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Day: September 24, 2008
September 242008
Korean Won and Other Asian Currencies Fall
The Asian currencies declined today against the U.S. dollar as the delay of the U.S. financial rescue plan may diminish the attractiveness of the risk-ridden regional currencies in conjunction with the economic output decline in Asia. The basket of the 10 major Asian currencies fell today after the yesterdays testimony of the Federal Reserve Chairman Ben Bernanke and the U.S. Treasury Secretary Henry Paulson before the Congress regarding the $700 billion plan. The Congress reaction to this plan isnt obvious and the debates about it may […]
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September 242008
Dollar Grows as Existing Home Sales Drop
EUR/USD remained almost unchanged today after the yesterdays slight correction. The currency pair was in the uptrend for the most part of the day but started to fall after the important economic reports came out today in U.S. It failed to reach the yesterdays open level and is now trading near 1.4671 rate. Existing home sales in August dropped to 4.91 million units annual rate — down from 5.02 (upwardly revised from 5.00) million units in July. The market analysts expected […]
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