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Expert market insight and updates to help you navigate the ever changing global currency markets.
Ebury acquires Prime Financial Markets and establishes presence in Africa
Ebury acquires South Africa-based firm specialising in advisory & intermediary services in treasury and financial markets space
The US dollar rallied against most currencies last week after a hawkish policy announcement from the Federal Reserve.
The US dollar broke to its strongest position against its major peers so far in 2022 on Wednesday evening, after the FOMC delivered a hawkish message following its January meeting.
The main focal point of the week in the currency market is almost upon us, with the Federal Reserve set to announce its latest policy decision later today.
Trading in financial markets in the past 24 hours or so can very much be described as ‘risk off’, with a deterioration in risk appetite causing market participants to flee higher risk investments.
Last week saw the continuation of an interesting theme, in which emerging market currencies continue to hold their own even as stock markets in developed countries are shaken by bouts of risk aversion.
Investor expectations for the pace and timing of Federal Reserve interest rate hikes has been the main talking point in financial markets so far this year.
Most major currencies have traded within relatively narrow ranges versus the dollar in the past couple of trading sessions, as the scorching move higher in US yields pauses for breath and investors patiently await next week’s FOMC meeting.
The pound rose to its strongest position versus the common currency since February 2020 on Wednesday after data showed that UK inflation jumped to its fastest pace in 30 years in December.