Brazils Real had the largest drop in six months falling 2.2 percent against the U.S. dollar and declining from an eight-month high, as commodities and stocks declined, reducing capital influx to South Americas most influential economy. After a rocketing rally that made the real to rise 24.6 percent since March 2, the real tumbled the most in six weeks, after a negative day in stock and commodities markets. The main reason that affected the reals price this week was the remittance […]
Read moreEUR/USD continued to fall today as the ECB kept interest rate unchanged and the U.S. productivity in the first quarter of 2009 rose faster than expected. The currency pair is now trading near 1.4121. Initial jobless claims were at 621k last week, down from 625k reported for a previous week, almost the same as the traders have expected (620k). Nonfarm productivity in the business sector […]
Read moreThe Swedish currency hit a six-week low level after speculations rose that Latvia will devalue its currency, as an attempt to save the country from a deep recession, consequently affecting negatively loans held by Swedish banks in the Baltic Nation. According to a note posted this week by Riksbank, an economic deterioration in the Baltic countries is an imminent risk to Swedish banking institutions, since Latvias financial system is highly linked and […]
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