By: Barbara Zigah Unexpectedly weak data from the U.K.’s manufacturing sector pushes back the likelihood of an interest rate hike sending the Pound Sterling broadly lower in Asian trading. As reported at 2:34 p.m. (JST) in Tokyo, the Pound Sterling traded lower against the safe haven Swiss Franc at 1.4180, a decline of 1.5%. Against the U.S. Dollar, the Pound posted its largest single day drop in more than three months, falling...
|
By: Barbara Zigah With commodity prices beginning to stabilize, the Euro has been holding tight to recent gains during Asian trade. Some traders expect the Euro to come under renewed pressure, however, if and when more negative news on the Eurozone’s escalating fiscal troubles arrives. As reported at 2:00 p.m. (JST) in Tokyo, the Euro was slightly lower against the U.S. Dollar, trading at $1.4392, a decline of 0.1% in the...
|
By: Barbara Zigah With the euphoria over the news of the al-Qaeda leader’s death now beginning to wane, the U.S. Dollar is hovering close to the 3-year low struck last week. As reported at 2:27 p.m. (JST) in Tokyo, the U.S. Dollar Index was at 73.153 .DXY, up .28%, yet just off the 72.722 .DXY low struck last week in New York. Analysts insist that, given the ultra-loose monetary policy of the U.S. Federal Reserve, it’s only...
|
By: Barbara Zigah In early trading in Tokyo, the common currency edged higher against the U.S. Dollar, off a 3-week low, supported by early indications of some restabilization in the commodities markets. Analysts note, however, that Greek fiscal problems will continue to put pressure on the Euro until a path to resolution is clear, and unwinding of long positions in EUR/USD are likely in the short term as more negative news...
|
By: Barbara Zigah Ahead of today’s meeting of the European Central Bank’s rate setting committee, the common currency Euro has been rising toward a 17-month peak against the U.S. Dollar in Asian trade. Investors continue to speculate that the divergent policies of the ECB and the Federal Reserve Bank will benefit the Euro, though some analysts believe that recent comments from ECB officials suggest that further tightening...
|
By: Barbara Zigah Following yesterday’s press conference held by Ben Bernanke, the chairman of the U.S. Federal Reserve Bank, who fielded questions on the likely direction of the U.S. economy, the U.S. Dollar slipped to new multi-year lows against major currencies. As reported at 2:47 p.m. (JST) in Tokyo, the U.S. Dollar Index, a measure of the greenback’s strength against other major currencies, slipped to a 3-year trough...
|
By: Barbara Zigah Following last week’s steep fall, the common currency Euro bounced in early Asian trading, rising against the U.S. Dollar and Japanese Yen. As reported at 2:25 p.m. (JST) in Tokyo, the Euro gained 0.3% against the greenback to trade at $1.463; late last week, the Euro lost 3.3% and struck a 3-week trough of $1.4310 following unsubstantiated rumors that Greek was considering a pullout from the Eurozone. Versus...
|
By: Barbara Zigah Yesterday’s death of Osama bin Laden is making international headlines, as analysts focus on how it will affect everything from the U.S. army presence in the region to Obama’s popularity in the polls. But when it comes to Forex trading, the only question to ask is how the death of Osama bin Laden will affect the value of the U.S. Dollar. A quick look at how the currency fluctuated when Saddam Hussein was...
|
By: Barbara Zigah With investors speculating that the Reserve Bank of Australia is likely to raise interest rates sooner than later given a higher inflation forecast, the Australian Dollar rose against the U.S. Dollar. As reported at 1:25 p.m. (JST) in Tokyo, the Aussie traded at $1.0687 against the greenback, up from $1.0579 in New York trading. It also moved higher against the Japanese Yen, trading at 85.94 Yen, up from...
|
By: Barbara Zigah The greenback continues to lose ground against major currencies, with the U.S. dollar Index holding close to a 3-year low in Asian trading, and likely to see the biggest weekly drop since mid-January. As reported at 3:00 p.m. (JST) in Tokyo, the U.S. Dollar Index, which measures the greenback’s strength against other major currencies, slipped to 73.030 .DXY, a 0.1% decline and near the 72.871 .DXY low struck...
|
