Day: May 4, 2009

May 4
2009

South Korean Won Hits 4-Month High Against U.S. Dollar

The South Korean currency has been favored since the beginning of the year by both domestic and international signs of improved economic conditions. The South Korean stocks rallied this Monday pushing the national currency up as extremely favorable economic reports were released in both local and international markets. The national central bank injected less than forecast foreign currency in the domestic market, […]

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May 4
2009

Global Slump Ending Speculations Weaken Yen

The yen continued the bearish trend which started last week when positive economic news pushed the equities market up, decreasing demand for the low-yielding Japanese currency. The yen will be soon entering the second week of losses against the euro and hit a six-month low against the Australian dollar, as growing optimism attracts investors to higher-yielding assets. The  U. S. dollar, considered […]

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May 4
2009

Dollar Loses Against Euro as Housing Sector Improves

Housing sector in U.S. showed some improvement today, while the stock markets were less than usually concerned with the swine flu outbreak and the global recession. EUR/USD rose for the second day today and is now trading near 1.3328. Construction spending rose by 0.3% in March compared to February level. That was the first gain in more than a year. February change […]

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