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Day: October 7, 2010
October 72010
Dollar Reaches Eight-Month Low vs. Euro & Pound, Drops vs. Yen
The US dollar fell today to the lowest level since February against the euro and the Great Britain pound before rebounding and extended its decline versus the Japanese yen. The dollar weakened on the speculation that the Federal Reserve would resume its purchases of the government debt to stimulate the US economy. The Dollar Index, which tracks the US currency versus the currencies of six major US trading partners, went up 0.3 percent to 77.63 after […]
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October 72010
Pound Reaches Eight-Month Record as Rates Remain Unchanged
The Great Britain pound hit today the highest level since February against the US dollar after the central bank’s policy makers kept the interest rates unchanged and decided not to increase the purchases of the bond. Currently the currency declines. The Bank of Englandâs Monetary Policy Committee decided today to keep the official Bank Rate at 0.5% as was expected. The report today showed the manufacturing production output increased by 0.3 percent between July and August. […]
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October 72010
Aussie Reaches Record vs. Greenback on Employment Report
The Australian dollar climbed to the record against the US currency today after the employment in Australia unexpectedly surged, causing the speculation that the central bank would raise the interest rates. The Australian employers added 49,500 work places in September. This figure is higher than the August advance of 31,600 and much better than the expected 20,200 jobs. The unemployment rate remained unchanged at 5.1 percent. AUD/USD surged from 0.9669 to 0.9897 as of 11:49 […]
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October 72010
EUR/USD Hits Record High in Eight Months
EUR/USD currency pair slumped after today’s report showed that number of US jobless claims decreased more than expected, but later resumed its previous advance. The main reason for the dollar’s weakness is outlook for additional stimulus by the Federal Reserve. EUR/USD currently trades at 1.3921 after jumping to 1.4027, the highest level since February. Initial jobless claims dropped from 456,000 to 445,000 last week. A median forecast […]
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