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Day: October 8, 2008
October 82008
Japanese Yen Breaks Past 100 per Dollar
The Japanese yen demonstrated a breakthrough growth against almost all major currencies today as the stocks tumbled globally and traders sought the «safe haven» assets. The yen broke through the 100 per U.S. dollar mark for the first time since April this year. The yen also rose significantly against the euro and the pound today. It reached the lowest […]
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October 82008
Dollar Falls for Second Day as U.S. Markets Not Revived by Rescue Plan
EUR/USD currency pair is growing for the second day in a row today after the Federal Reserve and the major central banks cut the interest rates to provide additional help to the tumbling markets. Fed cut the interest rate from 2% to 1.5%, Bank of England — from 5% to 4.5%, European Central Bank — from 4.25% to 3.75%, Bank of Canada — from 3% to 2.5% and Swiss National Bank — from 2.75% to 2.50%. This didnt influence dollar much — it continued to fall despite […]
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