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Day: December 15, 2016
December 152016
Euro Loses Ground Against Major Currencies After Fed Interest Rate Hike
The euro has significantly weakened against the US dollar during today’s session following yesterday’s interest rate hike by the Fed. The euro also started the day by gaining ground against the Japanese Yen and the pound sterling as it hit major highs and lows before settling to trade at moderate price levels. The EUR/USD pair has largely been affected by divergent monetary policies from the European Central Bank and the US Federal Reserve. This […]
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December 152016
Euro Loses Ground Against Major Currencies After Fed Interest Rate Hike
The euro has significantly weakened against the US dollar during today’s session following yesterday’s interest rate hike by the Fed. The euro also started the day by gaining ground against the Japanese Yen and the pound sterling as it hit major highs and lows before settling to trade at moderate price levels. The EUR/USD pair has largely been affected by divergent monetary policies from the European Central Bank and the US Federal Reserve. This […]
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December 152016
EUR/USD Reaches Record Low in Almost 14 Years
EUR/USD fell today, touching the lowest level since the early January 2003. As of now, the currency pair rebounded from the low but still trades far below the opening level. Yesterday’s Federal Reserve policy announcement continued to feed the dollar’s strength, and with today’s economic reports from the United States being either in line with expectations or better, there is no reason for the greenback to stop its rally. Talks about […]
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December 152016
US Dollar Soars to Its Highest Level Since 2002
The US dollar surged to its strongest level in 14 years on Thursday, after a monetary policy decision from the Federal Reserve yesterday carried hints of a possible accelerated pace of increasing interest rates in the coming year. The Federal Open Market Committee released its policy statement at 19:00 GMT on Wednesday, which said that the central bankâs benchmark interest rate was raised by 0.25%. The move was widely expected by investors everywhere […]
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December 152016
US Dollar Soars to Its Highest Level Since 2002
The US dollar surged to its strongest level in 14 years on Thursday, after a monetary policy decision from the Federal Reserve yesterday carried hints of a possible accelerated pace of increasing interest rates in the coming year. The Federal Open Market Committee released its policy statement at 19:00 GMT on Wednesday, which said that the central bankâs benchmark interest rate was raised by 0.25%. The move was widely expected by investors everywhere […]
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December 152016
Norwegian Krone Down vs. US Dollar Following Norges Bank Meeting
The Norges Bank (Norway’s central bank) was one of the central banks that were conducting policy meetings today and decided to keep their monetary policies unchanged. The Norwegian krone (as well as most other currencies) traded below the opening level against the US dollar after the meeting. The Norges Bank decided to leave its main interest rate at 0.5% at today’s meeting. Governor Ãystein Olsen said in the statement: Our current assessment […]
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December 152016
Norwegian Krone Down vs. US Dollar Following Norges Bank Meeting
The Norges Bank (Norway’s central bank) was one of the central banks that were conducting policy meetings today and decided to keep their monetary policies unchanged. The Norwegian krone (as well as most other currencies) traded below the opening level against the US dollar after the meeting. The Norges Bank decided to leave its main interest rate at 0.5% at today’s meeting. Governor Ãystein Olsen said in the statement: Our current assessment […]
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December 152016
Swiss Franc Soft After SNB Meeting
The Swiss franc was generally soft today (though not against the euro) after the Swiss National Bank kept interest rates in the negative territory and reiterated that it will continue to intervene on the currency markets to weaken the Swissie. The SNB made no changes to its policy today, leaving the midpoint of the target range for the three-month Libor at 0.75%. As for the currency, the central bank said: The negative interest rate and the SNBâs willingness to intervene in the foreign exchange […]
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December 152016
Swiss Franc Soft After SNB Meeting
The Swiss franc was generally soft today (though not against the euro) after the Swiss National Bank kept interest rates in the negative territory and reiterated that it will continue to intervene on the currency markets to weaken the Swissie. The SNB made no changes to its policy today, leaving the midpoint of the target range for the three-month Libor at 0.75%. As for the currency, the central bank said: The negative interest rate and the SNBâs willingness to intervene in the foreign exchange […]
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December 152016
Australian Dollar Strong After Employment Report
The employment report released from Australia during the Asian trading session was mixed, but that did not prevent the Australian dollar from beating most of its rivals, though not the very strong US dollar. Australia’s employment grew by 39,100 in November from October, much more than analysts had predicted (17,600). The October increase got a big positive revision from 9,800 to 15,200. At the same time, the unemployment […]
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