The U.S. dollar went down to the new record low levels against the European and Japanese currencies today during the Asian trading session on Forex as the Federal Reserve cut the discount interest rate in emergency. The global financial crisis continued to press on the dollar even on weekend, when the destiny of the Bear Stearns was decided and the Federal Reserve cut … “Dollar at New Lows against Euro, Yen”
Author: admin_mm
EU Leaders Include Strong Euro Reference
European leaders decided to include the strong euro reference to their two-day Brussels meeting conclusion, which is to be released today. Earlier today, this conclusion was expected to come out without a notice about the fast appreciation of the euro against the U.S. dollar. But that point didnt please the French delegation including the president Nicolas Sarkozy. The French finance authorities started to insist on some … “EU Leaders Include Strong Euro Reference”
Yuan at Highest Rate since 2005
The Chinese yuan rose to its new highest rate against the U.S. dollar since the end of a currencys peg to the dollar in 2005. The dollar weakened on the international currency market this week as a lot of the disappointing macroeconomic statistics along with the Feds readiness to cut the interest rate pressed on the U.S. currency. Meanwhile high inflation rate in China pressed on the government for a faster … “Yuan at Highest Rate since 2005”
USD at Record Low against Euro, Yen
The U.S. dollar reached a new historical minimum against the euro today; it also fell below the 12-year old minimum level against the Japanese yen on the expectations of the more interest rate cuts from the Fed. The record on EUR/USD was broken yesterday when it reached 1.5571 after even Bushs speech about a strong national currency preference couldnt help combat the pessimistic expectations regarding … “USD at Record Low against Euro, Yen”
Rand Gains for a Fourth Day
The South African rand gained against the U.S. dollar for the fourth day today as the stock markets throughout the world were stimulated by the Federal Reserves decision to pump about $200 billion into the global banking system. The rand grew not only against the U.S. dollar, but most significantly against the low-yielding Asian currencies, as the investors favored high-risks assets … “Rand Gains for a Fourth Day”
Korean Won and Other Asian Currencies Down Today
Today the majority of the Asian currencies, including the South Korean won, fell down on the Forex market as the investors expected that the global financial turmoil will decrease the capital inflow into the emerging Asian economies. Even the Japanese yen declined today against the other major currencies today, almost reversing the yesterdays strong gain. The South Korean won … “Korean Won and Other Asian Currencies Down Today”
Canadian Dollar Slipped Down on Risk Concerns
The Canadian dollar dropped on Forex today, mainly against the U.S. dollar and the Japanese yen, as the investors favored less commodity-dependent currencies. Commodities fell down during the European session and continued to fall during the New York trading session. Crude oil, gold and copper declined, as the traders were concerned with the slowdown of the U.S. economy. Its an interesting situation … “Canadian Dollar Slipped Down on Risk Concerns”
New Zealand and Australian Dollar Lose to Yen
The New Zealand and Australian currencies continued their bearish trends against the Japanese yen today and dropped on Forex market during the Asian trading session, as the Japanese stock market plunged. The popularity of the carry trade using the Aussie and Kiwi as the long currencies and the yen as a short currency is currently experiencing a downtrend that lasts since the 26th … “New Zealand and Australian Dollar Lose to Yen”
Dollar Loses 4th Straight Week vs. Euro
The U.S. dollar has lost a fourth straight week against the European currency (and against the pound and the yen as well) as the whole week was filled with the bad economic news from the United States. The Fridays unexpected drop in the non-farm payrolls brought the dollar to a new historical minimum against the euro at 1.5454 euro/dollar. Surprisingly enough, it was the only … “Dollar Loses 4th Straight Week vs. Euro”
Forex Reserves at Record $1.01 trln in Japan
Japanese foreign exchange reserves rose to a new absolute maximum value last month almost $1.01 trillion. A $11.9 billion change is attributed to the growth of the euro against the dollar, which was significant in February. Reported by the Ministry of Finance Japan countrys reserves remain among the highest in the world only China possesses bigger foreign exchange reserves in their U.S. dollar value. Februarys gain was a second straight record setting for Japans reserves this year after a gain … “Forex Reserves at Record $1.01 trln in Japan”