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Day: April 28, 2010
April 282010
Dollar Supported by Fed’s Decision to Keep Rates Low
The U.S. dollar rose today against the Japanese yen, erasing its yesterday losses, and against the Great Britain pound after the Federal Reserve confirmed its intention to keep the interest rates near zero and reported about the stable inflation outlook and the improving labor market conditions; the greenback retreated versus the euro. The officials informed about the increasing household spending, though the credit to households remains tight. The demand from overseas and lower labor […]
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April 282010
Canadian Dollar Goes Up on Rising Stocks
The Canadian dollar advanced today against its U.S. counterpart and some other major currencies after the U.S. stocks rose more than estimated and as the investors demand for the currencies of the nations with the strong economies increased. The Canadian currency has dropped earlier on the concern that Greece will require more funds to resolve its budget crisis than previously expected. The worries were somewhat suppressed as European Union and International Monetary Fund […]
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April 282010
Euro Rebounds on Expectation of Forthcoming Aid for Greece
The euro rebounded today from its lowest level in a year, which it reached yesterday, on the reviving hopes that Greece will receive the joint EU-IMF rescue package soon as Germany may be persuaded to participate in the aid. The representatives of the European Central Bank and the International Monetary Fund will discuss with the Germany’s government the bailout package. Previously the euro declined as Germany, which is required to grant the biggest individual loan to Greece, […]
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April 282010
Fragile State of U.K. Economy Curbs Pound’s Strength
The Great Britain pound dropped today after Timothy Besley, the former policy maker of the Bank of England, said that the economy of the U.K. remains in the fragile state and because of the increasing doubts that the new government will be able to reduce the budget shortage. The U.K. economy expanded by 0.2 percent in the first quarter, half the pace of the previous three months, while the deficit rose 76 percent to 152.8 billion pounds in the year through March. […]
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April 282010
FOMC Says Nothing New, EUR/USD Trades Balanced
EUR/USD traded with a great deal of the intraday volatility today, influenced by the expectations regarding Fed’s interest rate decision and Greek bailout. The currency pair was rising during the early trading session and decreasing later. It stabilized near slightly above its open level at 1.3188. FOMC has decided to leave the interest rates unchanged in a range between 0% and 0.25%. The statement shows that the Fed is expecting a continued moderate […]
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