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Emerging Market Currencies around 19.0000


USDIndex Daily

The USDIndex Yesterday’s correction in the wake of US bank troubles, which caused global stock market declines, has led to a stabilization of the markets. Wednesday’s post Powell 105.85 The 2023 high has been replaced by a pre-NFP holding style at 104.70. The Yen The BoJ held rates steady and Kuroda, the outgoing governor suggested that it was too early to abandon ultra-accommodative policies. The decision wasn’t really a surprise, but there had been lingering speculation in markets that Kuroda could spring a final surprise before handing over to Ueda. USDJPY Lifted to within a pip 137.00But the Dollar lost ground to the dollar EUR Even more, versus Sterling CHF. Sterling saw an unexpectedly strong rebound in GDP at start of year. This added to speculations about whether the BoE will continue hiking rates. EURUSD It is just below the 1.0600 mark, Cable just under 1.2000. 

Elsewhere, Emerging Market As trends are set, currencies are also looking at key levels. USDTRY Pushing to 19.0000, USDZAR Trades at 18.3340 Rejecting an initial rally to the 19.0000 zone USDMXN A test of underperformance has been passed. 18.0000 this week all the way to Continue reading…

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