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Day: February 21, 2012
February 212012
Yen Falls, Erases Losses vs. Euro
The Japanese yen retreated today against the US dollar and the euro after Greece received bailout from the European Union. The currency pared its losses versus the euro, though, and gained against the Great Britain pound. Greece got its bailout at last, easing concerns among investors and their desire for safety of Japan’s currency. Forex market participants aren’t certain that the rescue package would make much difference for the struggling economy […]
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February 212012
Canadian Dollar Mixed Today
Canadian dollar is mixed today in the wake of the Greek debt deal. Instead of heading higher against the US dollar on risk appetite, though, the loonie has been stilted today. Mixed economic data in Canada is contributing to the mixed Forex performance of the loonie. The Greek debt deal has helped the euro gain some traction in the currency markets, even though there are still some concerns about what’s next. However, […]
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February 212012
Turkey’s Central Bank Lowers Interest Rates, Lira Reacts Negatively
The Turkish lira fell today after Turkey’s central bank unexpectedly decreased its interest rates, following central banks of other nations in monetary policy easing. The Central Bank of the Republic of Turkey decreased its key overnight lending rate from 12.5 percent to 11.5 percent and repo rate from 12 percent to 11 percent. The bank wrote in the statement: Starting from February, core inflation indicators are expected to follow […]
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February 212012
Euro Flat as Traders Remain Pessimistic Even After Greece Receives Bailout
The euro was flat today after the European finance ministers agreed to provide Greece a bailout, but investors weren’t convinced that the situation in the eurozone will improve in the near future. European finance ministers were meeting yesterday to decide the fate of Greece. They preferred to help the country rather than allow it to face default that could lead to dissolution of the eurozone. The aid package includes a 53.5 percent write-off for the Greek debt. […]
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February 212012
UK Pound Struggles, Even with Budget Surplus in Britain
UK pound is struggling today, even with the announcement that Britain saw its biggest budget surplus in four years during January. The news is being met with calls for more government spending to stimulate the economy, but George Osborne is holding steady, and insisting that more austerity is needed. Chancellor of the Exchequer George Osborne is resisting calls to open the government coffers a little more, now […]
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