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Day: October 6, 2010
October 62010
Yen Strengthens, Causes Speculation About Another Intervention
The Japanese yen extended its rally today, erasing its losses since the Bank of Japan step in to weaken the currency and causing the speculation that the Bank would perform another intervention. The yen also rose versus the Great Britain pound but fell against the euro. Japan intervened on September 15th to stem the yen’s gains, which could hurt the nation’s exports. This moved dropped the yen significantly down but hadn’t long-term […]
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October 62010
Loonie Hits Five-Month High Against Greenback
The Canadian dollar rose today to the highest level in five months against the US dollar on the prediction the central banks across the world would cut their interest rates while the Canadian central bank keep the rates unchanged. David Watt, senior currency strategist at Royal Bank of Canada, said: Weâve got general aversion to the euro, the dollar and other industrial-world currencies as investors are looking for countries with less structural impediments as more […]
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October 62010
Pound Drops on Talks About Stimulus
The Great Britain pound fell today versus the US dollar and the Japanese yen and traded near the lowest level in four months against the euro before the meeting of the Bank of England’s policy makers to discuss the bonds purchase program. The policy makers of the Bank of England will meet tomorrow to discuss the necessity of additional stimulus, while the Monetary Policy Committee will set the interest rates. The market tends react negatively on the talks about the quantitative easing, […]
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October 62010
Dollar Weakens on Outlook for Additional Easing & Unemployment
The US dollar fell today as the Federal Reserve may follow the Bank of Japan in adding further stimulus and on the anticipation of the increasing jobless claims and unemployment rate. The Dollar Index, tracking the US currency versus the currencies of six major US trading partners, touched 77.597, the lowest level since January 20th. The reports later this week expected to show that the unemployment rate in the US rose from 9.6 percent to 9.7 percent and the jobless […]
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October 62010
EUR/USD Rises on US Employment Reports
EUR/USD was falling today, but gained after a report showed an employment figure, which was worse than expected. The dollar is also weakened by talks about possible quantitative easing. EUR/USD trades now near 1.3878 after it fell to the intraday low of 1.3801. ADP employment rate decreased by 39,000 from August to September on a seasonally adjusted basis, while traders and investors expected an increase by 23,000 last month. […]
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October 62010
Bank of Japan Cuts Interest Rates, Yen Weakens
The Bank of Japan cut its interest rates today to virtually zero and announced its asset purchase program. The decision to add stimulus was rather unexpected and the yen dropped against the euro and the Great Britain pound. The dollar weakness allowed the Japanese currency managed to outperform its US counterpart. The Bank of Japan cut its overnight call rate target from 0.1 percent to virtually zero and said: The Bank will maintain the virtually […]
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