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Day: June 28, 2010
June 282010
Great Britain Pound Gains on Improving Confidence
The Great Britain pound strengthened today after the leaders of the Group of Twenty set the budget-deficit targets, stating that they would focus on the supporting the economic growth and would try to avoid levies on the banks. The U.S. President Barack Obama said that the G-20’s target to halve the budget deficits by 2013 is in line with the U.S. plans and reflects the economic needs of every nation. The U.K. Prime Minister David Cameron said that the Britain’s […]
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June 282010
South African Rand Strengthens After G-20 Meeting
The South African rand gained today as the attractiveness of the higher-yielding currencies increased after the Group of Twenty leaders discussed plans to curb the budget deficits. The G-20 pledged at least to halve deficits by 2013, to maintain existing stimulus measures and perform “concerted actions” to support the recovery of the global economy. The traders continue to bet on the decrease of the 6.5 percent benchmark interest rate by the central bank on July 22. USD/ZAR traded at 7.574 as of 11:08 GMT down from […]
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June 282010
Yen Weakens as Demand for Safety Wanes
The Japanese yen weakened today as the demand for the safety waned after the Group of Twenty leaders agreed on the measures to battle the budget deficits, boosting the equities. The G-20 leaders pledged to halve the deficits by 2013 and stabilize debt-to-output ratios by 2016. Angela Merkel, the Chancellor of Germany, commented on the fiscal targets: “Honestly, this is more than I expected, because it is quite specific. Itâs a success that industrialized countries as a group accepted this.” USD/JPY […]
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