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Day: July 25, 2011
July 252011
Aussie Rises on Rate Expectations, US Problems
The Australian dollar continued its gaining streak today, rising against the other major currencies, as the economic analysts expect rate increases and the global investors avoid US dollar. The Aussie (which is a nickname for the Australian currency) managed to grow against the US dollar for fifth day, also gaining considerably against the Japanese yen and the euro. While isolated analysts forecast rate cuts in Australia due to the declining commodity prices, the majority of the banks’ […]
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July 252011
Continued Debates over US Debt Push USD to New Lows vs. CHF
The US dollar reached a new all-time low level against the Swiss franc, while staying strong against the other currencies today, as the US authorities failed to agree on the debt ceiling shift. With the default looming on the horizon for the world’s biggest economy, the traders seem to prefer the safety of the Swiss franc to the buying power of the US dollar. As the Republicans are still planning to block even the slightest increase in the permitted public debt size (from the current […]
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