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Day: March 9, 2012
March 92012
Japanese Yen Remains Mostly Weaker
Japanese yen remains mostly weaker against other currencies today. Japan’s government continues to pressure the Bank of Japan to do what it can to encourage an economic recovery. However, with the yen mostly weaker, especially against the US dollar, the BOJ is unlikely to make any startling policy changes anytime soon. Last month, the BOJ introduced surprise easing with the intent to keep the yen weaker and promote a favorable export […]
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March 92012
US Dollar Rises as Quantitative Easing Becomes Less Likely
US dollar is rising today, gaining as improved economic data provides support. With the latest non-farm payrolls report, it appears that the economy is recovering sufficiently that the Federal Reserve is unlikely to institute another round of quantitative easing to stimulate the economy. The news is giving the US dollar the upper hand right now. For February, non-farm payrolls increased by 227,000. This followed an increase in January, and was marked […]
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March 92012
EUR/USD Drops on Better-Than-Expected Nonfarm Payrolls
EUR/USD slumped today as US nonfarm payrolls rose more than expected last month, reducing probability of a next round of quantitative easing. As for bad news, the deficit of trade balance increased, while it was expected to shrink. Nonfarm payrolls rose by 227k jobs in February. That’s a smaller growth than the January increase by 284k (revised upwardly from 243k), but still better than analysts’ predictions of 209k. Unemployment rate […]
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March 92012
Swiss Franc Jumps vs. Dollar & Yen
The Swiss franc jumped today against the US dollar and the Japanese yen as positive market sentiment diminished attractiveness of the currencies of Japan and the United States. Sometimes, the Swiss franc tends to behave more like risky currency, not like a safe one, since it was pegged to the euro. Today’s positive sentiment made the euro to rise and that, in turn, allowed the franc to rally. The optimistic outlook for the Greek bond swap and sings of robust growth […]
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