The Australian Dollar looks teed up for another turbulent week. At its November monetary policy meeting on Tuesday, the Reserve Bank of Australia (RBA) board members slashed the official cash rate (OCR) to a record low of 0.10% from 0.25% previous, as widely expected. The RBA set its three-year bond yield target at 0.10%. The [...]
GBP/USD traders bear the burden of the UK’s second national lockdown while ignoring upbeat news favoring odds of a soft Brexit. Also weighing the quote could be the US dollar gains amid the cautious sentiment ahead of tomorrow’s American election. In order to avoid the 20% GDP contraction, as it happened during the first lockdown [...]
Fears that the coronavirus (COVID-19) resurgence will recall the UK’s national lockdown recently weigh on the pound. This ignores the US dollar’s latest corrective pullback amid a light calendar. Covid updates, Brexit news and the second-tier US data should be watched for near-term direction. Tory government diplomats while citing the pressure to impose a national [...]
USD/JPY continues to trade higher with the Bank of Japan (BOJ) revising growth and inflation forecasts lower and keeping interest rates unchanged as expected. The central bank maintained the policy balance rate at -0.1% and retained the 10-year Japanese government bond yield target at about 0%, but downgraded the consumer price index (CPI) inflation forecast [...]
