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European majors are experiencing significant selling pressure today, with Euro leading the declines. Euro sharply depreciated as traders increased their bets on an aggressive 50 bps rate cut by ECB in December, following dismal PMI data. Market expectations for such a cut have surged to 50%, a substantial rise from around 15% just a day […]

The post Euro and Sterling Under Fire after PMIs, Swiss Franc Reverses Gains appeared first on Action Forex.

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Nikkei Takes Hit from Japan’s Vigorous Yen Verbal Intervention, But Yen’s Gain Lacks Strength
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Nikkei Takes Hit from Japan’s Vigorous Yen Verbal Intervention, But Yen’s Gain Lacks Strength

Nikkei tumbled sharply in Asian session today, largely in response to Yen’s rebound late yesterday, which followed strong verbal interventions by Japanese officials aimed at curbing the currency’s recent weakness. Additionally, profit-taking activities could be another factor as markets gear up for an extended holiday weekend. Yen’s rebound,while notable, has not yet demonstrated strong momentum, […]
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In today’s subdued Asian session, the currency markets saw minimal movement, with most major pairs and crosses gyrating within yesterday’s range. Japanese Yen managed to carve out modest gain, buoyed by optimistic remarks and tangible actions related to wage growth within the country. Chief Cabinet Secretary Yoshimasa Hayashi’s commentary on seeing “strong momentum” for wage […]
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Dollar Edges Up After Strong Q2 GDP, Yen Finally Retreats

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