The Japanese yen posted its first daily drop against the U.S. dollar after 5 days of gains as the Japans Finance Minister said that the currency intervention will be used if needed to keep the yen from the excessive appreciating. Finance Minister Shōichi Nakagawa said today that the Bank of Japan will use the currency intervention for the first time in the last four … “Yen Down on Intervention Concerns”
Author: admin_mm
Aussie Reaches 2-Month High versus Dollar
The Australian dollar rose slightly against the U.S. dollar and reached a new 2-month high level today as the dollar still suffers from the near zero interest rates set yesterday by the Federal Open Market Committee. The Australian currency rallied by the most since October after the Fed announced the rate cut yesterday and the global stock markets reacted … “Aussie Reaches 2-Month High versus Dollar”
Chilean Peso Strengthens on Dollar Weakness
The Chilean currency appreciated to its monthly high against the U.S. dollar yesterday, as the greenback experienced a downfall against the high-yielding currencies and the peso performed better than the other regional currencies. Yesterdays growth of EUR/USD and GBP/USD allowed some of the emerging markets currencies to restore some of their value against the dollar. The Chilean peso was among such currencies and, … “Chilean Peso Strengthens on Dollar Weakness”
Dollar Down before Fed Rate Deciosion
The U.S. dollar continued to go down today against the euro and the yen as the traders expect a rate cutting decision from the Federal Reserve and the bailout of the U.S. automakers. While both interest rate cut and the bailout of the countrys biggest car-making companies are the positive factors for the whole U.S. economy, they are certainly hurting the U.S. … “Dollar Down before Fed Rate Deciosion”
Yen at Century High as Carmakers Bailout Fail
The stock markets fell down greatly today pushing the Japanese yen up to its highest level since mid 90s against the U.S. dollar and the Great Britain pound as the GM and Chrysler chances to survive narrowed after the U.S. lawmakers failed to approve the bailout plan. Unlike previous trading sessions, where the yen moved in a unison with the U.S. dollar as both were … “Yen at Century High as Carmakers Bailout Fail”
Dollar Near 2-Month Low vs. Euro
The U.S. dollar dropped to the weakest level during the last 6 weeks against the European currency as the worlds stock markets rallied despite the delay in the U.S. automakers bail-out. As it has become known yesterday, the $14 billion bail-out plan to rescue the General Motors Corp., and Chrysler LLC is likely to not get voted for by the Republican party in the U. S. Senate. The dollar declined … “Dollar Near 2-Month Low vs. Euro”
Yen Stops Growth on Stock Markets Optimism
The Japanese yen is showing another negative trading day this week as the currency traders follow the stock market optimism and buy the currencies associated with the high risk and yield. The yen fell against the Australian and New Zealand dollars (its traditional carry trade counterparts) as the U.S. government and lawmakers are ready to bailout the Detroit automakers, … “Yen Stops Growth on Stock Markets Optimism”
AUD Falls on Weak Business Confidence
The Australian dollar declined today against the U.S. dollar and the Japanese yen as the countrys stock markets fell after the report on the November business confidence came out showing the record low reading for the index. The Aussie is also under pressure from the high-yielding assets correction after the yesterdays growth. The New Zealand dollar, which often trades in a strong … “AUD Falls on Weak Business Confidence”
Yen Drops as Stock Markets Rally
The Japanese yen went down rapidly against the other currencies today as the European and Asian stock markets rallied on expectations for the effect from the global anti-crisis measures. The bail-out of the Detroit automakers has been almost approved in U.S. and that induces some hopes for the crisis easing in the near future. Better financial conditions benefit such currencies … “Yen Drops as Stock Markets Rally”
Deteriorating oil prices should weaken Yen
The Japanese Yen has gained a lot of ground in the past few months. The Yen became stronger when the US dollar lost ground to other currencies, and got even stronger when the dollar strengthened against these currencies. Currently, 1 US dollar is worth only 92.71 Yen. This valuation is at a very low point … “Deteriorating oil prices should weaken Yen”