Day: October 21, 2011

October 21
2011

Japanese Yen Surges in Forex Trading

Yesterday, the Japanese yen moved lower in Forex trading. Today, though, there has been a bit of a reversal. Now the yen is surging against its major counterparts, heading suddenly higher. Against the US dollar, the Japanese yen is moving much higher. One of the reasons that the yen might be seeing success against the greenback could be due to rumors about an increase of dollars soon. Some believe that […]

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October 21
2011

UK Borrowing Shrinks, While Consumer Confidence Deteriorate

The Great Britain pound jumped against the US dollar today after the report showed the nation’s budget deficit shrank more than expected. The performance of the sterling against the Japanese yen wasn’t so good as the confidence of the British consumers unexpectedly worsened. Britain’s public sector net borrowing fell to £14.1 billion in September from £15.4 billion a year ago, while market analysts anticipated a reading of £15.0 billion. The budged deficit decreased […]

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October 21
2011

Euro Higher against Dollar on Eurozone Optimism

Euro is higher against the US dollar today, getting a boost from another round of optimism about a solution to the sovereign debt crisis. So far, euro has hit a high just for today at 1.3901, before dropping back a bit. Once again, optimism is high that this weekend summit will produce an agreement for a way to contain the sovereign debt crisis in the eurozone. Perhaps Forex traders feel that the EU […]

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October 21
2011

USD/INR Above 50, Will RBI Intervene?

The Indian rupee fell below 50 per a dollar today on the signs of an economic slowdown in India, spurring the speculation that the nation’s central bank may intervene to support the currency. The economy of India, third biggest in Asia, expanded 7.7 percent in the second quarter from a year ago, the slowest growth rate since 2009. Indian Finance Minister Pranab Mukherjee said that the annual economic growth in the first quarter may be lower […]

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October 21
2011

NZD Goes Up on EFSF Intervention Guideline

The ever-shifting mood among Forex market participants, caused by the uncertain prospects for a resolution of the European struggle with debt, translates into violent swings and an unpredictable behavior of currencies. The behavior of the New Zealand dollar wasn’t very different, yet the currency managed to gain as there was a reason for optimism. The main theme for talks among investors is the European Union summit this weekend and the possible boost of the European Financial Stability Facility. The question whether […]

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