THB-MYR-SGD trio strengthens against USD since beginning 2017. Philippine Peso weakest amongst major ASEAN currencies. Indonesian Rupiah looks ‘pegged’ to USD. Malaysian Ringgit weakening against SGD temporarily over.
9 Asian currency pairs that are rising in favour of US Dollar strengthening. They are tradable thru Axitrader MT4 or on the Singapore Exchange (futures).
IMF announces inclusion of the Chinese Renminbi to the SDR basket. There will be a new forex dynamic as funds re-allocate their foreign reserves.
Hong Kong Monetary Authority continues to intervene in currency markets in April to hold 7.75 line for USDHKD. We explain the move and link to related reports.
USDHKD price action is hugging 7.75 very closely. It is an outer limit of Hong Hong’s currency peg to the USD under the Linked Exchange Rate System. The pair made its deepest penetration to 7.74823 yesterday.
Stop loss orders can be filled at worse levels if liquidity is not available. This is a forex slippage. SNB’s decision was so big liquidity providers disappeared. Traders’ accounts can have unexpected losses.
CHF strengthens furiously following Swiss National Bank’s high impact surprise to stop Minimum Exchange Rate with Euro. From our favourite broker explaining why price feed froze “there was a massive drop in CHF due to their central bank removing a floor in the market so no pricing was received for a time”