October 31, 2008

Bank of Japan cuts interest rate to 0.3 percent

Story link: Bank of Japan cuts interest rate to 0.3 percent

The yen made gains after the Bank of Japan cut interest rates by 0.2 percent to 0.3 percent Friday on a mixed vote of four in favor of the cut as made, three favoring a slightly larger cut of 0.25 percent and one wanting no cut at all.
Later on in morning trade in New York, […]

October 29, 2008

US dollar weaker ahead of Fed rate decision

Story link: US dollar weaker ahead of Fed rate decision

The US dollar weakened Wednesday ahead of a decision by the US Federal Reserve on interest rates, due later in the day.
Expectations are that the Fed will cut US interest rates by half a percentage point, to 1 percent, at the end of its meeting today.
Helping other currencies to gains against the greenback were comments […]

October 28, 2008

Yen falls as equities see gains

Story link: Yen falls as equities see gains

The Japanese yen lost ground to the US dollar and the euro Tuesday after gains in equities markets on the chance that investors will be more enthusiastic about buying higher-yielding currencies.
In late morning trade in New York, the yen traded at ¥95.295 to the US dollar while it was at ¥118.9567 to the euro.
The […]

October 24, 2008

Yen at multi-year highs versus euro, USD

Story link: Yen at multi-year highs versus euro, USD

The yen hit a 13-year high versus the dollar and a six-year high in relation to the euro Friday as investors backed out of carry trades after big declines in global equities markets.
In late morning trade in New York the Japanese currency traded at ¥93.995 to the US dollar and at ¥119.4958 to the euro […]

October 22, 2008

Euro, pound weaker on rate speculation

Story link: Euro, pound weaker on rate speculation

The euro and the pound both weakened Wednesday on the likelihood that the European Central Bank and the Bank of England will cut interest rates again soon, with the euro finding its weakest level in more than four years against the yen, which gained on all major currencies during the day on a retreat from […]

October 21, 2008

Yen gains on euro, greenback

Story link: Yen gains on euro, greenback

The Japanese yen strengthened versus the euro and the dollar on the chance that central banks will cut interest rates again soon, while the dollar gained on the euro, also on interest rate speculation.
Speculation is running in the direction that the European Central Bank will cut another three-quarters of a percentage point off Eurozone interest […]

October 20, 2008

Bernanke comments help US dollar versus euro

Story link: Bernanke comments help US dollar versus euro

The US dollar strengthened in relation to the euro after US Federal Reserve Chairman Ben Bernanke said that there is reason to consider another fiscal stimulus package similar to the one passed earlier in the year by the US Congress that saw many taxpayers receive tax rebate checks in the mail.
It seemed unlikely, however, […]

October 15, 2008

Yen gains on flight from risk

Story link: Yen gains on flight from risk

The yen strengthened Wednesday in relation to the US dollar, the euro, and other currencies on concerns that the US is now in a recession and that other economies around the globe will follow and after equities markets around the globe suffered further declines that left investors largely uninterested in entering into risky carry trades.
At […]

October 14, 2008

Yen weaker on return to carry trades

Story link: Yen weaker on return to carry trades

The yen weakened Tuesday as investors returned to purchases of higher-yield currencies after global governments elaborated on plans to support banks, while the US dollar was lower versus the euro, the pound and other currencies as demand declined for the greenback.
In early afternoon trade in New York, the yen was at ¥139.675 to the euro […]

October 13, 2008

Euro, pound gain on pledges of help to banks

Story link: Euro, pound gain on pledges of help to banks

The euro saw gains Monday on promises by Eurozone officials to guarantee through the end of 2009 bank-debt issues with maturity dates up to five years and after G-7 leaders pledged to do everything necessary to fix credit markets after their meeting in Washington, D.C.
The pound also saw gains, with its jump in relation to […]

October 10, 2008

Pound declines on Iceland issue

Story link: Pound declines on Iceland issue

The pound weakened Friday on concerns that a dispute between the UK and Iceland over financial assets each nation holds in the other will intensify after UK Prime Minister Gordon Brown threatened to freeze Icelandic assets in the UK.
The argument is over who will compensate UK depositors with money in two Icelandic banks after Iceland’s […]

October 9, 2008

Yen lower as rate cuts take hold

Story link: Yen lower as rate cuts take hold

The Japanese yen reversed recent gains and weakened versus the US dollar, the euro, the Australian dollar and the New Zealand dollar Thursday after interest in carry trades revived on interest rate cuts from several Western and Asian central banks yesterday and today.
At right around noon in New York the yen traded at ¥100.68 […]

October 8, 2008

Yen stronger despite interest rate cuts

Story link: Yen stronger despite interest rate cuts

The Japanese yen strengthened Wednesday on the theory that interest rate cuts by several central banks will not be enough to encourage investors to put their money into high-risk carry trades in which they use low-yielding currencies such as the yen to finance purchases of higher-yielding currencies.
In a move to try to stem damage to […]

October 7, 2008

Yen weaker on US Fed move

Story link: Yen weaker on US Fed move

The yen weakened versus the euro and the US dollar Tuesday on more demand for carry trades after the US Federal Reserve said it will buy commercial paper - low-risk, low-return money-market securities issued by banks and corporations as an alternative to a line of credit to finance day-to-day expenditures such as payrolls.
The recent troubles […]

October 6, 2008

Euro weaker on credit mess

Story link: Euro weaker on credit mess

The euro weakened Monday as the credit crisis spread to Europe and banks there headed for bailouts while the yen saw gains as investors deserted carry trades amid chaos in the markets.
In Germany, a group including the German government and private banks and insurers mounted a rescue of Hypo Real Estate Holdings (FWB: HRX), the […]

October 3, 2008

Pound weakens on service sector data

Story link: Pound weakens on service sector data

The pound was weaker versus the US dollar for the week after new data showed that the UK service sector contracted at its fastest rate in 16 years in September and after house prices fell yet again there, making it likely that the Bank of England will cut UK interest rates when its Monetary Policy […]

October 1, 2008

USD gains on euro, pound

Story link: USD gains on euro, pound

The US dollar gained on the euro Wednesday on demand for US dollars from foreign banks and ahead of a Senate vote on the $700 billion bailout proposal and a proposal to raise FDIC protection on deposits from $100,000 to $250,000.
The euro declined ahead of Thursday’s meeting of the European Central Bank, where Eurozone interest […]


Daily World Currencies News from London		Thursday 20th of November 2008
Major Currencies: GBP USD Euro Yen Other Currencies: Australian Dollar Canadian Dollar Czech Koruna Egyptian Pound Forint Israeli Shekel Krona Krone New Zealand Dollar Peso Rand Real Renminbi Rouble Rupee Singapore Dollar Slovak Koruna Swiss franc Turkish Lira Won Zloty	October 31, 2008 Bank of Japan cuts interest rate to 0.3 percent Story link: Bank of Japan cuts interest rate to 0.3 percent The yen made gains after the Bank of Japan cut interest rates by 0.2 percent to 0.3 percent Friday on a mixed vote of four in favor of the cut as made, three favoring a slightly larger cut of 0.25 percent and one wanting no cut at all. Later on in morning trade in New York, […] October 29, 2008 US dollar weaker ahead of Fed rate decision Story link: US dollar weaker ahead of Fed rate decision The US dollar weakened Wednesday ahead of a decision by the US Federal Reserve on interest rates, due later in the day. Expectations are that the Fed will cut US interest rates by half a percentage point, to 1 percent, at the end of its meeting today. Helping other currencies to gains against the greenback were comments […] October 28, 2008 Yen falls as equities see gains Story link: Yen falls as equities see gains The Japanese yen lost ground to the US dollar and the euro Tuesday after gains in equities markets on the chance that investors will be more enthusiastic about buying higher-yielding currencies. In late morning trade in New York, the yen traded at ¥95.295 to the US dollar while it was at ¥118.9567 to the euro. The […] October 24, 2008 Yen at multi-year highs versus euro, USD Story link: Yen at multi-year highs versus euro, USD The yen hit a 13-year high versus the dollar and a six-year high in relation to the euro Friday as investors backed out of carry trades after big declines in global equities markets. In late morning trade in New York the Japanese currency traded at ¥93.995 to the US dollar and at ¥119.4958 to the euro […] October 22, 2008 Euro, pound weaker on rate speculation Story link: Euro, pound weaker on rate speculation The euro and the pound both weakened Wednesday on the likelihood that the European Central Bank and the Bank of England will cut interest rates again soon, with the euro finding its weakest level in more than four years against the yen, which gained on all major currencies during the day on a retreat from […] October 21, 2008 Yen gains on euro, greenback Story link: Yen gains on euro, greenback The Japanese yen strengthened versus the euro and the dollar on the chance that central banks will cut interest rates again soon, while the dollar gained on the euro, also on interest rate speculation. Speculation is running in the direction that the European Central Bank will cut another three-quarters of a percentage point off Eurozone interest […] October 20, 2008 Bernanke comments help US dollar versus euro Story link: Bernanke comments help US dollar versus euro The US dollar strengthened in relation to the euro after US Federal Reserve Chairman Ben Bernanke said that there is reason to consider another fiscal stimulus package similar to the one passed earlier in the year by the US Congress that saw many taxpayers receive tax rebate checks in the mail. It seemed unlikely, however, […] October 15, 2008 Yen gains on flight from risk Story link: Yen gains on flight from risk The yen strengthened Wednesday in relation to the US dollar, the euro, and other currencies on concerns that the US is now in a recession and that other economies around the globe will follow and after equities markets around the globe suffered further declines that left investors largely uninterested in entering into risky carry trades. At […] October 14, 2008 Yen weaker on return to carry trades Story link: Yen weaker on return to carry trades The yen weakened Tuesday as investors returned to purchases of higher-yield currencies after global governments elaborated on plans to support banks, while the US dollar was lower versus the euro, the pound and other currencies as demand declined for the greenback. In early afternoon trade in New York, the yen was at ¥139.675 to the euro […] October 13, 2008 Euro, pound gain on pledges of help to banks Story link: Euro, pound gain on pledges of help to banks The euro saw gains Monday on promises by Eurozone officials to guarantee through the end of 2009 bank-debt issues with maturity dates up to five years and after G-7 leaders pledged to do everything necessary to fix credit markets after their meeting in Washington, D.C. The pound also saw gains, with its jump in relation to […] October 10, 2008 Pound declines on Iceland issue Story link: Pound declines on Iceland issue The pound weakened Friday on concerns that a dispute between the UK and Iceland over financial assets each nation holds in the other will intensify after UK Prime Minister Gordon Brown threatened to freeze Icelandic assets in the UK. The argument is over who will compensate UK depositors with money in two Icelandic banks after Iceland’s […] October 9, 2008 Yen lower as rate cuts take hold Story link: Yen lower as rate cuts take hold The Japanese yen reversed recent gains and weakened versus the US dollar, the euro, the Australian dollar and the New Zealand dollar Thursday after interest in carry trades revived on interest rate cuts from several Western and Asian central banks yesterday and today. At right around noon in New York the yen traded at ¥100.68 […] October 8, 2008 Yen stronger despite interest rate cuts Story link: Yen stronger despite interest rate cuts The Japanese yen strengthened Wednesday on the theory that interest rate cuts by several central banks will not be enough to encourage investors to put their money into high-risk carry trades in which they use low-yielding currencies such as the yen to finance purchases of higher-yielding currencies. In a move to try to stem damage to […] October 7, 2008 Yen weaker on US Fed move Story link: Yen weaker on US Fed move The yen weakened versus the euro and the US dollar Tuesday on more demand for carry trades after the US Federal Reserve said it will buy commercial paper - low-risk, low-return money-market securities issued by banks and corporations as an alternative to a line of credit to finance day-to-day expenditures such as payrolls. The recent troubles […] October 6, 2008 Euro weaker on credit mess Story link: Euro weaker on credit mess The euro weakened Monday as the credit crisis spread to Europe and banks there headed for bailouts while the yen saw gains as investors deserted carry trades amid chaos in the markets. In Germany, a group including the German government and private banks and insurers mounted a rescue of Hypo Real Estate Holdings (FWB: HRX), the […] October 3, 2008 Pound weakens on service sector data Story link: Pound weakens on service sector data The pound was weaker versus the US dollar for the week after new data showed that the UK service sector contracted at its fastest rate in 16 years in September and after house prices fell yet again there, making it likely that the Bank of England will cut UK interest rates when its Monetary Policy […] October 1, 2008 USD gains on euro, pound Story link: USD gains on euro, pound The US dollar gained on the euro Wednesday on demand for US dollars from foreign banks and ahead of a Senate vote on the $700 billion bailout proposal and a proposal to raise FDIC protection on deposits from $100,000 to $250,000. The euro declined ahead of Thursday’s meeting of the European Central Bank, where Eurozone interest […]
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