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Day: February 6, 2013
February 62013
Yen Bounces After Touching Multi-Year Lows
The sell-off of the Japanese yen paused today after the currency reached lows not seen in several years, but bounced and rose against some majors, including the dollar, the euro and the pound. Today’s rally is not likely to be anything more than a small correction after the huge downfall. Nothing has changed for the currency fundamentally. The Japanese government is still keen on weakening the currency and a new Bank of Japan Governor will likely […]
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February 62013
Pound Mixed Ahead of BoE Meeting
The Great Britain pound fluctuated today as traders felt uncertainty ahead of tomorrow’s policy decision of the UK central bank. At the same time, the sterling outperformed the euro, which was weakened by problems of the eurozone. The Bank of England will announce its monetary policy decision tomorrow. Most analysts believe that the bank will leave the policy unchanged: the key interest rate will remain at the record low 0.5 percent and the asset purchase program […]
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February 62013
Euro a Little Lower as it Consolidates ahead of ECB
Euro appears to be in consolidation mode right now, and is a little bit lower against other majors right now as a result. It’s also not helping that some doubts, helped by renewed concerns about sovereign debt, are creeping into the picture. There have been a few renewed fears regarding sovereign debt in the eurozone today. Yields are rising a bit, and that has some concerned about the ability […]
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February 62013
US Dollar Gains as Economic Concerns Return
US dollar is heading higher today against its major counterparts, gaining ground as economic concerns return to the world stage. For now, greenback is up against high beta currencies as risk aversion makes an appearance. Broad weakness from other currencies is providing support for the US dollar right now. Concern about the pace of the global economic recovery is once again a driving factor. The poor retail sales […]
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February 62013
Thai Baht Weakened by Threat of Intervention
The Thai baht fell today on concerns that the Thai policy makers will intervene to curb appreciation of the currency, joining the so-called currency war. The baht, as well as other Asian currencies, was appreciating as capital inflows in Asia persisted. The appreciation led to worries that Thai exporters will suffer from the strong currency. Many nations (Japan among others) weaken their currencies to support exports, so why Thailand should stay […]
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February 62013
Australian Retail Sales Weaken Aussie Further
The Australian dollar fell for the second day against its US counterpart and declined against the Japanese yen as Australia’s retail sales unexpectedly fell in December, adding to signs of economic weakness of the South Pacific country. Retail sales were down 0.3 percent in December on a seasonally adjusted basis, falling at the same rate as in November. Growth by 0.3 percent was anticipated by analysts. Yesterday, the Australian currency was falling as the Reserve Bank of Australia left […]
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