Page 36 - Urrencies News Today

The Japanese Yen (JPY) ticks higher during the Asian session on Wednesday and is now looking to build on its goodish bounce from the YTD low touched against its American counterpart the previous day.

Here is what you need to know on Wednesday, February 7: The US Dollar (USD) struggles to gain traction early Wednesday, with the USD Index (DXY) holding steady slightly above 104.00 after snapping a two-day winning streak on Tuesday.

Most emerging market currencies will struggle to recoup this year's losses against the dollar in coming months as expectations for aggressive rate cuts from the U.S. Federal Reserve diminish, a Reuters poll of FX strategists found. After ending 2023 on a positive note, the rally in the emerging market currency basket has ran out of steam and was down 1.2% for the year, hurt by higher U.S. Treasury yields. Better than expected U.S. economic data and hawkish comments from Fed policymakers h...

The US Dollar Index (DXY) is trading neutrally at 104.15 on Wednesday, while markets assess several Federal Reserve (Fed) officials' statements to continue placing their bets on activity at the next few Federal Open Market Committee (FOMC) meetings.

Risk-linked assets managed to gather extra steam on the back of renewed weakness surrounding the Greenback.

USD/JPY is caught in consolidation near the 148.00 handle in the midweek market session as a thin economic calendar leaves markets to churn on rate cut expectations and the odd appearance from central bank policymakers.

In Wednesday's session, the NZD/JPY stabilised at 90.40, after a surge to 90.70 as the pair found traction on the back of promising employment data from New Zealand reported earlier in the session.

The Aussie dollar found another excuse to extend the weekly bounce in the continuation of the downward bias in the greenback on Wednesday.

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