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Day: March 18, 2011
March 182011
Sterling Drops vs. Euro on Weak Consumer Confidence
The Great Britain pound fell against the euro today as the report showed that the consumer confidence worsened in February to the record low. The currency rose versus the US dollar and the Japanese yen. The consumer confidence index of the Nationwide Building Society dropped from 48 to 38 in February. That’s the lowest level since the survey began in May 2004. Market participants expected the index to remain unchanged. The poor consumer sentiment spurred talks that the economic […]
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March 182011
Canadian Dollar Climbs vs. Yen on Intervention
The Canadian dollar surged today against the Japanese yen the most in 10 months after the nations of Group of Seven, including Canada agreed to intervene in order to weaken the Japanese currency. The Canadian currency fell versus the euro and fluctuated against the US dollar. The G-7 nations agreed to help Japan to recover after the earthquake that happened on March 11. One of the measures to aid the country was the intervention as a strong currency could derail the recovery of Japan’s […]
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March 182011
G-7 Will Help Japan, South Korean Won Gains
The South Korean jumped to the highest level in six weeks today as the Group of Seven nations agreed to help Japan to deal with the aftermath of the earthquake, the tsunami and the radiation leak. The Statement of G7 Finance Ministers and Central Bank Governors, released today, said: In response to recent movements in the exchange rate of the yen associated with the tragic events in Japan, and at the request of the Japanese authorities, the authorities of the United States, the United Kingdom, Canada, and the European Central Bank will […]
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March 182011
Yen Slumps Because of Intervention
The Japanese yen tumbled today, posting the biggest decline in more than two years, as the nations of the Group of Seven announced that they will jointly intervene in the foreign-exchange markets. Japan’s Finance Minister Yoshihiko Noda said that his country intervened and other nations would do the same when their markets would open. This is the first such intervention in more than a decade. Today’s slump of the yen was biggest […]
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