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Day: March 4, 2014
March 42014
Swissie Loses Shine as Fears Recede
The Swiss franc tumbled today as the improving geopolitical situation made traders to lighten up some of their positions in safe assets, including the Swissie. The Japanese yen, another currency that is perceived to be safe, was even weaker, falling against its Swiss counterpart. The situation in Eastern Europe improved, allowing investors to take a breath and shed some of their positions in safe currencies. The franc fell because of this, but the yen […]
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March 42014
Yen Experiences Massive Sell-Off
The Japanese yen experienced a massive sell-off today as tensions in Eastern Europe eased, improving the sentiment among Forex traders and reducing need for safer currencies, which has supported the yen yesterday. Previously, the Japanese currency was rising as the conflict between Russia and Ukraine was escalating. Today, Russia pulled off troops from its western border with Ukraine and Russian President Vladimir Putin said he has no intention […]
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March 42014
US Dollar Index Drops as Risk Appetite Returns
Risk appetite is returning to the markets after risk aversion was the story yesterday. As risk appetite returns, the US dollar index is heading lower. Demand for higher yielding assets is on the rise, and the greenback isn’t keeping up as a result. It’s been an interesting few days on the world stage, and the issues in Ukraine are far from solved, although the receding prospect of war is adding to risk appetite. US dollar index […]
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March 42014
UK Pound Recovers After Earlier Drop
UK pound is regaining lost ground against the US dollar today. Earlier, sterling fell against the greenback after the release of the latest PMI data. Now, though, the UK pound is gaining against its low beta counterparts as risk appetite soars. The latest economic news out of the United Kingdom was somewhat disappointing, with the Construction PMI at 62.6. Estimates for February had put the PMI at 63.2, so the lower […]
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March 42014
Aussie Slows Rally After RBA, Gets Help from Housing Data
The Australian dollar was rising yesterday, but slowed its rally against the US dollar and the euro after Australia’s central bank left the cash rate at the record low and said that the exchange rate is still high. The Aussie continued to rise against the Japanese yen. The Reserve Bank of Australia left its main interest rate at 2.5 percent. The RBA commented on the exchange rate: The decline in the exchange rate seen to date will […]
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March 42014
Euro Drops as Political Stand-Off in Ukraine Persists
The euro was falling yesterday and maintained its losses today as the mounting tensions between Russia and Ukraine and threat of involvement of Western countries in the conflict made Forex trades stick to safer currencies. The euro declined against the US dollar, but was able to outperform the Great Britain pound. The shared European currency managed to erase losses versus the Japanese yen. It looks like Russia is growing the size of its military troops […]
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