Today the U.S. dollar continued to head for its second monthly gain against such currencies as the euro and the Japanese yen as the countrys economical situation showed some improvement over the recent weeks. The second month of growth against the yen can be attributed to both carry trade uprise that has been seen during the last weeks on Forex and the expectations … “Dollar Heads for Second Monthly Gain”
Month: May 2008
Dollar Sees a Third Day of Growth
The U.S. dollar rose today to highest against the euro since May 20 as the Federal Reserve Bank of Dallas President Richard Fisher said that the interest rate increase is possible on elevated inflation fears. The U. S. currency also continued to rise against the Japanese yen today, as the latter has been falling against the other major currencies on carry trade uprise. The dollar … “Dollar Sees a Third Day of Growth”
Rupee Rose on Earning Conversion
The Indian rupee rose today as the exporters had to convert their overseas earnings after the Indias currency has been losing significantly to the U.S. dollar in May. The rupee recovered from two days of losses this week as the oil continued to drop today, easing the concerns that the commodity importers will have to sell even more rupees for dollars. On the other hand, … “Rupee Rose on Earning Conversion”
Yen Falls against Carry Trade Counterparts
The Japanese yen extended its decline against its traditional carry trade counterparts today as the Asian stock markets soared after the U. S. Memorial Day holiday ended. Yen dropped significantly against the Australian and New Zealand dollars (the favorite high-yielders that usually gain the most form the carry trade popularity) today after the financial market rally in Asia showed … “Yen Falls against Carry Trade Counterparts”
Yuan at Highest Level since End of Peg
The Chinese yuan rose to the highest rate against the U.S. dollar since the scrapping of the peg in 2005 as the investors expected China to quicken yuan gains in order to cut the inflation growth. The Chinas short-term bonds fell today as their yields rose on speculation that the Peoples Bank of China will increase interest rates. The Chinese currency appreciated by 5.3 percent against the U.S. dollar this … “Yuan at Highest Level since End of Peg”
Rupee to Gain 9% This Year on Higher Rates
Fortis Bank analysts expect Indian currency to rise 9 percent by the end of this year as the Reserve Bank of India will have to increase interest rates to fight the accelerating inflation growth. Indias currency is currently the second worst performing among ten most-traded Asian currencies (excluding the Japanese yen) this year. Yesterday it reached its lowest rate against U.S. dollar in 13 months. Reserve Bank of India … “Rupee to Gain 9% This Year on Higher Rates”
New Zealand Dollar Grows on Taxes Cut
The New Zealand dollar rose today against all other major currencies at a fastest pace in months as the Finance Minister Michael Cullen cut the income tax supporting the national economy. Kiwi (a nickname for the New Zealands currency) climbed today for a third consecutive day against the U.S. dollar its biggest gain since late February as the investors favored high-yielding local bonds over … “New Zealand Dollar Grows on Taxes Cut”
Yen Rises as Carry Trade Suffers
The Japanese currency rose today on Forex during the Asian trading session as the stocks market drop spurred carry trade sell-offs and the liquidation of the yen-based high-risk assets. The yen gained against Great Britain pound, U.S. and Australian dollars, while remaining relatively weak against the euro today. German Ifo report on business climate in the country was released today … “Yen Rises as Carry Trade Suffers”
Dollar Declines on IMF Statement
The U.S. dollar declined today against other major currencies as the International Monetary Fund stated that there are still serious risks to the global financial market connected with the U.S. real estate crisis. Most significantly dollar fell against euro, pound, yen and Australian dollar. Apart from the IMF statement, markets await the PPI report in U.S. today to show … “Dollar Declines on IMF Statement”
Chinese Yuan Rose on Dollar’s Decline
The Chinese yuan continued its record breaking growth against the U.S. dollar after a month-long pause today and rose to a new maximum level since the scrapping of the yuan-dollar peg in 2005. Chinas currency appreciated today as the U. S. Treasury Undersecretary David McCormick urged countrys authorities to further strengthen the yuan at a fast pace, while the U.S. dollar remained weak on Forex after a major downfall last … “Chinese Yuan Rose on Dollar’s Decline”