US Dollar Index Heads Higher as Gold Drops

US dollar index is heading higher, gaining ground as gold drops. It’s an interesting situation today, since the dollar index is gaining, even though the euro is heading higher against the dollar for the time being.

Hungarian Forint Rises as Central Bank Ends Interest Rate Cut Cycle

The Hungarian forint advanced today after yesterday’s monetary policy meeting of the nation’s central bank. While the bank cut its main interest rate more than was expected, it also announced an end to the longest cycle of interest rate cuts in Europe.

Indonesian Rupiah Bounces to Two-Month High

The Indonesian rupiah climbed today, touching the highest level in two months, as it was announced that Joko Widodo is the victor in the nation’s presidential elections. This gives hope that political uncertainty will not be driving investors away from nation’s assets any longer.

Euro Struggles to Maintain Gains With Russian Sanctions Possible

Euro is struggling right now, trying to maintain the gains it eked out earlier in the session. However, that is proving a bit difficult, given the possibility of harsher sanctions against Russia over the whole issue of what’s happening in Ukraine.

BOE Minutes Weigh on UK Pound

UK pound is down pretty much across the board today, thanks in large part to the release of the minutes from the latest Bank of England meeting. It looks as though loose monetary policy is going to continue for a little while longer, and that is keeping the sterling down against its major counterparts.

Australian Dollar Jumps After Release of CPI

The Australian dollar demonstrated a huge jump today immediately after inflation data was released in Australia. The report was in line with market expectations, suggesting that the Australian central bank will keep monetary policy stable, refraining from an interest rate cut.

EUR/USD Keeps Losses due to Policy Outlook Divergence

The US dollar jumped against the euro yesterday and kept its gains today due to the divergence between the monetary policy outlooks for the United States and the eurozone. The greenback was virtually flat versus the Great Britain pound and somewhat lower against the Japanese yen.

Indonesian Rupiah Drops due to Contested Elections Result

The Indonesian rupiah dropped today as the result of this month’s presidential election was contested by one of the candidates, who said that the voting was undemocratic and unfair.

Thai Baht Advances on Hopes for Overseas Inflows

The Thai baht advanced today on speculations that government spending will improve the nation’s economy, attracting investors to the country. The currency rose to the highest level since November.

Euro Weakness Finally Shows as ECB Gets Serious About Stimulus

Forex traders are seeing that the ECB is really serious about stimulus, and the result is that euro weakness, after threatening for months, finally seems to be appearing on a more long-term basis. Euro is down against its major counterparts today, noticeably dropping through the 1.3500 level against the US dollar.

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