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Day: October 13, 2010
October 132010
Swiss Franc Falls After Hitting Record vs. Dollar, Drops vs. Euro
The Swiss franc slipped today against the euro after Axel Weber said that the European Central Bank should end its bonds-purchase program. The franc also fell after reaching the record high level versus the US dollar. Weber, the President of the Deutsche Bundesbank and the Member of the Governing Council of the European Central Bank, said yesterday “these securities purchases should now be phased out permanently”. Weber’s comments provided support […]
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October 132010
Canadian Dollar Heads to Parity with Greenback
The Canadian dollar traded near parity with its US counterpart after the report showed the new home prices unexpectedly grew in August and as the commodities rallied, increasing the appeal of the growth-related currencies. The New Housing Price Index increased 0.1 percent in August following the 0.1 percent decrease in July. The analysts expected the 0.1 percent drop. November delivery for crude oil, the key Canada’s export, gained as much as 2.2 percent to $83.45 per […]
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October 132010
South Korean Won Rise on Growth Prospect & Fed’s Easing
The Asian currencies, including the South Korean won, gained today on the growth prospects of the Asian region and after the US Federal Reserve signaled yesterday that it may add more stimulus to support the economy. The suggestion of the Fed that it may ease policy caused the dollar to drop against most currencies, including the Asian ones. The International Monetary Fund said that the economies of the Asian developing countries would grow 9.4 percent […]
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October 132010
Yen Weakens as Stocks Gain, Talks About Intervention Intensify
The Japanese yen went down today as the Asian stocks rallied, causing the speculation that the region’s economy continues to grow and damping the demand for the Japanese currency as the safe haven. The MSCI Asia Pacific Index of regional shares rose 0.3 percent and the Nikkei 225 Stock Average went up 0.2 percent. The Japanese policy makers continue to complaint about the yen’s strength, adding to the reasons to believe in another intervention. USD/JPY rose from 81.71 […]
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October 132010
EUR/USD Falls After Advance on FOMC Minutes
The euro was rising today against the dollar, which continued its decline against most other currencies after yesterday’s FOMC minutes suggested that next round of quantitative easing may be performed soon. Recently the EUR/USD currency pair expected a sharp decline but for now stays above the opening level. EUR/USD trades currently at 1.3929, near its opening level of 1.3923, after it surged to the intraday high […]
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October 132010
Dollar Falls as Federal Reserve Signals About Easing
The dollar weakened after the Federal Open Market Committee released the minutes of its policy makers’ meeting, which signaled about the second round of quantitative easing. The minutes said: Many participants noted that if economic growth remained too slow to make satisfactory progress toward reducing the unemployment rate or if inflation continued to come in below levels consistent with the FOMC’s dual mandate, it would be appropriate to provide […]
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