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Day: December 18, 2012
December 182012
US Dollar Falls Back as Safe Haven Demand Drops
US dollar is heading a little lower today against European currencies as safe haven demand drops. Risk appetite has made its appearance in the markets, and the euro and the pound are benefitting. For now, the dollar index is heading a little bit lower as Forex traders look for better yields, rather than safe haven. With the latest news indicating that an agreement on the fiscal cliff is close to being reached, the US […]
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December 182012
Euro Gets Help from Fiscal Cliff Hope
Euro is getting a little help from across the Atlantic as optimism about the fiscal cliff in the United States helps risk appetite. US President Barack Obama backed off on tax hikes, agreeing to allowing them only on those who make more than $400,000 a year. At the same time, House Speaker John Boehner agreed to give in and agree to tax hikes for some of the wealthiest. The good news about the fiscal cliff is […]
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December 182012
Swedish Krona Rises Even After Riksbank Lowers Repo Rate
The Swedish krona jumped today even after Sweden’s central bank had cut its target repo rate amid concerns about the financial crisis in Europe. There were speculations that the bank will not decrease interest rate next year, though it is not guaranteed. The Riksbank lowered its key interest rate by 25 basis points to 1 percent today. The bank explained the decision: The weak developments […]
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December 182012
Yen’s Rally Stalls, Can Turn to Fall
Yesterday’s rally of the yen stalled today on speculations that the new government will spur the Bank of Japan to bolster the struggling nation’s economy by weakening the currency. The two-day policy meeting of the BoJ will start tomorrow and many market participants believe that the bank will be implementing easing measures more boldly now, after the Liberal Democratic Party has won the elections. Newly elected Prime Minister Shinzo Abe said: We […]
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