The Japanese yen rose slightly today after losing for the two days on the currency trading market as the U.S. bail-out plans failed to raise the confidence in the high-yielding assets, favoring the yen as the safe-haven currency. Investors has hoped that the part of the $700 billion plan proposed by the U.S. Treasury Secretary Henry Paulson would go to the car manufacturers (GM, Ford … “Yen Gains After Two Days of Decline”
Month: November 2008
Singapore Choose to Depreciate Its Currency
Singapore dollar declined for the sixth day against they U.S. dollar today as the countrys monetary authorities will probably use the weak national currency as a stimulus for the export-producing economy. All major worlds central banks reduced their target interest rates earlier to fight the financial crisis. The Monetary Authority of Singapore may devalue SGD against the basket of foreign currencies in order to revive … “Singapore Choose to Depreciate Its Currency”
Japan Enters Recession, Yen Tumbles
The Japanese yen declined against the other currencies today after opening with a positive weekly gap as the worlds third largest economy contracted for the two consecutive quarters according to the Japans government. The Gross domestic product (GDP) decreased 0.1 percent in the third quarter of 2008 according to the preliminary report by Japans Economic and Social Research Institute. This contraction followed 0.9 percent decline of GDP in the second … “Japan Enters Recession, Yen Tumbles”
Yen Gains after One Corrective Session
The Japanese yen rose against the U.S. dollar, the euro and the pound today after posting a huge loss yesterday and the traders reviewed their outlook of the global recession process. The Group of 20 nations summit is starting today at Washington, U.S. It will try to come up with the decision aimed toward the global financial crisis and protecting the nations from the … “Yen Gains after One Corrective Session”
Pound Stops Below $1.5 as Recession Blooms
The Great Britain pound continued to trade below the psychologically and technically important level of $1.5 per pound for the second day today as the recession continued to show up at its worst in Europe and the U.S. rescue plans changed. The pound went down below the $1.5 rate yesterday — for the first time since June 2002. It now continues to trade below that level, but … “Pound Stops Below $1.5 as Recession Blooms”
Yen Declines as Borrowing Costs Fall
The Japanese yen fell against the U.S. dollar and the other major currencies today after the money-market lending conditions eased and the traders expect a positive opening from the U.S. stock market judging from the current futures trading. Apart from the three other major currencies, the yen posted a daily drop against its usual carry trade counterparts — … “Yen Declines as Borrowing Costs Fall”
Pound Declines on the Lowest Home Sales
The Great Britain pound continued to fall today against the other major currencies after reaching the all-time low against the euro as the home sales report showed the lowest level in the last 30 years. The Royal Institution of Chartered Surveyors released its October issue of the U.K. real estate market survey. It showed that the quarterly number of completed sales per surveyor … “Pound Declines on the Lowest Home Sales”
Aussie, Kiwi Rise on China’s Stimulus Plan
The Australian and New Zealand dollars rose against the U.S. dollar and the Japanese Yen compared to the last Fridays close levels as the China said that the government will provide $586 billion of liquidity help to the national economy. The Aussie and Kiwi opened with a huge weekly gap against the dollar and the yen after the news that the Chinese … “Aussie, Kiwi Rise on China’s Stimulus Plan”
Dollar Falls Before Employment Report
The U.S. dollar declined against the euro and the British pound as the traders expect that the release of the important employment data from U.S. will show the worst contraction since 2003 today. After two days of falling against the Japanese yen, the U.S. currency is currently standing almost unchanged after losing somewhat during the Asian trading session. The bad … “Dollar Falls Before Employment Report”
Banks Slash Rates; Pound, Euro, Franc Drop
The Europes currencies posted a daily drop against the U.S. dollar after showing a moderate volatility during the early trading session after the regional central banks cut the interest rates at an unexpectedly large scale. An increased volatility on the Forex market was the direct reaction to the series of the interest cuts performed by the central banks of the United Kingdom, Eurozone and Switzerland today. … “Banks Slash Rates; Pound, Euro, Franc Drop”