HSBC has projected an upward trend for the US dollar (USD) against the Euro (EUR) and British Pound (GBP), as reported on Thursday. This forecast is driven by factors such as “US exceptionalism”, potential government shutdown, autoworker strikes, a temporary dip in USD strength, and high yields. The unique balance…

By Nell Mackenzie LONDON (Reuters) -Hedge fund Eisler Capital posted a 4.17% positive performance for the year to end-August, it said in a letter to investors, benefiting from a basis-trade strategy that has regulators worried about financial stability risks. According to the letter seen by Reuters, basis trades have been…

The anticipated depreciation of the British Pound in Q4 2023 is closely tied to the Bank of England’s interest rates. This analysis looks into three Sterling pairs that are predicted to be impacted by this development. The pair is expected to face challenges due to the dominant US Dollar. The…

In a significant move towards digitization, the European Central Bank (ECB) under the leadership of Christine Lagarde has proposed a legal structure for the introduction of a Central Bank Digital Currency (CBDC) across the 20 member states of the Eurozone. The ECB aims to roll out the digital euro by…

Investing.com– Most Asian currencies kept to a tight range on Wednesday amid continued fears of higher U.S. interest rates, while recent slumps in the Chinese yuan and Japanese yen saw traders watching for currency market intervention from their respective governments. The dollar steadied at 10-month highs, with the and both…

In a recent development on Wednesday, Mizuho’s analyst Cheung highlighted the People’s Bank of China’s (PBOC) strong bias towards the Chinese Yuan (CNY). The analyst underscored this through an email communication, pointing out the central bank’s foreign exchange risk prevention measures. The PBOC has been focused on stabilizing the and…

The US dollar’s dominance is being threatened by an increasing shift towards yuan-based transactions between Russia and China, as per a recent academic paper co-authored by EBRD’s Chief Economist Javorcik. This development is primarily due to the aftermath of Western sanctions that have driven a commerce surge between the two…

The pre-holiday trade volume between the yuan and the dollar has seen a significant drop, causing disruption to the usual daily average. Trading volumes have fallen to between $10 billion and $12 billion, a sharp decrease from the typical $30 billion daily average. This reduction in trade comes as markets…

Investing.com – The U.S. dollar steadied Wednesday near to new 10-month highs on worries of higher U.S. interest rates, while the euro and sterling fell to six-month lows. At 03:20 ET (07:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher…

In the wake of the ongoing Ukraine war and subsequent sanctions, Russia’s adoption of the could potentially undermine long-term dollar dominance, according to Beata Javorcik, Chief Economist at the European Bank for Reconstruction and Development (EBRD). This shift is primarily attributed to the diversification of invoicing currencies. The statement was…