Day: August 22, 2011

August 22
2011

NZ Dollar Climbs on Expectations of QE3 in US

The New Zealand dollar jumped today on the speculation the US Federal Reserve will perform additional actions to support the faltering nation’s economy. Federal Reserve Chairman Ben S. Bernanke will speak on August 26 in Jackson Hole, Wyoming. It’s there last year he has told about the second round of quantitative easing. Some traders speculate this year we would see a third round of stimulus. Kengo Suzuki, […]

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August 22
2011

Rand Weakens on Prospect of Interest Rates Cut

The South African rand declined today on the speculation the central bank will decrease interest rates to support the nation’s economy that feel the negative impact of the global economic slowdown. South African Reserve Bank Governor Gill Marcus said the central bank will “actively monitor” global developments and is ready to take steps to ensure stability and liquidity in financial markets. Forecasters predict that the inflation report on August 24 will show […]

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August 22
2011

Japan Speaks About Intervention, Yen Weakens

The yen fluctuated against the US dollar and fell against the euro today on the speculation that Japan will intervene to rein the excessive appreciation of the currency. Japanese Finance Minister Yoshihiko Noda said he’s ready to take appropriate measures after the yen jumped to the record 75.93 against the dollar on August 19. Noda said today that he’s “more concerned about the worsening of the yen’s one-sided movements” and “the government will take “bold actions […]

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