Currency: Currency falls on Wednesday : Orishas-finance

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Currency: Currency falls on Wednesday

05/02/2025

Source : ORISHAS FINANCE

Categories: Economy/Forex

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Ce mercredi, les Australian and New Zealand dollars are struggling to extend their gains amid a trade war with the United States, while the Indian rupee is expected to fall to the opening. The yuan is collapsing due to trade war fears, while the yen is surging

Australian and New Zealand dollars were in trouble on Wednesday as Chinese markets returned from a full vacation week as investors waited to see if China and the United States will try to defuse their growing trade war.

Markets expect 95% of the Reserve Bank of Australia to cut rates on February 18, which would be the first easing in four years.

The Indian rupee is expected to fall at the opening on Wednesday, weighed down by the weakness of the currency in the undeliverable futures markets, while being unable to take advantage of the further fall in the dollar index.

The 1-month undeliverable futures contract indicated that the rupee would open at 87.14-87.16 per US dollar compared to 87.0675 in the previous session.

The yuan crashed on Wednesday as a new Sino-American trade war shook Chinese markets back from a long Lunar New Year break, while the yen jumped amid growing bets on further rate hikes by the Bank of Japan (BOJ) this year.

The offshore yuan was little changed at 7.2892 per dollar on Wednesday, after falling to an all-time low of 7.3765 per dollar at the start of the week.

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