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Day: October 9, 2014
October 92014
Pound Higher After BoE Meeting
The Bank of England made no surprise, keeping its monetary policy on hold. Yet the Great Britain pound was still able to trim its losses versus the Japanese yen as well as to keep rallying against the US dollar. The BoE announced today: The Bank of Englandâs Monetary Policy Committee at its meeting on 8 October voted to maintain Bank Rate at 0.5%. The Committee also voted to maintain the stock of purchased assets financed by the issuance […]
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October 92014
Ringgit Profits from Fed Minutes
The Malaysian ringgit, as well as most other currencies, continued to gain against the US dollar at today’s trading session after yesterday’s policy minutes from the Federal Reserve hurt the appeal of the greenback. The Fed minutes damped bets on an early interest rate hike from the US central bank, driving the dollar lower. This alleviated pressure on riskier currencies of emerging markets, including the ringgit, allowing them to rally. It is not clear […]
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October 92014
UK Pound Gains Ground Today
After struggling recently, the UK pound is gaining a little ground today. Recently released data is helping the sterling, especially as the economic divergence between the United Kingdom and the eurozone remains pronounced. After seeing some unexpected weakness earlier, the UK pound is turning around and making some gains against some of its major counterparts. The pound is seeing success against the dollar and the euro today, even though it […]
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October 92014
Loonie Struggles in Currency Trading
Canadian dollar is struggling a bit in currency trading on FX market after some gains earlier. Loonie is down against European currencies, and is seesawing between gains and losses when it comes to the US dollar. Loonie got a bit of a boost yesterday as the situation with the US dollar looked a little more uncertain than originally expected. The minutes from the latest FOMC meeting show that some members are […]
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October 92014
EUR/USD Retreats from Highs
EUR/USD was rising today, reaching the highest level since September 24, but was unable to keep gains and retreated. Mario Draghi, President of the European Central Bank, added to the currency’s weakness, saying that there is need to lift inflation from “excessively low level”. (Event C on the chart.) Experts speculated that the ECB is left with few instruments to affect inflation except for the exchange rate. Initial jobless […]
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October 92014
Ending My EUR/CHF Carry Trade
In September of 2011, Swiss National Bank has given a nice carry trade opportunity to many FX traders. After 3 years of keeping my EUR/CHF long position open, I have finally decided to close it today. The reason is simple: if a carry trade does not yield a positive overnight swap, it can no longer qualify as a carry trade. Today, I have noticed that the long-side swap has changed […]
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