Forex Market

The US Dollar (USD) declined on Tuesday amid increased concerns about the COVID-19 pandemic and uncertainty about the upcoming elections and a new economic stimulus package. The Dollar Index (DXY), which measures the performance of the USD against a basket of six major international currencies, is down by 0.41% at …

The British Pound (GBP) is declining against the US Dollar (USD) on Tuesday despite the later showing weakness across the board. This comes amid Brexit uncertainty and worries about the second wave of the Coronavirus (COVID-19) pandemic. The GBP/USD is trading lower for the day by 0.04% at 1.2943. The …

The Euro struggled to rise above the level of $ 1.18 on Tuesday as hopes for a stimulus package to help those affected by Corona in the United States dashed, dealing a blow to high-risk assets globally, as the increase in Coronavirus cases in Europe pressed the single currency. While …

The Central Bank of Russia is expected to maintain interest rates unchanged on Friday, according to a Reuters poll on Monday. The majority of participating analysts, 25 out of 29 believe the main rate will be kept unchanged at 4.25%. In September, the Russian Central Bank kept the key interest …

The Central Bank of Turkey is expected to raise its main interest rate by 175 basis points to 12% this week, according to a Reuters poll. Despite a surprise 2% increase in interest rates last month, the Turkish Lira (TRY) declined by 4% against the US Dollar (USD), continuing its …

The British Pound (GBP) rose on Monday, despite uncertainty surrounding trade talks between the United Kingdom (UK) and the European Union (EU), amid hopes for the two parties reaching an agreement before the end of the year. London does not plan to return to trade negotiations with the EU next …

The United States Federal Reserve Chair Jerome Powell said on Monday that it is more important for the US to get it a digital currency right than to just be first in the field. “We do think it’s more important to get it right than to be first and getting …

The pair was unable to capitalize on the rally and faced heavy selling near the 1.2960 area in response to UK Prime Minister Boris Johnson’s comments regarding Brexit. Johnson said he would seek a no-deal Brexit unless there is a fundamental change in the EU approach. Johnson’s comments led to …

The British Pound (GBP) declined against the US Dollar (USD) on Thursday, with the USD showing some strength across the board. Meanwhile, the GBP is impacted by Brexit uncertainty, as well as worries about the second wave of the COVID-19 pandemic and new lockdowns imposed by the British government. The …

The Turkish Lira (TRY) hit another record low on Thursday as the USD/TRY pair reached 7.95, getting close to an unprecedented level of 8. Ankara’s monetary policy has been heavily criticized as it is failing to stop the local currency’s wounds. USD/TRY is currently trading at 7.9323, up by 0.28% …