The euro rose today against the dollar and yen for the second day and for the third day against the Great Britain pound after the ECB policy makers signaled yesterday that there wont be any rate cuts in the Eurozone soon. Most notably European currency rose against the British pound as the latter fell to its four-month minimum levels on weak … “Euro Rose on ECB Rate Signals”
Month: August 2008
Yen Declines as Investors Buy Assets Abroad
The Japanese yen fell from its more than two weeks maximum against the U.S. dollar today as the Japanese investors sought to buy foreign assets after their currency advanced so much yesterday. The yen declined also against the euro and the Great Britain pound today after reaching a more than 3 months high against both of those currencies yesterday. There is a little … “Yen Declines as Investors Buy Assets Abroad”
Dollar Goes Down on Credit Market Losses
The U.S. dollar declined at a fastest pace in a month against the Japanese currency today as the credit market losses extended and the Federal Reserve probably wont be able to raise the rates by the years end. The dollar also fell against the euro and the Great Britain pound today as the previously expected rate difference decline became not so obvious to the Forex traders. Yens growth against … “Dollar Goes Down on Credit Market Losses”
Pound Fell vs. USD, Euro before BoE Minutes
The Great Britain pound traded lower before the Bank of Englands release of the monetary policy minutes today. After the release, pound continued to slide down against both the greenback and the euro. The U. K. currency continued to trade near a two-year low against the U.S. dollar today and fell for a third day against the euro as the minutes revealed that there was one vote for reducing the interest rates; 7 members including Governor Mervyn King voted … “Pound Fell vs. USD, Euro before BoE Minutes”
Pound Falls Against Dollar and Euro
The Great Britain pound fell almost to its recent 2-year low against the U.S. dollar today as the member of the Bank of England monetary policy committee forecasted that the inflation will become less of a problem by the end of 2009. The pound is currently dropping for the 13th day in a row — the longest losing streak since 1971. According to Tim Besley of BoE, the food … “Pound Falls Against Dollar and Euro”
Dollar Sees a Correction after 2-Week Rally
The U.S. dollar declined today during the Asian session against other major currencies as the traders realized their profit, closing out long positions, and turned down possibility of the rate increase until the end of the year. The U. S. currency retreated from the highest level against the Japanese yen since January 2. It also dropped from the highest against the … “Dollar Sees a Correction after 2-Week Rally”
Atlanta Fed Chief Prefers Current Rates
Dennis Lockhart, Federal Reserve Bank of Atlanta President, said that he prefers the current interest rate as the uncertainty regarding the growth and inflation prevails in U.S. He thinks that the rates will be kept unchanged at 2 percent during the next meetings until the end of the year. But debates about raising the rates may arose if the inflation continues to accelerate, said Lockhart in an interview … “Atlanta Fed Chief Prefers Current Rates”
China’s Yuan Heads for 4th Weekly Loss
The Chinese yuan is currently heading for its fourth weekly decline against the U.S. dollar for the first time since the end of the peg to dollar in 2005. The currency dropped just little more than 0.1 percent this week adding to a total of more than 0.7 percent in a losing streak lasting from July 18. The Chinese government is probably cooling down yuans appreciation to support the exports … “China’s Yuan Heads for 4th Weekly Loss”
Pound at New Record Low in Almost 2 Years
The Great Britain pound rose today against the U.S. dollar for the first time in the last 10 days after reaching a new bottom level since the mid October 2006. The expectations that the Bank of England will cut the interest rate at it next meeting rose after BoE reduced its economic growth forecast. Pound managed to lose more than 7.6 percent during … “Pound at New Record Low in Almost 2 Years”
Poland Needs to Adopt Euro More Urgently
According to Regional Development Minister of Poland Elzbieta Bienkowska, euro should be adopted as soon as possible because zlotys appreciation partially eliminates the value of the financial aid made by European Union and which is denominated in euro. There is also a concern about the damage to the economic growth that may be caused by the rapidly strengthening national currency. Bienkowska urged countrys financial authorities to accelerate the euro adoption process: Looking … “Poland Needs to Adopt Euro More Urgently”