Alpari Experts Unveil FX Trends in 2023, Inflationary Impacts, and Currency Strengths

Last Updated on: 21st November 2023, 10:40 pm

Alpari’s team of expert market analysts have revealed their outlook on the current trends in the FX market in 2023, highlighting the potential for investment in currencies such as the Pound Sterling (GBP) and Swiss Franc (CHF).

Commenting on the importance of keeping up to date with the Forex markets, the team said: “The global forex market, which trades 24 hours a day, five days a week, presents many opportunities for traders of varying experience levels. Currencies react to a plethora of factors, including economic data announcements, central bank actions, and even global catastrophes. As the prices of FX pairs move, traders can seize on the volatility for the chance at profits, provided the trader has the required skills and knowledge to take advantage of such an opportunity.”

The analysts predicted that central European currencies will continue to perform well, with the Pound Sterling (GBP) and Swiss Franc (CHF) expected to rise. They also noted that the ‘major’ consistent currencies of GBP, JPY, USD, and EUR remain favourites with traders due to the size of each economy.

Inflationary pressures across much of the globe have caused an increase in central bank interest rates, which Alpari’s outlook suggests could strengthen the USD and GBP in the future.

The team also made their predictions for the Japanese yen (JPY), which has remained weak since the peak of the Covid-19 pandemic in 2020. According to the analysts, the Japanese yen has recorded the second-lowest increase against the US Dollar among all G10 currencies, with the USD/JPY pairing having climbed by just 5.9% so far in 2023. This is largely due to the new Governor of the Bank of Japan not making the expected changes to policies that were hoped for by the FX markets.

Overall, Alpari’s experts advise traders to keep an eye on trends and research countries’ economical situations before investing in a specific currency.

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