As inflation reached record levels across much of the developed world in April, it’s looking more likely that many central banks could follow the Federal Reserve’s hawkish turn. Accordingly, the values of several key Forex pairs could be set for a shift.
Against the yen, the USD hit a day-high of as much as 2.5% on Monday, reaching its highest level since August 2015, and being the largest 1-day soar since March 2020.
The Turkish lira fell to a new all-time low, as investors sold off the currency after President Erodgan threatened expulsion against the ambassadors of 10 countries, including the U.S. and Germany, for demanding he releases political prisoners.
