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Day: November 23, 2012
November 232012
GBP/USD & GBP/JPY Climb on UK Mortgage Approvals
The Great Britain pound rose today against the US dollar and the Japanese yen after the report showed an increasing number of mortgage approvals last month. The sterling remained weak versus the euro due to optimism about a bailout for Greece. The number of mortgage approvals increased from 31,544 in September to 33,039 in October. Analysts have expected an increase to about 32,300. The better-than-expected data sparked hopes that the United Kingdom is on track to recovery. Traders […]
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November 232012
Aussie, Loonie Termed Reserve Currencies
The rumors have been confirmed, and the Australian dollar and the Canadian dollar are being considered reserve currencies. The International Monetary Fund has asked that countries include their Aussie and loonie holdings in reserve statistics starting next year. The move by the IMF is seen, by some, as one that has been long in coming. Practically speaking, central banks have already been expanding their holdings to include the Aussie and the loonie, since […]
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November 232012
Japanese Yen Mostly Lower as Risk Appetite Returns
Even though markets are somewhat cautious about next week’s risk events, some of that is fading as risk appetite returns — at least for today. The yen, which had the upper hand in earlier trading, is heading lower now as Forex traders look for higher yields. Yen is pulling back against the euro and the UK pound right now, heading lower as Forex traders turn to high beta currencies […]
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November 232012
Won Drops as on Intervention Worries
The South Korean won fell today on worries that the government may intervene to weaken the currency. The concerns overshadowed the positive influence of optimism about economic growth in China. The won has been the best performer among the 11 major Asian currencies since the end of June. It looks like South Korea’s lawmakers are not pleased with the currency’s strength as Deputy Finance Minister Choi Jong Ku demonstrated displeasure with […]
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November 232012
Euro Reaches Monthly High Against Dollar
The euro advanced today, reaching the highest level in a month against the US dollar, as Germany’s confidence improved and economy continued to expand. The news demonstrated that at least some countries of the eurozone may avoid recession, increasing the appeal of the euro. The Ifo Business Climate index increased from 100.00 in October to 101.4 in November. Germany’s gross domestic product grew 0.2 percent in the third quarter of 2012, following the 0.3 percent rise in the second quarter. […]
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November 232012
US Dollar Remains Weak vs. Yen, Attempts to Gain vs. Euro
The US dollar erased its gains versus the Japanese yen yesterday and continued the decline today. The greenback was soft against the euro on yesterday’s trading session, but gained at the beginning of today’s trading session. The dollar was soft amid good news from Europe and China. The data positive data from the United States also damped demand for the safety of the US currency. All in all, the outlook for the global economy has become brighter […]
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