Day: March 12, 2008

March 12
2008

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 Reserve’s 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 […]

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March 12
2008

New Record on EUR/USD at 1.5526

The February Treasury budget deficit beat the last signs of life out of the fadollar today as the released numbers were far worse than the most pessimistic expectations of the economic strategists. The budget deficit was at $175,6 billion, while the forecasted value was at $170,0 billion. Last year February budget deficit was at $120,0 billion. That’s an astonishing $55 billion (45.8%) increase of the deficit in a year-to-year comparison. EUR/USD hit its new record value on Forex today after the news […]

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