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Updated: 1 hour 2 min ago
The Pound Sterling steadied on Thursday after the US Federal Reserve indicated a likely rate hike by year’s end.
The US Dollar was broadly higher and touched on a 2-month peak against the Japanese Yen after the Federal Reserve indicated that a December rate hike was still a possibility.
The New Zealand Dollar, aka the Kiwi, took the lead in movements among major currency pairs after the latest New Zealand poll showed a wide lead for the ruling National Party ahead of this weekend’s general elections.
Wall Street closed at record highs once again on Tuesday, but Asian stocks haven’t followed the trend, instead remaining fairly stable, rather than heading higher.
The US Dollar struck a fresh 8-week peak versus the Japanese Yen ahead of the start of a 2-day monetary policy meeting of the Federal Reserve Bank.
All eyes are on the U.S. Federal Reserve which is beginning its two-day policy meeting today after which the Fed is largely expected to keep interest rates stable while announcing a plan to reduce its balance sheets.
The Pound Sterling struck a 15-month peak versus its US counterpart ahead of Mark Carney’s speech later today.
Oil prices remained firm during Mondays Asian trading session and hovered near multi-month highs after U.S. drilling for new production declined and U.S. refineries continued their reboot after getting hit by Hurricanes Harvey and Irma earlier this month.
This week will have a high-impact news agenda, with monthly policy commentaries and bid rates from the FOMC and the Bank of Japan, as well as the Minutes of the recent determinations of the Reserve Bank of Australia.
Safe haven currencies were a hot commodity in the FX space after North Korea fired yet another missile, this time into the Pacific Ocean through Japanese airspace.