Day: October 28, 2008

October 28
2008

Dollar Allows EUR/USD to Go Up and Pare Yesterday Gains

EUR/USD rose today for the first time after two days of decline as the decline of risk-aversion in the global economies caused the break in the current Forex trends. The fundamental from U.S. were very pessimistic today and probably won’t allow this break in the dollar and yen appreciation to hold for long. Consumer confidence dropped significantly in October — from 61.4 to 38.0 — that’s 38% drop in a single month; […]

Read more
October 28
2008

Yen Snaps Earnings amidst Intervention Talks

The Japanese yen posted the first daily decline against the euro and the pound and the second against the U.S. dollar as the Asian stock markets rebounded and the intervention talks arose in Japan. The extremely fast growth of the yen for almost 6 days set up the speculations that the Japanese central bank may use a currency interventions to support the […]

Read more