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Published on 24/11/2022 11:34:26 AM | Source: GEPLCapital Ltd

The U.S. dollar extended its losses against the euro - GEPLCapital

Posted in Currency Report| #GEPLCapital Ltd #Currency Tips

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News / Other data

* Activist investor Bill Ackman said on Thursday that his hedge fund Pershing Square holds a large short position against the Hong Kong dollar, and that it was only a matter of time before the currency’s peg to the dollar breaks.

* The U.S. dollar fell across the board on Wednesday, after minutes from the Federal Reserve's November meeting showed that most policymakers at the central bank agreed it would soon be appropriate to slow the pace of interest rate hikes.

* The U.S. dollar extended its losses against the euro and the yen on Wednesday, after minutes released from the Federal Reserve's November meeting showed a "substantial majority" of policymakers agreed it would "likely soon be appropriate" to slow the pace of interest rate hikes.

* The Russian rouble strengthened on Wednesday ahead of three OFZ treasury bond auctions by the finance ministry, as the market awaited information on a price cap on Russian oil exports.

* The U.S. dollar weakened in early European trade Wednesday, retreating ahead of the release of the minutes from the latest Federal Reserve meeting which could offer clues over the size of future rate hikes. At 03:15 ET (08:15 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, fell 0.3% to 106.825.

* Most Asian currencies moved little on Wednesday as rising COVID-19 cases in China and the introduction of new curbs weighed on sentiment, while the New Zealand dollar rallied after a record-high interest rate hike by the central bank. 

Data inference

* 'Actual' greater than 'Forecast' is good for currency.

 

 

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