Day: May 25, 2012

May 25
2012

Baht Posts Biggest Weekly Drop in 2011

The Thai baht dropped today, posting the biggest weekly loss this year. Foreign investors reduced holdings of the nation’s shared on fears that the crisis in Europe would slow global economic growth. Nalin Chutchotitham, an analyst at Kasikornbank, explained the situation: Investors are risk-averse and stock markets and Asian currencies can still test the weaker side. Importers may be buying the dollar as well because month-end demand is usually high and also […]

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May 25
2012

Euro Rallies to New Lows

The euro was rallying to new lows today, reaching the lowest level since 2010, on concerns that regional governments of Spain would meet obstacles in reaching capital markets. Artur Mas, the President of Catalonia, asked Spanish central government to aid regions access funding. Deputy Prime Minister Soraya Saenz de Santamaria said that the government is reviewing “with all caution” requests from regional governments to help them […]

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May 25
2012

US Dollar Strengthens as European Problems Continue

Earlier, the US dollar fell back a little bit on the Forex market. However, the greenback is once again higher against its European counterparts, gaining as uncertainty over Greece — and other countries in the eurozone — continues. US dollar is gaining against the euro and the Great Britain pound today, heading higher as risk aversion prevents Forex traders from preferring high beta currencies. European currencies are lower as continued concerns […]

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May 25
2012

Japanese Yen Remains Stronger Against European Currencies

The Japanese yen continues to appreciate against European currencies, thanks to the uncertainty in Europe. Concerns about what’s next for the eurozone are weighing on risk, and the Japanese yen is once again being used as a safe haven currency. Japanese yen is heading higher against European currencies like the euro and the Great Britain pound today. Once again, yen is receiving a boost as uncertainty in Europe — especially over Greece — […]

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May 25
2012

Canadian Dollar Remains Depressed by European Crisis

The Canadian dollar fell today, dropping for the fourth straight day against its US peer, as fears of a collapse of the eurozone made Forex traders prefer the US currency to the Canadian one. The currency was flat against the yen. The prospect of an exit of Greece from the eurozone is still haunting investors and is likely to persist until the elections in June. China and the United States also add to uncertainty from time to time as some indicators signal […]

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May 25
2012

Spike of EUR/USD Leads to Speculation About SNB Intervention

The Swiss franc fell after a spike of the EUR/USD currency pair lead to speculations that the Swiss National Bank may take additional measures to erode the role of the franc as a safe haven. Yesterday, for a short time, EUR/USD climbed to the highest level since March. The currency pair quickly pulled back, but that was enough to spur talks about another intervention by the SNB. There were rumors that the central bank plans to introduce […]

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