Day: January 7, 2013

January 7
2013

Rupiah Weakened by Fears that Fed’s QE May End This Year

The Indonesian rupiah declined today on worries that capital inflows into the country may shrink after the US Federal Reserve suggested that its stimulating program may end this year. The Fed’s hints about an end of quantitative easing worried Forex market participants and that was weakening demand for riskier currencies of emerging markets. Indonesia has its share of problems that hurt the local currency further. The current account deficit […]

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January 7
2013

Rand Drops vs. US Dollar After End of Holiday Season

The South African rand fell today after the holiday season ended as importers thought it is to good time to buy dollar after the local currency has rallied last month. The three-week holiday season has starter in December 17 and ended today. The rand was going down after importers returned to work and began buying dollar. The greenback itself was somewhat soft against most majors today following last […]

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January 7
2013

Euro Looks to Eke Out Gains against the US Dollar

Euro is paring its earlier losses to the US dollar, and looking to try to find some gains as the US session gets solidly underway. Without economic data, though, many traders are simply still considering last week’s news out of the Federal Reserve. Last week, the Federal Reserve indicated that its quantitative easing efforts might be coming to an end by the end of 2013. The news gave the US dollar a jolt, […]

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January 7
2013

Yen Heads Higher, Even After 12 Trillion Yen Extra Budget

Yen is heading higher today, thanks in large part to a combination of risk aversion and consolidation. After last week’s heady risk asset gains, many Forex traders are taking their profits, and re-positioning themselves for whatever comes next. The current state of affairs means that the yen is higher today, in spite of Japan’s latest budget announcement. The Japanese government just announced an extra budget of 12 trillion yen. Up […]

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