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On the evening of November 13 at 21:15 Moscow time, a report emerged that the Bank of Japan is conducting interventions in the yen. These are direct operations by the regulator in the foreign exchange market, where the central bank itself buys the national currency to stop its weakening.
On November 9, the U.S. Commodity Futures Trading Commission (CFTC, the regulator of the futures and forex market) banned eight Americans from working in the industry: they brought U.S. retail traders to unlicensed offshore brokers. Clients deposited about $391 million with the four brands.
On Thursday, November 5, the Japanese yen became the strongest currency of the day: money fled from US tech stocks into it, and the Bank of Japan's minutes added to expectations of a December rate hike.
Ante Zigman, a member of the ECB Governing Council (the body that actually decides on the rate), said in comments to Bloomberg that the chance of another hike at the December meeting is high. The euro barely reacted to this: EUR/USD traded around 1.1220, slightly below the day's levels.
On Friday the euro broke below the March 2025 levels against the British pound: the EUR/GBP pair touched 0.8336, a 19-month low. Strong eurozone economic data failed to convince the market, while the pound is rising on expectations that the Bank of England will raise rates as early as next week.
EUR/USD on Monday touched 1.1350 - its lowest level since late July. The reason: ECB chief Christine Lagarde signaled that the regulator is in no hurry to raise rates, even though the market had bet on the opposite.
