020 7898 0500Thursday saw better-than-expected Swedish inflation growth, allowing the krona to advance versus many of its peers thanks to renewed speculation that the central bank will avoid easing monetary policy further.
The Norwegian Krone also posted marked gains recently thanks to rising crude oil prices amid hopes of a production freeze agreement between Saudi Arabia and Russia. The Canadian and Australian dollars, as well as some of the other commodity-reliant economies also posted gains.
The Monetary Authority of Singapore reverted back to a policy of zero appreciation for its currency for the first time since the financial crisis in 2008. As a result, Singapore’s dollar retreat 0.89% to 0.7338 versus the US dollar, and acted as a drag on currencies from throughout the region in their respective crosses against the dollar, such as Indonesia’s rupiah or Malaysia ringgit.
Today’s Chinese growth data. Released overnight, met expecations.
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