News – Page 1099

October 29
2008

Dollar Uncertain Before Interest Rate Decision

The U.S. dollar traded with an alternate success against the other major currencies as the investors are uncertain before the Feds interest rate meeting today and the state of the global financial system. After a strong growth on the U.S. stock markets yesterday and the second day of a reasonably fast advancement of the Asian stock markets, the investors are unsure whether to continue dumping […]

October 28
2008

Yen Snaps Earnings amidst Intervention Talks

The Japanese yen posted the first daily decline against the euro and the pound and the second against the U.S. dollar as the Asian stock markets rebounded and the intervention talks arose in Japan. The extremely fast growth of the yen for almost 6 days set up the speculations that the Japanese central bank may use a currency interventions to support the […]

October 27
2008

Won Falls After Unexpected Rate Cut by BoK

The South Korean won continued its decline against the U.S. dollar after the Bank of Korea unexpectedly cut the interest rates by the record value of 75 basis points today, struggling against the worst crisis since 1998 Asian financial crash. The Bank of Korea lowered the countrys benchmark rate from 5 percent to 4.25 percent at an emergency meeting today after cutting the rate by 25 basis points on October […]

October 24
2008

Yen at 13-Year High vs. Dollar on Higher Risks

The Japanese yen rose up to the 13-year high versus the U.S. dollar and the new long-term maximums against the other major Forex currencies today as the high risk carry trades were shunned by the traders. The yen also climbed to the highest level against the euro in last 6 years as the probability of the recession in the Eurozone countries rose significantly. The spread […]

October 23
2008

Rupee Declines More as Stocks Tumble

The Indian rupee continued to fall against the U.S. dollar and the Japanese yen today as the Asian stock markets fell again, spurring the outflow of the capital from the emerging markets. The Indias central bank allowed the domestic companies to attract more foreign loans yesterday, lifting the limit imposed last year to cool down the financial markets. That effort failed […]

October 22
2008

Pound Slides on King’s Recession Outlook

The Great Britain pound dropped to the lowest rates in several years against the dollar and the yen and the weekly low against the euro today after the BoE Governor Mervyn King said that the recession is very likely due to the worst banking crisis since World War I. The pound fell to the lowest level since September 2003 against the U.S. dollar […]

October 21
2008

Dollar Strengthens after Stimulus Proposal

The U.S. dollar rose today against other major currencies, except the yen, after the Federal Reserve Chairman Ben Bernanke proposed further measures to provide more liquidity and credit confidence to the U.S. economy. Although the counter-crisis measures are taken by the various countries with the developed economies, but the most-benefiting currencies are the dollar and the Japanese yen, […]

October 20
2008

Japanese Yen Falls after Bank Rescues

The Japanese yen fell today against the high-yielding currencies (including the Forex majors) after the bank-rescuing measures of the various global central banks helped to cut the inter-bank money-market interest rates. The South Koreas measures to provide $100 billion guarantee on the domestic money market helped to ease the debts of the financial companies in the Asian region. The support of the liquidity offer from […]

October 17
2008

Korean Won Recovers from Record Low

The South Korean won rose today against the U.S. dollar, after posting a largest drop in more than 10 years yesterday, as the financial markets showed growth in U.S. and Asia. The countrys central bank said that it will be working with the local banks directly to provide the needed foreign currency liquidity. Analysts believe that the Bank of Korea should guarantee the foreign debts […]

October 16
2008

Malaysian Ringgit at 21-Month Low

The Malaysian ringgit declined to the lowest level in more than 21 months today as the concerns about the global economy growth rose and the stock markets tumbled world-wide. This Asian currency fell yesterday and continued to weaken today after the U.S. retail sales were reported with a biggest drop in the last 3 years yesterday. U.S. and European stock markets posted large […]