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Day: April 14, 2010
April 142010
Demand for Higher-Yielding Assets Pushes Aussie Up
The Australian dollar advanced today, supported by the unexpectedly high growth of the U.S. retail sales, which spurred speculation about the rising demand for the higher-yielding assets. The U.S. retail sales jumped 1.6 percent the last month. As the demand for the higher-yielding assets goes up, the speculative investors are attracted to Australia with its interest rates are as high as 4.25, compared to the benchmark rates in Japan (0.1 percent) and in the U.S. (0–0.25%). The Australian currency also […]
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April 142010
Franc Falls Versus Euro as SNB Attempts to Prevent Appreciation
The Swiss franc fell versus the euro on the speculation that the central bank was performing the selling of the currency to prevent its excessive appreciation because of the slowing economic recovery. Earlier Jean-Pierre Danthine, the Governing Board member of the Swiss National Bank, stated that policy makers are determined to prevent âany excessive appreciationâ of the franc. He also admitted that the SNB is unable to carry on the buying of the foreign currencies indefinitely. The Swiss policy […]
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April 142010
Singapore Dollar Was Revaluated
The Singapore dollar experienced the unexpected surge as the government revaluated the currency after the forecast about the widening economy and the increasing inflation. This decision reflects the broader trend for the Asian countries to shift their attention and resources from the economic stimulation to the containment of the inflation as the prices for the commodities rise. The decision may also signal about the policy maker’s belief that China is going to let its currency float, ending the yuan’s peg to the dollar. The Monetary […]
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April 142010
Euro Fails to Appreciate Against Dollar
EUR/USD failed to go up significantly today and retreated even before reaching the Monday’s high level, as the fundamental indicators hinted a soon rate hike in the United States. The pair is currently trading near 1.3629 and it looks like the traders aren’t quite sure where to go now. Retail sales unexpectedly rose by 1.6% in March after 0.5% increase in February. The forecasts pointed only at 1.2% growth. Such a fast improvement […]
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April 142010
Yen Drops While Global Recovery Continues
The Japanese yen dropped to the lowest level in the week against the euro on the speculation that the continuing economic rebound will spur demand for the higher-yielding assets. The Japanese currency also fell after the statement of Masaaki Shirakawa, the Governor of the Bank of Japan, that the possibility of the double-dip recession became lower. The 1.2 percent surge of the retail purchases in the U.S. is just another sign of the strengthening economic recovery. The appeal of the yen as the low-risksafe-haven currency decreases as the improving economic […]
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