Yen to rise on better than expected inflation data
In mid-January, the Greenback tumbled against the most traded currencies when Trump expressed his concern about the rising strength of the US dollar. In particular, the USD/JPY pair fell about 300 pips to record a low of 112.51. However, expectations
Read MoreUK ATM Industry Association Says Funding Issues Must Be Solved
There are currently around 16,000 ATM’s in the UK that charge customers for using their services and more than 54,000 ATM’s that offer their services free of charge. The ATM Industry Association in the United Kingdom is trying to secure
Read MoreRBI Admits No Fake Notes Have Turned Up So Far
The Reserve Bank of India has said that so far no fake currency notes have been detected among the Rs. 500 and Rs. 1,000 currency notes deposited with the banks after their demonetization was announced in November 2016. The central
Read MoreSoft increase in GDT index reading turns Kiwi dollar weak
The US dollar’s rally against major currencies ended temporarily in the last week of December. The Greenback extended losses in the first-half of January 2017 when the US President-elect Trump opined that the currency’s strength is hurting the US economy.
Read MoreCBDT Temporarily Suspends Foreign Funds Taxation By Investors
A notification stating that a controversial taxation circular issued last month is being reconsidered and will be put on suspension has reassured Foreign Portfolio Investors (FPI) having considerable exposure to Indian stocks. The circular contained new provisions to tax India-dedicated
Read MorePound Sterling Takes A Beating On Expectations Of A Hard Brexit
The British pound has dropped yet again now reaching a three-month low on fears of a formal confirmation that UK will be pursuing a hard Brexit in its negotiations with the European Union. The pound sterling was down to $1.1983
Read MoreEuro remains weak on worries over political uncertainty
Between December 15th and January 11th , the EUR/NZD pair appreciated from 1.4740 to 1.5230. The main reason for the appreciation was the FOMC’s statement underlining the possibility of three rate hikes of 25 basis points in 2017. The statement
Read MoreDOJ Charges UK-based Traders For Forex Currency Rigging
Three former traders from the UK have been charged by American officials for conspiracy under an ongoing probe into the largescale foreign exchange rate rigging scam that occurred between 2007 and 2013. The U.S. Department of Justice (DOJ) brought criminal
Read MoreBritish Prime Minister Calls For New Trading Relationship With EU
British Prime Minister Theresa May has said that Britain will have an entirely new trading relationship with Europe post Brexit, causing the pound to slide further on fears that her remarks indicate a total withdrawal from EU’s single market. Hinting
Read MoreEuro strengthens as economy shows signs of recovery
The Fed’s outlook of three rate hikes this year considerably eroded the prominence of the New Zealand dollar as a ‘carry trade’ currency. This was the prime reason for the Euro, which buckled against the Greenback, to gain ground against
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