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Day: December 18, 2008
December 182008
EUR/USD Breaks Through September Highs above 1.47
EUR/USD continued to go up today, posting the biggest weekly gain in its history — and its only Thursday today! The fundamental indicators from U.S. were mixed today, but the euro is probably still affected by the recent Fed interest rate cut. EUR/USD is currently trading near 1.4444 after reaching the highest level since September 25 at 1.4719. Initial jobless claims declined last week from 575k (revised […]
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December 182008
Yen Down on Intervention Concerns
The Japanese yen posted its first daily drop against the U.S. dollar after 5 days of gains as the Japans Finance Minister said that the currency intervention will be used if needed to keep the yen from the excessive appreciating. Finance Minister Shōichi Nakagawa said today that the Bank of Japan will use the currency intervention for the first time in the last four […]
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