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Day: December 13, 2013
December 132013
Aussie Ends Friday with Gains, Frustrating Stevens
The Australian dollar ended Friday with gains even though the central bank’s chief signaled that policy makers would like the currency to weaken. The Aussie was still down heavily over the week, being the worst performer among most-traded currencies. Reserve Bank of Australia Governor Glenn Stevens explained that weaker currency is preferable to lower interest rates as a way to boost economic growth, saying that AUD/USD at 0.85 […]
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December 132013
Brazilian Real Suffers from Fed Tapering Speculations
The Brazilian real was fluctuating between gains and losses today as traders were weighing chances of US Federal Reserve stimulus tapering against prospects for an intervention from the Brazilian central bank. The currency trades below the opening level as of now. The real has lost 5 percent of its value this quarter. Alexandre Tombini, Governor of the Central Bank of Brazil, reiterated this week his pledge to intervene supporting the currency. Meanwhile, investors […]
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December 132013
Peso Stronger After Chilean Central Bank Avoids Interest Rate Cut
The Chilean peso advanced today after the nation’s central bank refrained from an interest rate cut on yesterday’s monetary policy meeting as inflation accelerated more than was expected. The Central Bank of Chile kept its main interest rate at 4.5 percent. The central bank issued rather downbeat statement: The Chilean economy has been gradually losing strength. Output is growing slightly below trend, and a slowdown is observed […]
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December 132013
Japanese Rebounds as Risk Aversion Appears
Risk aversion is back as US data and Fed taper expectations weigh on global stocks. The yen is rebounding against its major counterparts, paring losses seen yesterday. Recently, the yen hit a low not seen since 2008 against the US dollar. However, the yen is rebounding now, thanks in large part to the fact that risk aversion is making its appearance right now. Data out of the United […]
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December 132013
Pound Weaker vs. Dollar Ahead of Fed Meeting
The Great Britain pound remained soft against the US dollar as the date of the December monetary policy meeting of the Federal Reserve is nearing and talks about potential stimulus reduction intensify. The currency was higher against other majors, including the euro and the Japanese yen. The Fed will meet very soon, on December 18 to be specific. Recent positive macroeconomic data and signs of budget agreement added fuel to speculations about quantitative easing […]
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