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Day: December 4, 2008
December 42008
Swedish Krona Near 5-Year Low on Rate Cut
The Swedish krona advanced its yearly low levels against the U.S. dollar today as the countrys central bank surprised the market participants with the biggest rate cut in the last 16 years to prevent the economy from contracting. The official repo rate was reduced from 3.75 percent to 2 percent by 175 basis points today. It exceeded the traders expectations that were aimed on 1 percent cut. The Riksbank […]
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December 42008
EUR/USD Up after Employment and Factory Orders Reports
EUR/USD rose today after posting a slight decline yesterday and trading in the negative zone for the most of the day as the ECB cut the interest rate and some mixed fundamental reports from U.S. arrived. EUR/USD is currently trading near 1.2794. Initial jobless claims unexpectedly fell in U.S. last week — from 530k (revised up from 529k) to 501k. According the forecast by the […]
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