The U.S. dollar strengthened its position against the euro and the British pound as the investors believe that Barack Obamas clear victory in the U.S. presidential elections will help him to take measures soon to revive the worlds biggest economy. The news that the Democrat Barack Obama won the presidency over its Republican rival John McCain created the main positive background … “Dollar Gains After Obama Takes Presidency”
Month: November 2008
Aussie Declines After Interest Rate Cut
The Australian dollar reversed its yesterday gains versus the U.S. dollar and the yen after the Reserve Bank of Australia announced its decision to reduce the target cash rate today. The Australian currency was falling significantly against the greenback and the Japanese yen during the Asian trading session, immediately after the countrys central bank cut the interest rate … “Aussie Declines After Interest Rate Cut”
Pound Gains on Stock Market Optimism
The Great Britain pound gained today against the other major currencies as the growth on the global stock markets spurred optimism and the high-yielding pound showed a stronger reaction to this uprise. The British currency was among the worst performers of the last two months when the credit crunch went deep into the global economy. The United Kingdom has one … “Pound Gains on Stock Market Optimism”