“Letting losses run is the most serious mistake made by most investors.”
USD
EUR/USD
The Shared currency nosedived to $1.1217 after the Federal Reserve, in its latest policy update, signaled it is likely to raise US interest rates in March and reaffirmed plans to end its bond purchases that month before launching a significant reduction in its assets holdings.
GBP/USD
The Cable extended the previous day's losses to $1.3430 amid broad US dollar gains post-Fed meeting and worsening Brexit and political conditions in the UK. Discussion about overcoming the deadlock concerning Northern Ireland protocol back on the table.
USD/JPY
The Japanese Yen hammered to 114.78 as US T-bond yields printed heaviest daily jump in three weeks after Fed matched upbeat market expectations. Market awaits US GDP data later during the day.
AUD/USD
With the post-Fed risk aversion in full steam, AUD/USD posted the biggest daily fall in a week to $0.7065, together with fears of China's financial market crackdown due to Evergrande also weighed on the currency. China's slowest industrial profit growth also added further weakness to the pair.
USD/CAD
The Canadian dollar plunged to 1.2700 against the greenback on Thursday after The Bank of Canada surprised some investors by leaving interest rates on hold, offsetting support for the currency from higher oil prices.
USD/ZAR
The rand lost ground to 15.38 versus the greenback after the Fed policy meeting yesterday. The market widely expects the South African Reserve Bank to raise rates today at its first policy meeting of 2022.
USD/MUR
The dollar-rupee pushed higher to 43.85 (Selling) on the local market.
17:30 - USD - Continuous Claim
17:30 - USD - Gross Domestic product
