News – Page 1089

March 26
2009

Korean Won Grows on Dollar’s Decline

The South Korean won, which is the outsider among the Asian currencies in the current year, rose to near the 2-month high against the U.S. dollar today as the latter declined on the lower risk-aversion mood of the currency market. The inflow of the investors foreign currency into the Korean stock market allowed the domestic banking institutions and exporters to fulfill their demand […]

March 25
2009

China Wants “Super-Currency” for Reserves

Chinas calls for creation of the super-national currency specifically for the global foreign exchange reserves state not only the Chinese point of view that the dollar is going to depreciate in the long-term perspective but also that China is going to play a major role in the process of creation of the new global financial structure. After the U.S. dollar fell at a fastest pace in its history against the […]

March 24
2009

Yen Drops on Toxic Assets Disposal

The Japanese yen declined against the other major currencies today as the Forex traders speculated that the U.S. plan to buy out the toxic assets is going to hurt the «safe haven» currencies, spurring the risk-hungry carry trade. During the early Asian trading session the U.S. dollar was also bearish against the euro and the pound as the investors dumped […]

March 23
2009

Dollar Vulnerable on Bank Help Plans

The dollar continued its decline against the euro and the pound today as the currency traders believe that the bank help plans by the U.S. administration will boost the demand for the high-yielding assets, including the currencies with higher interest rates. The U. S. currency wasnt alone in its depreciation today, the yen declined as well, as its safety became less attractive […]

March 20
2009

Dollar Ready to Post Worst Week vs. Euro

The U.S. dollar is currently heading for its worst week against the single European currency since the inception of euro on the markets prolonged reaction to the Feds pledge to increase dollar liquidity. The dollar is currently ready to renew its more than 2-month low against the euro, which was set yesterday. The spree of bullish days on EUR/USD lasts for 9 days already and the Forex […]

March 19
2009

Euro Declines in Correction Following Rally

The euro fell against the dollar and the yen today following the yesterdays unprecedented rally as the market participant speculate that ECB will have to follow Feds money-printing trend. The European currency rallied yesterday against the U.S. dollar after the Federal Reserve pledged to buy $300 billion in the U. S. Treasury securities, technically stating that it will print those money. The euro advanced by more […]

March 18
2009

Pound Declines before Employment Report

The Great Britain pound declined against the other major currencies today on speculations that the employment report that is scheduled for the release today will show that the situation with labor market is worsening. Despite the continued gains on the global stock markets and the elevated interest for the high-yielding assets, the pound sterling fell for the first day […]

March 17
2009

Aussie Rises to New Monthly Maximums

The Australian dollar reached the new monthly maximum the Japanese yen as the stock markets signaled growth for a third day on improved earnings of the banks. The currency experienced a minor decline during the day as the markets reacted on the RBA minutes stating the necessity of the further interest rate cuts. But then the growth followed. The Aussie also fell against […]

March 16
2009

Japanese Yen Falls for Third Day against Euro

The yen declined for the third day in a row against the dollar, the euro and the pound today as the Bank of Japan decided to buy the government debt and the stock markets rose during the Asian trading session. The G20 meeting resulted in a pledge to a collective easing of the monetary policy and fiscal stimulating of the economies to recover from the ongoing crisis. The […]

March 13
2009

New Zealand Dollar Surges to Monthly High

The New Zealand dollar propelled to the monthly high against the U.S. dollar today, rising for the second day, as the stock marked continued to grow globally, improving the appeal of the higher yielding currencies. The Australian counterpart of the NZD also rose today against the other major currencies but not at such a fast pace as the New Zealand dollar. The commodity […]