves for the Federal Reserve's Jackson Hole symposium, with Fed Chair Jerome Powell slated to speak on Friday. Softer-than-expected economic data during the week has further muddied investors' interest rate outlooks.
Viewed largely as a safe...
Dollar Retreats Ahead of Fed Chair Speech
The U.S. dollar retreated from a 10-week high against major peers on Tuesday despite Treasury yields surging toward a 16-year high. This comes as investors brace for Federal Reserve Chair Jerome Powell's speech from Jackson Hole later this week.
Measuring the dollar against a basket...
British Pound Set for Monthly Gain in July
The British pound is set to record its second straight monthly gain in July and fourth rise in five months. This comes as the Bank of England (BoE) mulls further interest rate hikes in an effort to cool stubborn inflation.
Currently, the British central bank...
Brazil’s Real Rises Following Tax Reform
Brazil's real surged on Friday after the country's newly-introduced tax reform bill was passed by the lower house of parliament on Friday. The currency was also boosted by a weakening dollar following the latest U.S. jobs report.
The real advanced by 1.1%, thereby driving a...