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”

Read More

Russian Ruble Near 3-Year Low vs. Dollar

The Russian central bank widened the trading band for the ruble today as the Russia’s main exports — crude oil and metals continued to depreciate on the global markets. The Bank of Russia allowed the ruble to depreciate by 30 kopecks today at the beginning of the currency trading session. It was the fourth time since November 11 when the central bank allowed the ruble to decline against benchmark currency basket, which consists of 45% euro and 55% U.S. dollar. The Urals crude oil, which is Russia’s main export commodity, … “Russian Ruble Near 3-Year Low vs. Dollar”

Read More

Swedish Krona Near 5-Year Low on Rate Cut

The Swedish krona advanced it’s yearly low levels against the U.S. dollar today as the country’s central bank surprised the market participants with the biggest rate cut in the last 16 years to prevent the economy from contracting. The official repo rate was reduced from 3.75 percent to 2 percent by 175 basis points today. It exceeded the traders’ expectations that were aimed on 1 percent cut. The Riksbank … “Swedish Krona Near 5-Year Low on Rate Cut”

Read More

Euro Near Weekly Lows before Rate Decision

The euro declined today against the U.S. dollar, almost snapping the yesterday’s gain, as the traders expect the weak data on the Eurozone retail sales after PMI shrank in the leading Eurozone economies. The European currency came close to the lowest level in the last two weeks against the dollar and the lowest in the month against the yen. As the macroeconomic indicators … “Euro Near Weekly Lows before Rate Decision”

Read More

Pound Loses for Third Day Despite Correction

The U.K. pound continued to fall against the U.S. dollar and the Japanese yen today, despite the correction seen in some other dollar- and yen-based currency pairs, as the traders expect a major rate cut by the Bank of England. Traders bet that the Bank of England will have to cut the interest rate by 100 basis points down to 2.00 percent on December 4th to protect economy from … “Pound Loses for Third Day Despite Correction”

Read More

Chinese Yuan Depreciates to July’s Levels

The Chinese yuan fell to the weakest level since August today as the country’s government continued to manipulate its currency before the scheduled meeting with the U. S. Treasury Secretary. The reference rate, set by the People’s Bank of China, allows 0.5 percent deviation in the either side during the daily yuan trading session. Today the rate was set to the lowest level since August 2008 and the … “Chinese Yuan Depreciates to July’s Levels”

Read More

Dollar to Post Weekly Decline against Euro

The measures proposed by the U.S. government to support the national financial system and the optimism that followed the announcement of Obama’s economic team caused the U.S. dollar to decline against the euro this week as the money risks decreased world-wide. The  U. S. dollar is currently heading for the second negative week against the euro and the British pound and for … “Dollar to Post Weekly Decline against Euro”

Read More

Thai Baht Declines on Political and Civil Crisis

The Thai baht continued its decline against the U.S. dollar today and touched its lowest level in the last 21 months as the political protests and the civil unrest raged through the country. The political turmoil in the country is caused by the demands of the opposition and the military leaders for the current Prime Minister Somchai Wongsawat to resign. He still rejects these … “Thai Baht Declines on Political and Civil Crisis”

Read More

British Pound Declines before GDP Report

The British pound fell today against the U.S. dollar and the yen, following the three days of growth, as the traders expect the GDP report to confirm a decline of the economy today. The traders expected that the today’s Q3 GDP report will confirm the 0.5 percent decline seen in the advance report a month ago. The report will be released today at 9:30 GMT. Although it won’t mean a recession … “British Pound Declines before GDP Report”

Read More

Yen Gains after Two Days of Losses

The Japanese yen rose today against the major currencies after losing for two days as the U.S. macroeconomic reports will show the worsening of the crisis, according to the analysts’ expectations, and the investors will cut the amount of assets funded in the Japanese currency. The yen experienced one of the worst days yesterday as the stocks surged in U.S. on the revealing of the … “Yen Gains after Two Days of Losses”

Read More