The Chinese yuan rose to the highest rate against the U.S. dollar since the scrapping of the peg in 2005 as the investors expected China to quicken yuan gains in order to cut the inflation growth. The Chinas short-term bonds fell today as their yields rose on speculation that the Peoples Bank of China will increase interest rates. The Chinese currency appreciated by 5.3 percent against the U.S. dollar this … “Yuan at Highest Level since End of Peg”
Author: admin_mm
Rupee to Gain 9% This Year on Higher Rates
Fortis Bank analysts expect Indian currency to rise 9 percent by the end of this year as the Reserve Bank of India will have to increase interest rates to fight the accelerating inflation growth. Indias currency is currently the second worst performing among ten most-traded Asian currencies (excluding the Japanese yen) this year. Yesterday it reached its lowest rate against U.S. dollar in 13 months. Reserve Bank of India … “Rupee to Gain 9% This Year on Higher Rates”
New Zealand Dollar Grows on Taxes Cut
The New Zealand dollar rose today against all other major currencies at a fastest pace in months as the Finance Minister Michael Cullen cut the income tax supporting the national economy. Kiwi (a nickname for the New Zealands currency) climbed today for a third consecutive day against the U.S. dollar its biggest gain since late February as the investors favored high-yielding local bonds over … “New Zealand Dollar Grows on Taxes Cut”
Yen Rises as Carry Trade Suffers
The Japanese currency rose today on Forex during the Asian trading session as the stocks market drop spurred carry trade sell-offs and the liquidation of the yen-based high-risk assets. The yen gained against Great Britain pound, U.S. and Australian dollars, while remaining relatively weak against the euro today. German Ifo report on business climate in the country was released today … “Yen Rises as Carry Trade Suffers”
Dollar Declines on IMF Statement
The U.S. dollar declined today against other major currencies as the International Monetary Fund stated that there are still serious risks to the global financial market connected with the U.S. real estate crisis. Most significantly dollar fell against euro, pound, yen and Australian dollar. Apart from the IMF statement, markets await the PPI report in U.S. today to show … “Dollar Declines on IMF Statement”
Chinese Yuan Rose on Dollar’s Decline
The Chinese yuan continued its record breaking growth against the U.S. dollar after a month-long pause today and rose to a new maximum level since the scrapping of the yuan-dollar peg in 2005. Chinas currency appreciated today as the U. S. Treasury Undersecretary David McCormick urged countrys authorities to further strengthen the yuan at a fast pace, while the U.S. dollar remained weak on Forex after a major downfall last … “Chinese Yuan Rose on Dollar’s Decline”
Asian Currencies Fell on High Oil Costs
The Asian currencies fell this week as the oil prices surged and the rising inflation concerns forced foreign investors to cut the inflow of liquidity into this region. Indian rupee and Malaysian ringgit led the seven out of the ten most traded Asian currencies (excluding the Japanese yen) that dropped after the Federal Reserve representatives stated that the high inflation becomes a real challenge as the oil prices rose to the new historical maximum. Recent … “Asian Currencies Fell on High Oil Costs”
Yen Continues Growth after GDP Report
The Japanese yen continued its growth today after the late yesterday release of the GDP report showed that the gross domestic product rose much better than everyone expected. Japans economy gained 0.8 percent in the first quarter of 2008 compared to the fourth quarter of 2007 and in a year-to-year comparison it expanded by the astonishing 3.3 percent as the exports to emerging markets helped growth during the global financial crisis. … “Yen Continues Growth after GDP Report”
Kiwi Falls Deeper on Bad Retail Sales
The New Zealands currency continued its extremely fast drop against the other major currencies today after the retail sales report was released yesterday at 22:45 GMT. It was a third day of a bearish trend for the New Zealand dollar (at least against the U.S. dollar) as it continued the fall thats lasting from mid March 2008 when kiwi (a nickname for NZD) reached its historical maximum against … “Kiwi Falls Deeper on Bad Retail Sales”
Euro Stronger on German GDP
The United Europes currency gained a new strength on the Forex market today after the German quarterly GDP data was released and the investors got more confidence in the ECBs hawkish stance. According to a report that was released today at 6:00 GMT the Germanys gross domestic product gained 1.5% in a quarter-to-quarter comparison in the first quarter of 2008 a strongest growth for the GDP indicator since 1996. This … “Euro Stronger on German GDP”