Day: March 20, 2008

March 20
2008

Dollar Reverses Previous Losses

EUR/USD reversed almost fully its previous weekly earnings today. It fell from 1.5642 to 1.5419 — that’s more than 1.4% in a single day. The euro, being fundamentally overbought, was doomed to a correction. But such a fast drop can mean something more than a short-term correction wave. Though the fundamental data that came out today in U.S. wasn’t very good for dollar. Initial jobless claims last week […]

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March 20
2008

Inflation Pushes Yuan to Highest Rate

The Chinese yuan rose to the highest rate against the U.S. dollar since the end of the yuan’s peg to dollar in 2005 as the government is believed to start fighting the domestic inflation rate more devotedly. Yuan has already gained more than 3.4% since the beginning of the year, and, according to the yesterday’s report by the People’s Bank of China, the dollar is expected to depreciate further during the first […]

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