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Day: January 10, 2008
January 102008
Pound Down, Euro Up after Central Banks’ Decisions
Both central banks decided their monetary policy changes today regarding their main interest rates. Both Bank of England and European Central Bank left their interest rates unchanged — 5.50% and 4.00% respectively as the majority of the market experts were predicting. As the decisions were expected, they didn’t gave the speculators any surprise to trade on, but the GBP/USD went volatile immediately after the report went public, first gaining […]
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January 102008
Foreign Currency Reserves Up in Japan
Japanese Ministry of Finance released a report today regarding the country’s international exchange reserves and the foreign currency liquidity along with the structure of the overall assets as on the end of December 2007. The value of the total foreign exchange reserves accommodated by the Japan reached $973.36 billion — breaking the record high level again after gaining about $3.18 billion compared with the value at the end of November. The boost in the foreign currency reserves is attributed to the elevated demand […]
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January 102008
Interest Rate Decision’s Influence on EUR/USD
Today the European Central Bank decided to leave the interest rate unchanged at 4.00%, as it was expected by the markets. But the EUR/USD went up after the decision became known — the currency pair gained more than 70 pips. What has caused that? Along with the rate decision ECB announced another $20 billion intervention to the banks to add more dollar liquidity. That greatly cut the dollar’s position on Forex, especially […]
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