Yesterdayâs triumph of the currencies against the Japanese yen didnât last too long. Today yen soared up to the two-week high against the euro and the Great Britain pound on the bearish stock market trading session. Yen also rose against U.S., Australian and New Zealand dollars, but didnât exit the medium-term bullish trend on the latter two. USD/JPY is going sideways on Forex for almost 3 weeks now. The Japanese yen also posted significant gains against the emerging marketsâ … “Yen at Two-Week High against Pound, Euro”
Month: February 2008
Yen Falls against High-Yeilders
Japanese yen continued to fall against other currencies today during the Asian session after the Reserve Bank of Australia lifted its interest rate to the historically high value â 7.00%. Investors sought to gain interest-based profits on such currency pairs as AUD/JPY, NZD/JPY and GBP/JPY, while the economy recession risks were slightly pulled back by the recent Fedâs rate cuts. Many Forex traders moved out of the carry trade positions after the global … “Yen Falls against High-Yeilders”
Australian Dollar Continues Gain against U.S. Dollar
Today during the Asian trading session on Forex Australian dollar continued its bullish trend against the U.S. dollar and reached the new maximum value since 14th of November, 2007. This gain follows up the previous week of growth on AUD/USD, which has yielded more than 2.7% rise to the Aussie. The driver of the todayâs growth is the widely spread speculation that the Reserve Bank of Australia will go for the rate increase tomorrow. If the interest rate in Australia will … “Australian Dollar Continues Gain against U.S. Dollar”
Polish Zloty Gains for Second Week
The rising interest rates difference between the U.S. and Poland stimulated the second week of Polish zlotyâs growth against the U.S. dollar. While the U.S. government and Federal Reserve remain concerned with the the rising recession risks, the Polish government and monetary authorities aim towards the inflation slowing. After it became known on Friday that the inflation in Poland reached the upper limit of the target level, investors became more confident in that the National Bank of Poland will … “Polish Zloty Gains for Second Week”
Canadian Dollar Grows on Improving Conjuncture
Canadian dollar rose this week again, after its sharp turn back from the long-term growth to the depreciation against the U.S. dollar. This growth was predated by the signs that the U.S. economy wonât be heading into recession soon. Canada is heavily relying on its commodities export and the possible weakening of its major consumer pressed significantly on the national currency. While the U.S. dollar was losing against all … “Canadian Dollar Grows on Improving Conjuncture”
AUD, NZD Going for 5th Daily Gain
Today both the Australian and New Zealand dollars continued their daily growth against their counterpart from the United States on willingness of the Forex traders to earn from the interest rates difference. Two days ago Federal Reserve lowered its benchmark interest rate by 50 basis points to 3.00%, widening the gap between the record high interest rate in New Zealand. Australia remains one of those countries that may decide to rise … “AUD, NZD Going for 5th Daily Gain”