Foreign Exchange News Results

  • EUR/SEK: Looking For More From The Riksbank

    What can the Riksbank do to really shake things up for EUR/SEK? Given a 50 bps hike is so well expected, traders may be faced with a classic buy the rumor and sell the fact scenario when it comes to EUR/SEK on Thursday, unless the Riksbank does something more. Back in April, the Riksbank indicated a further 75 bps of hikes this year with the key policy rate topping out at 1.0% and at 1.8% in 2025.

  • BlockFi Announces Withdrawal Fees, Rate Changes Coming July 1: What You Need To Know

    Crypto lending platform BlockFi announced higher BlockFi Interest Account rates Friday. What Happened: As of July 1, BlockFi will be increasing BIA rates for Bitcoin, Ethereum and stablecoins, including USDC, Gemini Dollar, PAX and Binance USD.

  • Explained: Russian Ruble Hits Strongest Level In 7 Years Against US Dollar Despite Western Sanctions

    Withstanding severe western trade sanctions against Kremlin, the Russian Ruble has hit a seven-year high against the U.S. dollar. What Happened: On Wednesday, the Ruble had hit 52.3 to the dollar -- its most substantial level since May 2015.

  • Tether To Launch GBPT, A British Pound-Pegged Stablecoin, In Early July

    Tether is launching the pound-pegged stablecoin GBPT, following on the heels of its peso-pegged stablecoin. What Happened: The stablecoin is set to join the markets in July on the Ethereum blockchain. Tether endeavors to maintain a 1-to-1 ratio to the GBP for its stablecoin.

  • EUR/GBP Testing The 0.86 Ceiling

    Two months ago, EUR/GBP looked destined for the junk heap. Trades must now ponder whether some new catalyst will either push this cross back above the 0.8650 region, which has historically acted as a strong pivot area, or push price back down toward that 0.8310 precipice. That said, the 0.8650 region remains a big obstacle to overcome.

  • GPB Looks Cheap - But For Good Reason

    I'm tempted to look at a higher time frame chart of GBP/USD and say it looks cheap. UK inflation is my top concern for the British pound. Furthermore, the Bank of England looks for the time being less inclined than the Fed to do something about inflation. In contrast, the Bank of England raised by 25 bps in June to take bank rate to 1.25% as the majority of the MPC resisted a 50 bps hike.

  • Japanese Yen Might Change the Trend

    By RoboForex Analytical Department. At the beginning of the new week, the Japanese yen against the US dollar is consolidating but looks quite weak yet. USD/JPY buyers are not gone: they are lying low, waiting for a good time to resume action. Market players are saying that the devaluation of the yen has become one of the main trading ideas in the currency market this year.

  • EUR/USD flounders post Fed

    EUR/USD managed to make a gain in May, after four consecutive months of declines, but thus far June has proven to be a bad month in terms of performance. The technical setup very much mirrors the fundamentals. Whether you are a buyer or a seller, keep your eyes peeled for a successful break and retest or outright rejection of the 1.055 region.

  • Circle, Parent Company of USDC, To Bring Euro Stablecoin To Ethereum: Is MATIC Next?

    Cryptocurrency firm Circle announced on June 16 that it would be issuing Euro Coin. What Happened: As revealed to CoinDesk, USD Coin issuing company Circle would be launching Euro Coin. This news follows European Union regulators announcing that they would be structuring formal policies and regulations to oversee the issuing of stablecoins.

  • USDCHF Is Reaching For Parity Again

    The USDCHF can be relatively slow-moving compared to other major forex pairs. As of writing, the USD is again approaching parity with the Swiss franc, trading at 0.998. Last month, the pair was rejected at 1.001 and closed lower on the month after inflation in Switzerland rose faster than expected and landed further outside the Swiss Central Bank's target of 0-2% per annum.

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News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.