Golden Ten Data Compilation: Daily Global forex Market Highlights Express (July 24)

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  1. The US dollar fell below the 155 level against the Japanese yen for the first time since mid-March, breaking the 100-day DMA. The unwinding of global carry trades intensified with the pump of the yen. 2. Trader: The Reserve Bank of India may sell US dollars to support the rupee within the exchange rate range of 83.70-83.72. 3. The European Central Bank is considering halving the leverage reserve requirement to about 700 million euros. 4. The Central Bank of the Philippines: Suspended trading and currency operations in the US dollar/Philippine peso today. 5. Czech Central Bank Governor: Lowering the interest rate by 25 basis points is a good starting point for discussion. It is expected that the interest rate at the end of the year will be below 4%, which means a 25 basis point interest rate cut at each meeting is a realistic prospect. 6. The Central Bank of Turkey maintained the benchmark interest rate at 50%, in line with expectations. It will maintain a tight monetary policy until a significant and sustained decline in monthly inflation is observed. 7. Sri Lanka lowered the benchmark lending interest rate from 9.50% to 9.25% and the deposit interest rate from 8.50% to 8.25%. 8. The Central Bank of Nigeria raised the benchmark lending interest rate to 26.75%. 9. The Central Bank of Hungary lowered the benchmark interest rate by 25 basis points to 6.75%, as expected. Vice Governor of the Central Bank of Hungary, Virag: It is realistic for the market to expect 1-2 more interest rate cuts this year. 10. According to the Financial Times, the European Union will discuss a proposal to freeze assets of the Central Bank of Russia.
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