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The Japanese Yen (JPY) remains on the front foot against a bearish US Dollar (USD) for the second straight day and climbs to a one-and-a-half-week high during the Asian session on Tuesday. Investors now seem convinced that the Bank of Japan (BoJ) will raise interest rates this week. This, along with a generally weaker tone around the equity markets, contributes to the safe-haven JPY’s outperformance. This also marks the fourth day of a positive move for the JPY in the previous five, though bulls might refrain from placing aggressive bets ahead of the highly anticipated two-day BoJ meeting starting Thursday.In…

German/ Eurozone flash PMIs OverviewThe preliminary German and Eurozone flash HCOB Purchasing Managers’ Index (PMI) data for December is due for release today at 08:30 and 09:00 GMT, respectively.Amongst the Euro area economies, the German and the composite Eurozone PMI reports hold more relevance, in terms of their impact on the European currency and the related markets as well.The flash Composite PMI for Germany is expected to come in slightly weaker due to a slowdown in the service sector activity. However, the overall business output is anticipated to hold above the 50.0 threshold, a level that separates expansion from contraction.Preliminary Services PMI…

The USD/JPY pair loses traction to around 155.10 during the early Asian session on Tuesday.  The Japanese Yen (JPY) edges higher against the US Dollar (USD) amid the expectation that the Bank of Japan (BoJ) will raise interest rates at the upcoming policy meeting on Friday. Traders will closely monitor key US economic data, including Nonfarm Payrolls (NFP), Retail Sales, and Purchasing Managers Index (PMI), which are due later on Tuesday. Rising bets for an imminent rate hike by the BoJ provide some support to the JPY and create a headwind for the pair. Traders have been pricing in the chance that…

The Euro (EUR) strengthens against the US Dollar (USD) on Monday as the Greenback remains under sustained pressure following last week’s 25 basis point (bps) interest rate cut by the Federal Reserve (Fed). At the time of writing, EUR/USD is trading around 1.1760, its highest level since October 1.Meanwhile, the US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, is hovering near 98.18, close to a two-month low.Adding to the US Dollar’s downside, dovish remarks from Fed Governor Stephen Miran kept the Greenback under pressure, as he defended his preference for a larger…

The USD/JPY trades 0.5% lower to near its weekly low around 155.00 during the European trading session on Monday. The pair is under pressure as the Japanese Yen (JPY) outperforms its peers, following the release of the Japan’s Q4 Tankan Manufacturing Index and Outlook data. Japanese Yen Price Today The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the New Zealand Dollar. USDEURGBPJPYCADAUDNZDCHFUSD-0.06%-0.13%-0.57%0.00%0.02%0.16%-0.03%EUR0.06%-0.07%-0.53%0.07%0.10%0.23%0.03%GBP0.13%0.07%-0.44%0.16%0.15%0.29%0.09%JPY0.57%0.53%0.44%0.60%0.61%0.75%0.55%CAD-0.01%-0.07%-0.16%-0.60%0.02%0.15%-0.04%AUD-0.02%-0.10%-0.15%-0.61%-0.02%0.14%-0.08%NZD-0.16%-0.23%-0.29%-0.75%-0.15%-0.14%-0.20%CHF0.03%-0.03%-0.09%-0.55%0.04%0.08%0.20% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote…

The rupee on Monday crashed to its lowest-ever level of 90.80 before settling at a fresh all-time low of 90.74 (provisional) against the US dollar, registering a loss of 25 paise over its previous close, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows. Forex traders said prevailing risk-averse market sentiment, compounded by strong US dollar demand from importers, further dented investor sentiment. At the interbank foreign exchange, the rupee opened at 90.53 against the US dollar, then lost ground and fell to a record intra-day low of 90.80, registering a 31-paise decline from its…

The rupee weakened further past the 90-per-dollar mark on Monday to a record low for the third consecutive session, driven by concerns over a prolonged deadlock in U.S.-India trade negotiations and persistent portfolio outflows. The rupee fell to 90.7850, extending its year-to-date decline to about 6%, before ending the session slightly higher at 90.73, compared with 90.4150 in the previous session. The Reserve Bank of India likely intervened to cap the rupee’s fall, traders said, while also noting that gradual depreciation of the currency is likely to persist in the absence of a trade deal with the United States.”Let’s see…

China’s yuan climbed on Monday to a fresh 14-month high against the dollar, as broad weakness in the U.S. currency overcame concerns over an economic slowdown in the Asian giant and a softer-than-expected official guidance fix. Higher seasonal corporate demand also lent support to the yuan as exporters usually convert a larger share of foreign exchange receipts for various payments and administrative requirements due towards the end of the year. In the spot market, the onshore yuan rose 0.05% to 7.0508 per dollar by 0323 GMT, its strongest since October 8, 2024. Its offshore counterpart fetched 7.0487 to the dollar,…

The Japanese Yen (JPY) sticks to its intraday gains through the early European session on Monday and seems poised to apprciate further amid hawkish Bank of Japan (BoJ) expectations. Against the backdrop of the recent shift in rhetoric from Bank of Japan (BoJ) Governor Kazuo Ueda, an improvement in business confidence reaffirms market bets for an imminent rate hike this week. Apart from this, a slight deterioration in the global risk sentiment turns out to be another factor underpinning the JPY’s safe-haven status.The aforementioned supporting factors, to a larger extent, offset concerns about Japan’s deteriorating fiscal condition on the back…

Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows. Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front. At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close. On Friday, the…