The dollar fell today versus several higher-yielding currencies after speculations from Fed key-members suggested that interest rates in the country may remain at a record low for an extended period, declining attractiveness for the U.S. currency since investors can opt for higher returns in assets overseas. After Federal Reserve Bank of St. Louis President James Bullard affirmed that interest rates in the United States may not start to be hiked … “Dollar Down on Interest Rates Speculations”
Month: November 2009
Pound Down on Policy Makers Disagreement
The British currency went down today versus the euro and the dollar as a statement regarding a policy makers meeting yesterday indicated divergent opinions concerning the asset-purchase program, declining attractiveness for the pound as the central bank has not found a point of consensus towards the future of the U.K.’s monetary policy. After several days gaining versus major currencies, the pound’s rally was halted today after Bank of England‘s meeting minutes discussions were published, … “Pound Down on Policy Makers Disagreement”
Swedish Krona Posts Biggest Fall in 2 Weeks
After the IMF statements regarding a slower than expected global economic recovery, the Swedish krona posted an intense decline versus the U.S. dollar, as traders opted for safety in a rather turbulent trading session. Several worse than expected U.S. economic reports were published today, declining attractiveness for currencies like the Swedish krona, as the country is relying on a faster economic recovery to save its banking system, which is highly attached … “Swedish Krona Posts Biggest Fall in 2 Weeks”
Chilean Peso Remains Bullish on Central Bank Statement
The Chilean currency managed once again to break a record this Tuesday after the nation’s central bank confirmed that it will remain the interest rates in the country at a record low for the next semester, improving demand for peso-priced assets. The peso has been having a more than great week as virtually all domestic and international events favored the Chilean currency. Apart from the national central bank statement regarding low interest rates, … “Chilean Peso Remains Bullish on Central Bank Statement”
Pound Hits Record High on U.K.’s Economic Rebirth
The pound gained versus multiple currencies today and touched the highest rate in 2 months versus its main rival, the euro, as Bank of England officials affirmed that growth is returning to U.K.’s economic outlook and stimulus measures will be lifted on a foreseeable future. London stocks had a very positive performance today attracting traders to bet on pound-priced assets after the Office for National Statistics posted a report that indicated an increase … “Pound Hits Record High on U.K.’s Economic Rebirth”
Dollar Rises on Low Optimism Session
The U.S. dollar gained massively versus the euro and most of the 16 main traded currencies as risk aversion rose sharply in the beginning of the day as the IMF stated that the global economic recovery will be sluggish, attracting traders to the safety of the greenback. After the International Monetary Fund statement today affirming that the economic rebound will be a slow and complicated process, the U.S. dollar found grounds to rise significantly together with the Japanese yen, … “Dollar Rises on Low Optimism Session”
Chilean Peso Breaks Another Record on Copper Rise
The main Chilean metallic export provided support for the peso to reach the highest level in 16 months versus the greenback as demand for copper is on the rise after global economies showed further signs of recovery this Monday. Risk appetite in trading markets remained high this Monday after Japan posted a higher than expected quarterly growth, raising attractiveness for emergent markets assets and providing support for the peso to establish another record high … “Chilean Peso Breaks Another Record on Copper Rise”
Growth Forecast Sets Brazilian Real High
The Brazilian real benefited today from positive events in both domestic and international spheres as risk appetite rose worldwide, maintaining the Brazilian currency as the best performing currency among the main traded in foreign-exchange markets in 2009. Brazilian and global stocks rose today after the Japanese currency posted a higher than expected growth and a the majority of analysts agree that the South American economy will expand more than previously imagined in 2010, forcing … “Growth Forecast Sets Brazilian Real High”
Bullish Week Start for Canadian Dollar on Stocks
The Canadian dollar continued its previous week rally this Monday as risk appetite remained strong globally, increasing demand for Canadian commodity exports and creating an attractive scenario in Toronto equities markets, as appeal for safety declined, forcing the greenback down. The Asia-Pacific Economic Cooperation forum agreed that stimulus for economies to become more solid should remain for a certain amount of time, which caused risk appetite to rise this Monday, … “Bullish Week Start for Canadian Dollar on Stocks”
Japan Growth Force Greenback Down
The U.S. dollar started this week losing versus its Canadian counterpart and the euro as the wealthiest economy in Asia posted an unexpected quarterly growth, signaling traders that economic conditions in Asia are improving driving capital flows towards high-yielding options. The U.S. currency had a poor performance this Monday after the Japanese economy posted a preliminary gross domestic product growth of 1.2 percent for this year’s third quarter, a much … “Japan Growth Force Greenback Down”