Section
The latest forex coverage from the TrustFinance editorial desk.
A rare joint currency intervention by the U.S. and Japan could be a 'watershed moment' for the yen, with analysts at Eurizon SLJ Capital suggesting the dollar-yen pair has likely peaked and could strengthen toward 125 in the long term.
The South African rand remained stable against the dollar, trading near a five-month peak as investors overlooked disappointing domestic unemployment and manufacturing figures, focusing instead on upcoming U.S. inflation data.
U.S. Treasury yields held steady after July's Producer Price Index came in below expectations, strengthening the case for the Federal Reserve to hold interest rates, though underlying price pressures and energy costs limited market moves.
The U.S. dollar edged lower after July's Producer Price Index unexpectedly showed no monthly increase, reinforcing investor expectations that the Federal Reserve may pause its interest rate hiking cycle.
Argentina's government will now permit banks to lend up to 15% of their US dollar deposits, a move aimed at expanding credit access for companies and stimulating an economy grappling with high interest rates.
The rand remained resilient, supported by a weaker U.S. dollar after softer inflation data, even as domestic figures showed a continued contraction in mining production.
Argentina's government will permit banks to lend up to 15% of their dollar deposits to companies, a policy change aimed at increasing credit availability and stimulating economic activity amid high peso interest rates.
The South African rand maintained its position near a five-month peak on Thursday, supported by a softer U.S. dollar outlook that overshadowed a reported year-on-year decline in the nation's mining production.
The British pound edged lower against a resurgent U.S. dollar on Thursday, as currency markets reassessed the Federal Reserve's policy outlook following in-line inflation figures. The move came despite a mixed but resilient UK economic growth report.
