News – Page 1090

March 12
2009

Yen Gains vs. Dollar for Third Day

The Japanese yen rose against the U.S. dollar for the third day in a row today as the global recession boosted the demand for the «safe haven» currencies, decreasing the attractiveness of the high-yielding assets. The yen also advanced significantly against the euro and the British pound that are vulnerable both to the yen and the dollar during the times […]

March 11
2009

Yen Gains as Chinese Exports Slump

The yen rose today against the other major currencies on Forex as the Chinas exports declined at a record fast pace and the largest Swiss bank reported an increased loss. According to the Chinas customs bureaus report the countrys trade surplus declined to the lowest level since February 2006; UBS reported $18 billion loss for the year 2008. After that the Japanese yen gained mostly against the […]

March 10
2009

Korean Won Rises as Asian Stocks Gain

The South Korean won rose for the third day against the U.S. dollar today as some Asian stock markets showed the growth and the high-yielding currencies were favored by the traders. The majority of the most-traded Asian currencies (except the Japanese yen) showed gains today that can be simply regarded as the correctional movement after one of the worst beginnings of the […]

March 9
2009

Pound Falls on HSBC’s Bad Loans

The British pound fell against all major currencies today on the concerns that the United Kingdoms largest bank will have a disastrous time handling the bad loans of its United States unit. The U. K. currency declined against the dollar and the euro as both the U.K. FTSE 100 benchmark index and the Japanese Nikkei 225 dropped during the late Asian and early […]

March 6
2009

USD Falls as Financial Turmoil in U.S. Worsens

The U.S. dollar declined today against the other major currencies, after showing a good performance yesterday, as the investors expect that the labor market reports, that are to be released today, will signal a further worsening of the recession in the United States. The Japanese yen is the only major currency that is rising against the greenback for the second day today. It started to react […]

March 5
2009

Indian Rupee Approaches Recent Record-Low

The Indian rupee declined against the U.S. dollar today, almost reaching a new record-low level, as the domestic companies converted to dollars in order to pay for the imported goods. Although, the risk-aversion level is quite moderate in the global markets today, the rupee falls as the Indian economy faces much greater risks among the other emerging countries. The drop in the dollar-denominated exports […]

March 4
2009

Dollar Up on Deeper Financial Turmoil

The U.S. dollar rose against the the Japanese yen and the Australian dollar today as the investors sought the safety for their funds after the yesterdays optimism vanished on the bad report for the Australian fourth quarter GDP change. The dollar went up against the yen for the second day today and also gained for the fourth day against […]

March 3
2009

Aussie Rises as RBA Leaves Rate Unchanged

The Australian dollar went up against all other major currencies today after the countrys central bank decided to leave the policy interest rate unchanged, unexpectedly stopping its most aggressive rate-cutting streak. The Reserve Bank of Australia left the rate unchanged at 3.25 percent today for the first time in seven month, stating that the record low interest rates and the governments spending are […]

March 2
2009

EUR Fell as Eastern Europe May Not Get Help

The single European currency declined with a rather strong gap against the U.S. dollar and the Japanese yen today as the leaders of the developed Eurozone countries said that the Eastern European banks will not receive any financial aid. The bank-devastating crisis is pressing hard on the European countries that havent adopted the euro yet, pushing down their currencies. The banks […]

February 20
2009

Rupee to Post Worst Weekly Drop This Year

The Indian rupee declined against the U.S. dollar today and is currently ready to show the biggest weekly drop since the beginning of the year as the slump of the U.S. stock markets was followed by the decline in the Asian markets. The Bombay Stock Exchange benchmark index (SENSEX) is currently falling by more than 2.5 percent. Such a strong decline in the stocks prompt foreign investment […]