The U.S. currency started this week losing versus the euro and several high-yielding currencies as the United Arab Emirates central bank affirmed that it will guarantee payments delayed by the state-owned investment company Dubai World, shunning speculations that a new wave of negative events would be unleashed. A number of factors brought the dollar down this Monday in foreign-exchange markets after Abu Dhabi’s central bank stated that it … “Dollar Down as Risk Appetite Returns”
Author: admin_mm
Pound Posts Weak Performance on Growth Outlook
The Pound reverted a winning trend in the beginning of the week to plunge and lose versus most of the majors towards Friday’s session end, as stocks and commodities fell globally decreasing attractiveness for the U.K.’s currency, which is also facing a downgrade in its GDP forecasts figures. When Dubai World, a state-owned investment company, affirmed in the middle of the week that it would reschedule its debt payments, equities around the world dropped sharply and the pound lost … “Pound Posts Weak Performance on Growth Outlook”
Brazil’s Real Down on Dubai World Debt
The Brazilian currency was one of the multiple affected by a Dubai debt payment delay, setting the emergent market real to the third consecutive losing week versus the greenback. Dubai World, a government owned investment company affirmed yesterday that its debt payments will be delayed, causing a risk off session today in currency markets, affecting mostly commodity exporter and emergent markets currency, forcing the real down as it fall in both … “Brazil’s Real Down on Dubai World Debt”
Ruble Declines as Russian Officials See Opportunity
After Dubai affirmed that it will delay its debt payments, emergent markets currencies like the Russian ruble rated among the most affected, but central bankers affirm that this decline will help exporters’ competitiveness, treating the event with an odd optimism. The current strength of the Russian currency was already impacting national companies, mainly commodity exporters, and a wave of pessimism started as Dubai affirmed it will … “Ruble Declines as Russian Officials See Opportunity”
Yen’s Rally Raises BOJ Concerns
After the yen touched a 14-year high this week versus the greenback as the Bank of Japan did not discussed the currency fluctuations, finally concerns emerged, as the current levels could be high enough to hurt the Japanese economy and its recovery process. The Japanese yen, influenced by several factors, touched the highest rate in more than a decade versus the U.S. dollar this week, and finally Japanese Finance Minister Hirohisa Fujii informed that … “Yen’s Rally Raises BOJ Concerns”
Dubai Debt Makes Another Victim: Canadian Dollar
The Canadian dollar, which gained sharply versus the greenback on the beginning of the week, plunged since yesterday as Dubai World, a government owned investment company is trying to delay its debts payments, bringing risk aversion to high levels in foreign-exchange markets. Optimism in markets declined since Dubai tried to reschedule its debts payments, affecting risk appetite and specially commodities and stocks throughout the world, which are highly influential for the Canadian dollar’s … “Dubai Debt Makes Another Victim: Canadian Dollar”
South African Rand Down on Commodities, Dubai Debt
TAfter Dubai announced that it intends to delay debt payments, emergent markets and commodities fell worldwide, declining attractiveness for the South African currency in foreign-exchange markets this Thursday. Emergent markets were the most affected today after Dubai World, the nation’s investment company affirmed that debt payments will be delayed, setting confidence levels down among traders that preferred to opt by safer bets than those … “South African Rand Down on Commodities, Dubai Debt”
Hungarian Forint Down on Dubai Debt
The Hungarian currency had its sharpest fall in a month after Dubai announced that it’s likely to delay debt payments, declining attractiveness for emergent markets less appealing currencies in Central and Eastern Europe. After Dubai’s announcement that public debt payments will be delayed, currencies in Eastern Europe ranked among the most affected, as a domino effect is likely to affect currencies from countries with a high international debt … “Hungarian Forint Down on Dubai Debt”
Swiss Franc Down on Central Bank Speculations
After touching parity and gaining further versus the U.S. dollar, the Swiss franc declined today versus virtually all 16 main traded currencies, as speculations indicate that the national central bank sold the currency to halt its rally. The Swiss franc strength had already been focused by the Swiss National Bank during the past weeks since a strong currency could hurt exports performance, and yesterday, after the national currency … “Swiss Franc Down on Central Bank Speculations”
Yen on Decade Record High on BOJ Positions
The yen gained versus virtually all currencies as speculations indicate that further climbs for the Japanese currency will be accepted by the nation’s central bankers, setting the currency to the highest level in 14 years versus the greenback. The yen had extremely sharp gains today versus the euro, dollar and most of high-yielding currencies after Japanese Prime Minister Yukio Hatoyama affirmed that the current appreciation of the national currency is due a decline … “Yen on Decade Record High on BOJ Positions”