The pressure continues to mount on Turkish lira. President Tayyip Erdoğan has once again vowed to continue slashing interest rates despite annual inflation running at more than 70% amid soaring energy and food prices. With the Fed – and soon the ECB – hiking interest rates, this is further exacerbating the problem. Higher yields with […]
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On Friday, 16 May, after markets had closed, Moody’s Ratings announced a downgrade of the long-term sovereign credit rating of the United States from the highest level of Aaa to Aa1. The key reasons cited Read more…
The USD/JPY pair declined for a fifth consecutive day, touching 145.25, as the US dollar faced sustained pressure following Moody’s decision to downgrade the US credit rating. Key drivers affecting USD/JPY On Friday, Moody’s cut Read more…
Daily Pivots: (S1) 192.96; (P) 193.52; (R1) 194.00; More… Intraday bias in GBP/JPY remains neutral and more consolidations could be seen below 196.38. Further rise is in favor as long as 190.22 support holds. On Read more…