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Day: August 7, 2008
August 72008
Euro Posted a Huge Decline against Dollar
EUR/USD declined today to its new minimum level since June 13 after a bearish commentaries by Jean-Claude Trichet that followed ECBs rate decision. Even bad reports on U.S. employment and housing couldnt save the currency pair from falling. It is now trading near 1.5326 level. Initial jobless claims rose to 455,000 last week, up from 448,000 a week before. Analysts estimated a decline to 420,000 claims for the last week. Pending home sales […]
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August 72008
Yuan Falls as China to Control Money Inflow
The Chinese yuan fell against the U.S. dollar for the third day this week as the government tightened control over the illegal capital inflow into the countrys financial system. The demand for the local currency may decline as the new rules give market regulators a greater authority in the payments investigations. Peoples Bank of China kept yuan almost unchanged to the U.S. dollar […]
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