The Malaysian ringgit has been one of Asia’s worst performing currencies for some time.
Between May-2013 and September-2015 the exchange rate for MYR/USD declined from highs at 0.338 to 0.223 – a 34% fall in the currency’s value.
Markets gave the ringgit some respite between October-15 and April-16, a period in which the ringgit clawed back around half of the aforementioned losses, but then selling against the US dollar began again, which accelerated following the result of November’s US election. View article >
The team at BMI Research – part of the Fitch group of companies – are maintaining their “slightly bullish” short-term view on the Taiwan dollar, mainly on technical grounds.
Over a longer-term, analysts at the firm are also positive on the Taiwanese currency, believing in a “gradual appreciation”, based upon a solid fiscal outlook in Taiwan and what they see as an undervalued currency generally. View article >
In recent days, the Philippine peso has done what other Asian currencies were unable to, and that’s to make gains against the US dollar in an environment of heightened geopolitical risk – an environment normally associated with a sell-off in emerging market currencies.
The peso gained again on Monday following up on its superb performance on Friday, in which PHP/USD posted its biggest gain in almost a year. View article >
Despite what has been described by CNBC as a “shocker” of a US jobs report on Friday and a US attack on Syria – a move certain to have geopolitical ramifications – the US dollar ended the week strongly.
Against the Japanese yen, the dollar fell toward 110.10 early in the day on news of a US missile strike on a Syrian airbase and, having recovered in the interim, fell again to that level following weak payrolls data. View article >
The ‘Greenback’ was bolstered by the Chair of the Federal Reserve, Janet Yellen, who made hawkish indications that the Fed would raising interest rates soon as she warned against keeping rates low for too long. While markets have been predicting it for a while, Yellen’s comments make is almost certain that the Fed will hike rates in December. View article >
The ‘Loonie’ was weakened by falling oil prices as the possibility of OPEC reaching an agreement to curb crude production began to be questioned by markets once again.
However CAD may recover some of its losses later today if the Canadian consumer price index rises as expected, with investors currently predicting that it will jump from 1.3% to 1.5% in October. View article >
The British Pound Sterling is today down -0.56% against the United States Dollar, up 0.63% against the Euro, up 0.3% against the Swiss Franc, up 0.64% against the Australian Dollar, up 0.55% against the New Zealand Dollar, up 1.04% against the Japanese Yen and down -0.1% against the Indian Rupee
The Pound rallied against most of its peers yesterday as UK retail sales reached a 14-year high in October. View article >
EUR suffered due to renewed fears that the European Central Bank will seek to extend its economic stimulus programme past March 2017, with investors waiting for ECB President Mario Draghi’s speech in Frankfurt today for some indication on how the Bank will move.
The Euro is today down -1.11% against the United States Dollar, down -0.7% against the British Pound Sterling, down -0.42% against the Swiss Franc, down -0.06% against the Australian Dollar, down -0.22% against the Canadian Dollar and down -0.73% against the Indian Rupee
Read on for the 1-week and 3-month EUR cross rates, charts and trends. View article >
Lacklustre Australian employment data allowed the Pound to advance against the Australian Dollar (AUD) on Thursday as the labour reports only showed a disappointing rise of 9,800 jobs after they were expected to rise to 16,000. The ‘Aussie’ was also pressured by the cooling of iron ore, as prices continued to slide from a two-high.
The Australian Dollar is today down -1% against the United States Dollar, down -0.82% against the British Pound Sterling, down -0.2% against the Euro, even against the New Zealand Dollar, down -1.11% against the Chinese Yuan, up 0.44% against the Japanese Yen and down -0.47% against the Singapore Dollar
Read on for the 1-week and 3-month AUD cross rates, charts and trends. View article >
The New Zealand Dollar (NZD) was pressured by the strong US Dollar, with investors flocking from the risk sensitive ‘Kiwi’ to the ‘Greenback’ in anticipation of a December rate hike from the Fed.
The New Zealand Dollar is today down -1.01% against the United States Dollar, down -0.85% against the British Pound Sterling, down -0.23% against the Euro, even against the Australian Dollar, down -1.13% against the Chinese Yuan and down -0.5% against the Fijian Dollar
Read on for the 1-week and 3-month NZD cross rates, charts and trends. View article >