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Day: August 1, 2008
August 12008
Dollar Strengthens Despite Continued Decline in Employment
EUR/USD declined today from 1.5596 to 1.5560. Although the early decline was strong, the U.S. employment report disappointed many traders who bought dollars and it corrected almost a half of its earlier gains. But even after the report dollar is still trading higher against euro than it closed yesterday. Nonfarm payrolls declined by 51,000 in July — at the same rate as in May (revised up from 62,000 decline). The […]
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August 12008
Stocks Decline Spurs Yen Gains on Forex
The Japanese yen rose to its two-week high level against the euro and one-week against the Great Britain pound today as the stock markets tumbled yesterday in U.S. and continued to fall in Asia today. Yen also continued to grow against its popular carry trade counterparts — New Zealand and Australian dollars as the traders believed that the central banks in those countries will […]
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