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Day: August 12, 2010
August 122010
Yen Falls as Speculation About Intervention Persists
The Japanese yen slipped today against most other major currencies after the central bank’s official said that they would closely monitor the currency’s movement, leading to the speculations that the central bank would limit the yen’s gains. The current grim outlook for the global economy is generally favorable to the yen as the safe currency. The US unemployment claims rose unexpectedly last week. The Standard & Poorâs 500 Index dropped 1.2 […]
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August 122010
Aussie & Kiwi Decline on Unemployment
The Australian and the New Zealand dollars fell today after the jobless claims in the US rose unexpectedly and equities dropped, damping the investors’ willingness to risk and decreasing the appeal of the higher-yielding currencies. The initial unemployment claims rose to 484,000 from the previous week’s revised figure of 482,000. The analysts were totally wrong, expecting the decrease to 465,000. The MSCI World Index dropped as much as 1.1 percent. The Australian dollar also weakened after the unemployment rate unexpectedly […]
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August 122010
EUR/USD Declines, But Poor US Reports May Reverse Trend
EUR/USD currency pair was rising at the start of today’s trading session, but for the most part of a day it experienced steady decline. Today’s poor reports from US may weaken the dollar, adding to concerns about the US economic recovery, but may drag the euro further down, as bad news from US tend to cause negative impact on outlook for the economy of the whole world. EUR/USD trades currently at about 1.2817. Initial […]
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August 122010
Yuan Declines on Efforts of Chinese Policy Maker to Keep it Low
The Chinese yuan fell today on the speculation that the signs of the deteriorating global economy may prompt the Chinese policy makers to limit the currency’s gains in order to prevent the damage to the exports, which the strong currency may cause. The Peopleâs Bank of China lowered today the daily reference rate by 0.36 percent to 6.8015 versus the dollar. The US officials stated that in the previous month the yuan was undervalued as the Chinese government keeps the currency rate artificially […]
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August 122010
Japanese Currency Weakens on Talks About Intervention
The Japanese yen declined today versus the euro and the Great Britain pound on the speculation that the policy makers would take measures to prevent the currency appreciation, which may hurt the nation’s recovery base on the exports. The currency rose against the US dollar. The policy makers from the Ministry of Finance and Bank of Japan met to discuss financial markets, but it was told that they haven’t discussed the monetary policy at the meeting. The last time […]
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