Day: October 31, 2008

October 31
2008

Yen Gains as Rate Cut Indicate Problems

The Japanese yen gained versus the dollar, the euro and the pound today after the traders saw the signals of more troubles in the global financial system as the Bank of Japan cut the interest rate. The Bank of Japan cut the rate by 20 basis points today — lowering it from 0.5 percent to 0.3 percent, with three of the eight board members voting for reducing the […]

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October 31
2008

Dollar Returns to Bullish Trend Despite Previous Losses

EUR/USD dropped today for the second day despite the correctional wave that was forming during the last three days. After peaking at 1.3288 yesterday, the currency pair is now trading near 1.2733 as the traders continue to dump other currencies and buy U.S. dollars. U.S. personal income rose by 0.2% in September, following 0.4% increase in August and slightly above 0.1% forecast. Personal spending […]

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