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Day: June 24, 2013
June 242013
Can Dollar Extend Last Week’s Rally?
The dollar showed amazing performance last week, gaining against other most-traded currencies. Will it be able to extend the rally or is a sharp correction incoming? The Federal Reserve and its Chairman Ben Bernanke spoke and the comments led to the huge rally for the dollar. Some kind of correction after such big move in one direction could be expected and, indeed, the dollar gave away part of its gains today. Yet […]
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June 242013
Won Reaches One-Year Low vs. Dollar
The South Korean won fell today, touching the lowest level in a year against the US dollar, as the Forex market stayed in the risk-aversion mode after the US Federal Reserve signaled last week about a possible end to quantitative easing. Fear of stimulus reduction reigned the market last week, bringing the dollar up and other currencies down. Higher-yielding assets slowed their decline by the weekend, but it looks like the drop has resumed […]
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June 242013
Aussie Gains Some Ground after Earlier Drop
Australian dollar has been struggling a bit recently, but today there has been some gains, following a bit of weakness. But, even with the Aussie higher right now, is there a chance that the Down Under currency could head lower again? Aussie headed lower earlier, thanks in large part to the issues out of China. With a cash crunch in China threatening the world’s second-largest economy (and one of Australia’s […]
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June 242013
Euro Drops Amidst China, Eurozone Emerging Market Problems
Euro is heading lower today as risk aversion makes an appearance. China’s stocks slid unexpectedly, and many are starting to look at the emerging markets in the eurozone as problem areas. With bond yields on the rise in the periphery, there are concerns of yet another eurozone crisis. Risk in the markets in general took a hit today as Chinese stocks dropped dramatically. Shanghai saw some serious losses, and that is weighing on risk appetite all […]
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June 242013
Weakness of Polish Zloty Leaves Little Room for Interest Rate Cut
The Polish zloty fell today. The recent weakness of the currency led to speculations that the central bank will not be able to cut interest rates again as this can damage the zloty further. Andrzej Kazmierczak, the member of the Monetary Policy Council of the National Bank of Poland, said: Rate cuts obviously hurt the zloty and if the current pace of depreciation continues, it could end up having a devastating impact on bond prices and investor […]
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