Swedish Krona
The Swedish Krona eased slightly today after having a blistering rally yesterday with EUR/SEK hitting a 2-month low. The Riksbank monetary policy meeting minutes revealed a very hawkish tone and core CPI data was higher than anticipated for January, coming in at 0.4% m/m rather than -0.2% anticipated. The central bank raised rates by 50...
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US Dollar
The US Dollar is under the pump today even though the Federal Open Market Committee (FOMC) hiked the target rate by 25 basis points (bp) as widely anticipated. While the move is unequivocally a tightening of policy, it was in the post-meeting press conference that the message appeared to get somewhat jumbled when Fed Chair...
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forex education
The Japanese Yen gained 1.08% against the US Dollar on Wednesday, which is a notable achievement given JPY’s persistent depreciation since 2021. What was the cause of this move? Reports crossed the wires that the Bank of Japan conducted a rate check, opening the door to market intervention for the first time since 1998. Traders...
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