Day: December 26, 2014

December 26
2014

Yen Falls vs. Dollar on Poor Data, Stays Resilient vs. Pound & Euro

The Japanese yen fell against the US dollar and the Great Britain pound today due to negative macroeconomic data. The drop was small, and the currency managed to gain against the euro. Almost all today’s reports from Japan were bad. Inflation slowed while both average cash earnings and industrial production dropped unexpectedly. The data suggests that Japan’s path to economic recovery is not straightforward and there will be difficulties. […]

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December 26
2014

Ruble Halts Its Impressive Rally

The Russian ruble sank today, halting it biggest weekly rally in 16 years. The drop was substantial though it did not erase the weekly gain completely. The ruble was rallying with the help of Russia’s government and the central bank. Yet without fundamental reasons for a rally, it was hard to the Russian currency to continue move up. The ruble lost 38 percent of its value in 2014 — the worst year since 1998 […]

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December 26
2014

Malaysian Ringgit Gains After Excessive Losses

The Malaysian ringgit gained today, demonstrating the biggest gain in a week, following its previous losses. The most likely reason for the rally is that the market considered the previous decline excessive. Analysts think that today’s gains of the ringgit were just a technical bounce due to the oversold status of the currency. Traders were selling the ringgit earlier because of the drop of oil prices and the outlook for monetary tightening from the Federal Reserve. The currency is still […]

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