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Day: November 26, 2010
November 262010
Canadian Dollar Falls as Fundamentals Favor Safe Currencies
The Canadian dollar slumped today against its US counterpart as the tension between North and South Korea is becoming more heated and the European debt crisis threatens to spread across the Eurozone, causing the investors shun the growth-related currencies in favor of the safer ones. The conflict between North and South Korea is closing to the brink of war and was further worsened with the involvement of the United States. The policy makers of the Eurozone are attempting to convince Portugal […]
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November 262010
Dollar Rises on Korean Conflict & Portugal’s Bailout Concerns
The US dollar advanced today as the concerns that the conflict between North and South Korea would escalate increased the demand for the currency as the safe haven. The US aircraft carrier was sent as the show of strength after North Korea shelled this week the South Korean island. North Korea warned that any “escalated confrontation” would result in a war. The dollar also strengthened against the euro as the European Union’s leaders pressure Portugal to accept […]
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November 262010
Polish Zloty Falls on European Debt & Fitch Statement
The Polish zloty tumbled today on the increasing concerns about the European sovereign-debt and as the Fitch Ratings requested the country to decrease its deficit. The Financial Times Deutschland reported that Eurozone policy makers are pushing Portugal to request aid from the bailout fund. The Fitch Ratings said yesterday that Poland required to cut its deficit to prevent “negative pressure building” on its creditworthiness. The Fitch said that the increase of the countryâs general government […]
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