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  • IMF: RBNZ should continue swift policy normalization

    In a report, IMF urged RBNZ to have “significant increases” in interest range in the near term to address inflation as a priority. IMF said, “with the recovery well-entrenched, tight labor market conditions, and elevated inflation, it is appropriate to withdraw fiscal and monetary support as envisaged.” Fiscal policy should “remain agile”. “While the scheduled tightening…

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  • Bank of Japan Will Not Keep Yen from Falling

    The Japanese yen has fallen for the third week in a row, and the amplitude of this decline has become rather scary on Tuesday. It seems yen traders’ stop-lines have been blown as the markets have become increasingly aware of the monetary authorities’ reaction to inflation and the outlook for the balance of payments. In…

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  • Pound / Euro Exchange Rate Firms

      The Pound to Euro (GBP/EUR) exchange rate is firming this morning, with the pairing trading at around €1.2006 after passing a key barrier of resistance this morning. Euro (EUR) Exchange Rates Subdued amid Ukraine Concerns The Euro (EUR) is trading on the back foot against the Pound (GBP) and the majority of its other…

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  • NZD Soars Despite Drop in Confidence

    The New Zealand dollar is up sharply on Tuesday. In the North American session, NZD/USD is trading at 0.6943, up 0.83% on the day. NZ consumer sentiment falls sharply Westpac Consumer sentiment slowed for a third straight quarter, and the Q1 release showed a sharp drop, falling from 99.1 to 92.1. The 100-level separates optimism…

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  • US Dollar Could Go “Through The Roof”

    Last week’s FOMC meeting raised rates and set the stage for a rapid succession of hikes. Powell repeated this message on Monday and paved the way for a 50bps hike in May, with potentially another 50bps in June. The situation is similar to the 1980s, and as ING point out “the dollar went through the…

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  • Nigeria to offer naira incentives to exporters to repatriate dollars

    By Chijioke Ohuocha ABUJA (Reuters) - Nigeria will offer a naira incentive to exporters of semi-processed or finished goods made at home in a push to shore up the country's dollar supply, the central bank said. Nigeria is facing chronic dollar shortages while rising demand has put pressure on the naira, as providers of foreign…

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  • Dollar falls as investors see Fed minutes as less hawkish than feared

    By Caroline Valetkevitch NEW YORK (Reuters) - The U.S. dollar index was down on Wednesday, hitting its lowest level since Friday after minutes from the last U.S. Federal Reserve meeting suggested policymakers are not set on a particular pace of interest rate hikes. According to the January meeting minutes released on Wednesday, Fed officials last month agreed…

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  • Dollar rises from two-week low after U.S. jobs surprise

    By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - The U.S. dollar advanced from two-week lows on Friday after data showed the world's largest economy created far more jobs than expected, raising the chances of a larger Federal Reserve interest rate increase at the March policy meeting. The dollar index, a gauge of its value against six major…

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  • Mexico’s Central Bank Will Launch Digital Currency by 2024

    (Bloomberg) -- Mexico’s central bank will have its own digital currency in circulation by 2024 as part of efforts to boost financial inclusion. “These new technologies and next-generation payment infrastructure are extremely important,” the federal government posted late Wednesday on its Twitter (NYSE:TWTR) account, confirming the bank’s plan. Central banks around the world are developing…

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  • Russian rouble falls past 74 vs dollar with central bank meetings in focus

    By Alexander Marrow and Andrey Ostroukh MOSCOW (Reuters) - The Russian rouble drifted lower on Wednesday, slipping past 74 versus the dollar for the first time in a week as investors focused on central bank meetings this week, including the U.S. Federal Reserve and the Bank of Russia. By 1722 GMT, the rouble was 0.7%…

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