Impacts of US Dollar Strength and Asian Interest Rate Decisions on Forex Market
Friday, 22 March 2024, 03:48
USD Rally in Asian Markets:
The US dollar's dominance was evident as major Asian currencies faced downward pressure, with interventions seen in the Chinese yuan.
Interest Rate Decisions:
Swiss National Bank's surprise rate cut contrasted with the well-expected move by the Bank of Japan, affecting the Franc and Yen.
Economic Data Releases:
- Japanese CPI for February showed an increase from January figures.
- New Zealand trade deficit in February was lower compared to the previous month.
Central Bank Actions:
Bank of Japan Governor Ueda's remarks and Japan's intervention tactics were crucial in responding to currency movements.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.