Day: May 27, 2013

May 27
2013

Bank of Israel Surprises Again, Shekel Weakens

The Bank of Israel surprised Forex market participants for the second time this month, cutting interest rates yet again on today’s meeting. The Israeli new shekel weakened after the decision. The BoI cut its main interest rate by 0.25 percentage point to 1.25 percent today, following the unexpected rate cut on May 13. The bank commented on the decision: The decision to reduce the interest rate for June 2013 by 0.25 percentage points, to 1.25 percent, […]

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May 27
2013

Won Gains as Exporters Sell Dollars

The South Korean won gained today as local exporters were selling dollar, while signs of economic growth attracted overseas investors to South Korean assets. Last week, the won has dropped to the lowest level since April 12, spurring exporters to convert their earnings to the local currency and profit from the favorable exchange rate. The Composite Consumer Sentiment Index rose from 102 in April to 104 in May, suggesting that the South […]

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May 27
2013

Aussie Drops on Fed Speculations, Recovers

The Australian dollar fell versus its US counterpart and the euro today, but managed to erase the losses later. The decline was caused by speculations that the US central bank will reduce its stimulating measures. Analysts predicted that tomorrow’s Conference Board report will show that confidence of US consumers improved from 68.1 to 70.7 this month. Such data would add to evidences of stable economic growth and could […]

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