BER Currency News

BER Home/s

  1. News
  2. Travel Money

Travel Money - BER News

Travel Tips & Practical Holiday Money Hints and Solutions

Markets Upbeat Ahead of FOMC and Trump Decision; Korean Won Best in Asia-Pac

price-chart-korean-won Ahead of major announcements in the coming days, investors were in surprisingly good spirits on Wednesday, indicated by a stronger New Zealand dollar, won, rupee and a faltering yen. Weakness in Asia-Pac FX would have been forgiven ahead of Thursday’s announcements by the FOMC (Wednesday in the US and Europe), Bank of England and Donald Trump, who announces his decision on the next Federal Reserve Chair; not to mention Friday’s US payrolls data.

Rand Continues Recovery Following Shocking Mid-Term Budget

south-african-rand The South African rand continued its recovery on Tuesday, strengthening to levels close to 14.0 per dollar, following last week’s budget-induced tumble. USD/ZAR had climbed as high as 14.35 on Friday – the rand’s weakest level against the dollar in eleven months – as investors dumped South African assets in response to last week’s mid-term budget which exposed the country’s struggles with sluggish growth, falling tax revenues, rising national debt and high unemployment.

Ruble Volatile After Rate Cut; Reverses From 8-Week Low

russia The Russian ruble has been one of the most volatile emerging market currencies in recent years, and it ended this trading week in much the same way. On Friday, USD/RUB’s high-low range ran close to 1.1 rubles, marking the Russian currency’s most volatile session since July. Yesterday’s excitement in USD/RUB was largely the result of the meeting of Russia’s central bank, at which the one-week interest rate was lowered to 8.25%, from 8.5%.

Asia-Pac Currencies Make Waves Against Euro After ECB Extends Asset Purchases

mario-draghi Currencies in the Asia-Pacific region made sweeping gains against the euro on Thursday night after the European Central Bank announced a cautious approach to the removal of monetary stimulus. Further to a zero percent interest rate, the ECB is currently buying €60 billion worth of assets (bonds) each month, with the goal of keeping eurozone borrowing rates extremely low.

Korean Won at 7-Week High, Canadian Dollar Suffers and ECB to Announce Plans for QE

korean-trader The South Korean won climbed to a seven-week high against the dollar on Wednesday (a USD/KRW low) of 1123.3 after third-quarter GDP data showed South Korea’s economy growing at its fastest pace in seven years. Third-quarter growth of 1.4% was well above the median estimate of 1.0% and an improvement on second-quarter expansion of 0.6%.

Philippine Peso at Eleven-Year Low and Australian Dollar Falls on CPI Miss

philippines The hearts of those holding Philippine pesos were broken on Tuesday after the currency slipped to its weakest level against the dollar in more than eleven years. The peso weakened by 33 centavos to 51.85 per dollar. The peso wasn’t alone in falling against the dollar; most Asia-Pac currencies did the same as the greenback shrugged off more Republican disharmony – seen as a potential obstacle to US tax reforms – late in the New York session.

Citi Bank Goes Against the Grain; Predicts Bank of Canada Rate Hike on Wednesday

citi-bank-2 As reported on Friday, the Canadian dollar ended last week with its largest one-day drop against the US dollar since January following disappointing economic data. The data signalled to markets that the Bank of Canada would hold steady on interest rates – currently at 1.0% – at its meeting on Wednesday, and the probability implied from derivatives markets of a quarter-point hike by the bank fell to just 19%.

Yen at Weakest Since July Following Abe’s Decisive Win and Strength in EUR/GBP Predicted

shinzo-abe-2 Shinzo Abe’s Liberal Democratic Party was the decisive winner in this weekend’s Japanese election, paving the way for a continuation of “Abenomics” and extremely loose monetary policy in the world’s third largest economy. Consequently, the Japanese yen weakened on Monday to levels above 114 per dollar for the first time since July.
Next Page

BER logo Best Exchange Rates - We make it Easy to Compare Exchange Rates & Fees of Banks and Currency Exchange & Payment Providers

Level 2, AMP Tower, 50 Bridge Street, Sydney, NSW 2000, Australia

Disclaimer | Copyright | Privacy Statement


Best Exchange Rates is an information only service. By browsing on the website, using our comparison tools or FX provider referral service, you are asking Best Exchange Rates to provide you with information about currency exchange products & services from multiple financial institutions.

We will try to show you a range of products & services in response to your request for information. The search results do not include all providers and may not compare all features relevant to you. In giving you product information we are not making any suggestion or recommendation to you about a particular product.

If you decide to conduct foreign exchange you will deal directly with a financial institution, and not with Best Exchange Rates. Rates and product information should be confirmed with the relevant financial institution, see our terms of use for further details.

Best Exchange Rates may receive fees or other benefits in relation to activity on the Best Exchange Rates website. Best Exchange Rates may receive remuneration for vendor referral links. Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.

Read our Full Terms of Service


This website and its contents are the copyright of BEST EXCHANGE RATES PTY LTD © 2009-17. All rights reserved.

Any redistribution or reproduction of part or all of the contents in any form is prohibited other than the following. You may print or download contents to a local hard disk for your personal and non-commercial use only. You may copy some extracts only to individual third parties for their personal use, but only if you acknowledge the website as the source of the material.

You may not, except with our express written permission, distribute or commercially exploit the content. You may not transmit it or store it on any other website or other form of electronic retrieval system.

For more details or request distribution right please contacxt us here.