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Day: April 6, 2010
April 62010
Canadian Dollar Reaches Parity with U.S. Currency
The Canadian dollar reached parity with the greenback and traded at a higher level compared to its U.S. counterpart today for the first time since July 2008 amid soaring prices for the crude oil, the main nation’s export, on outlook for higher interest rates and because of rising prices for some commodities. The Canadian currency, commonly referred to as the loonie, benefited from the increasing price for the crude oil, which reached the highest level since October 2008 today […]
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April 62010
Euro Harmed by Rumors About Failing Rescue Plan for Greece
The euro continues to decline against the U.S. dollar, the Japanese yen and other major currencies as the speculation that Greece may reconsider its agreement to the rescue plan, involving European Union and International Monetary Fund support in easing its debt, sparked doubts in a strength of the E.U. economy and its currency. The Greek officials received the information about the conditions on which the aid from the IMF will be offered and considered them to be too harsh, […]
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April 62010
Pound Falls on Results of Survey
The U.K. pound declines after the poll showed that the forthcoming election in Great Britain may end without a party holding a parliamentary majority and being strong enough to resolve the budget deficit, because of that the concern arose that the economic recovery in the U.K. may slow and the British economy may lag behind U.S.’s. Previously the U.K. currency has gained as the survey showed that the Conservative party led over the Labor party by 10 […]
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April 62010
Will Aussie Reach Parity with Greenback?
The Australian dollar extended its gains against its U.S. counterpart for a second day on speculation that the central bank will continue its increase of the interest rates with the improvement of the domestic economy. The Reserve Bank increased the interest rate to 4.25 percent today amid the signs of the improving economy, bolstering the Australian dollar’s strength. The Aussie, as the Australian currency is commonly nicknamed, is closing to parity with the greenback as prices for commodities rise, […]
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