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Global currencies experienced significant declines on Wednesday as the U.S. dollar soared, spurred by the detention of President Erdogan's main political opponent in Turkey. This geopolitical move unsettled investors and sent the Turkish lira to unprecedented lows, prompting a noticeable shift towards safer assets.The ensuing drop in Turkey's lira reverberated through financial markets, impacting major currencies and spurring capital flows into the dollar. The euro, yen, and other currencies saw declines, while investors kept a close eye on the Federal Reserve's impending decision regarding interest rates.Market analysts, including Michael...

The stock market has fallen fast over the past month. Business and consumer sentiment is souring, and investors are afraid that economic data will soon start to show deeper cracks.The question on Wednesday: Will the Federal Reserve also express concern about the path ahead?So far, Fed officials have largely avoided commenting on an uncertain outlook while current economic data remain solid. A healthy labor market has allowed the central bank to continue to point to economic resilience as it holds interest rates high in response to stubborn inflation.But in addition...

On Monday, the dollar hovered near a five-month low against major currencies as President Donald Trump's erratic trade policies and soft economic data took their toll. The euro, benefiting from domestic drivers, is faring better, last recorded at $1.0876. Despite slight dips, it's close to hitting its highest point since October 11.Similarly, the Japanese yen witnessed softness at 148.94 per dollar but remains stronger having recently peaked in five months. These movements have driven the dollar index, which tracks the U.S. currency against six major counterparts, to linger just...

The U.S. dollar faced a decline against the Japanese yen on Monday, driven by fears of an economic slowdown and ongoing uncertainty concerning the Trump administration's trade policies. Investors' mounting concerns were compounded by a notable selloff on Wall Street.While the greenback faltered against the yen, it showed resilience by strengthening against currencies like the euro, Swiss franc, and sterling, as traders took profits from recent currency gains. Meanwhile, Wall Street noted a steep decline, with a significant drop in the Nasdaq as tech sectors suffered.Interest rate movements were...