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Day: October 26, 2010
October 262010
Pound Rises on GDP and Better Outlook from S&P
The Great Britain pound surged today after the Standard & Poor’s raised the credit outlook for Britain and the GDP report trimmed the bets for the quantitative easing. The Standard & Poor’s raised the Britain’s outlook from negative to stable and confirmed the Britain’s AAA credit rating. The preliminary GDP report showed that the gross domestic product grew 0.8 percent in the third quarter, compared to the expected value of 0.4 percent. GBP/USD went up from […]
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October 262010
Yen Weakens on Intervention Concerns
The Japanese yen fell today as the concerns about another intervention continue to mount. The yen appreciated more than 5 percent since the last intervention. Yoshihiko Noda, Japan’s Minister of Finance, said on October 23rd that Japan’s government is ready to intervene if it’d deem necessary. He also stated the government’s currency policy hasn’t changed after the Group of Twenty meeting. USD/JPY rose from 80.81 to about 81.37 […]
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October 262010
Good Reports from US — EUR/USD Goes Down
EUR/USD dropped as today’s reports, as well as yesterday’s report on existing home sales, were largely positive, giving rise to speculation that quantitative easing will be performed later and in smaller scale. EUR/USD trades currently at 1.3884. S&P/Case-Shiller home price index declined to 146.99. It was 1.7% higher than a year ago, but 0.2% lower than a month ago. The median forecast value for this indicator was 2.4%. […]
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October 262010
Pound Falls as UK Mortgage Approvals Declined in September
The Great Britain pound fell today against the Japanese yen after report showed the number of the mortgage approval decreased more than expected. The pound gained against the US dollar, which fell against all other currencies. The number of new mortgages approved for home purchase during the September was 31,104, compared to the August value of 31,781. The analysts expected the value near 31,600. The analysts also expect the house prices to continue their […]
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