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Day: August 25, 2010
August 252010
Japan’s Financial Minister Is Ready to Intervene
The Japanese yen retreated from its 15-year maximum level against the US dollar and from the all-time high against the euro after the Japanese Finance Minister said that the appropriate action is needed in the Forex market. Yoshihiko Noda, the current Finance Minister of Japan, said today that the current levels of Japanese yen describe a one-sided movement in the foreign exchange market that’s dominating it since at least May: We have […]
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August 252010
EUR/USD Rises as Housing Tumbles, Oil Inventories Go Up
The euro rose against the US dollar slightly today as the market participants reacted to the pessimistic macroeconomic reports. The currency pair was going up rather strongly during the day but then retreated on some risk-awareness doubts. EUR/USD is now trading near 1.2657. Durable goods orders rose by 0.3% in US in July, following a drop by 0.1% a month earlier. The traders expected a much bigger growth of 3.0%. New home sales […]
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August 252010
Franc at New Record vs. Euro, Counts as Safe Haven
From looking at the recent dynamics of the Swiss franc in the foreign exchange market it can be undoubtedly said that the currency is now treated as a safe haven by the traders. It reached its new historical maximum against the euro today. Following a strong growth yesterday (more than 1 percent), spurred by the non-zero yield for the 6-month Swiss bonds, the Swiss franc touched its new record high level against […]
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