Yen lower on new US plan
February 18, 2009
Yen lower on new US plan
Story link: Yen lower on new US plan
The US dollar gained on the yen and the euro on Wednesday on a new plan from the administration of US President Barack Obama that is designed to slow the number of home foreclosures in the United States.
The plan, worth $75 billion, is aimed a helping millions of US homeowners to refinance loans with Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE).
The yen also declined versus the euro and the Australian dollar on the possibility that a success for the Obama plan will reduce demand for the yen as a safe investment.
By nearly noon in New York, the yen traded at Â¥93.835 to the US dollar, at Â¥117.5877 to the euro and at Â¥59.8628 to the Aussie while the greenback was at $1.2531 to the euro.
The euro was hurt by the chance that the recession could hurt banks in the Eurozone.
Meanwhile, the Canadian dollar gained on its US counterpart on hopes that the Obama plan to reduce home foreclosures will revive investor interest in risky currency investments by helping the US economy toward recovery.
In late morning trade in New York the loonie traded at C$1.2596 to the US dollar.
- New Zealand Dollar: GBP to NZD Exchange Rate Tumbles after BoE Minutes & Australian Inflation - October 22, 2014
- Rupee Exchange Rate Today: GBP to INR Higher on Positive Outlook and BoE minutes - October 22, 2014
- GBP/USD and GBP/EUR Exchange Rate Forecasts Revised on Today's US CPI - October 22, 2014
- GBP/EUR Breaks 1.27 - Further Gains Forecast for Pound vs Euro on Exchange Rate Markets - October 22, 2014
- Pound to Swiss Franc Exchange Rate (GBP/CHF) Climbs as BoE Interest Rate Anticipation Concludes - October 21, 2014
- Exchange Rate Forecasts: Pound Sterling (GBP), Euro (EUR), US Dollar (USD) and Australian Dollar (AUD) Today - October 21, 2014
- Pound to Rand Exchange Rate weaker today as Chinese data supports emerging market currencies - October 21, 2014
- Best Pound to Canadian Dollar and Norwegian Krone Exchange Rates as Oil Price Tumble Again - October 21, 2014
- British Pound to Aus Dollar Exchange Rate Today: GBP vs AUD Softer as Aussie Gains Persist - October 20, 2014
- Canadian Dollar: GBP to CAD Exchange Rate Further Reverses Gains - Data in on Forecast - October 20, 2014
Daily Market Updates
Major Currency Forecasts
- Pound Sterling Forecast
- Euro Forecast
- American Dollar Forecast
- Australian Dollar Forecast
- Japanese Yen Forecast
- Swiss Franc Forecast
- New Zealand Dollar Forecast
- Canadian Dollar Forecast
- Norwegian Krone Forecast
- South African Rand Forecast
- Indian Rupee Forecast
- Singapore Dollar Forecast
- UAE Dirhams Forecast
- Turkish Lira Forecast
- Hong Kong Dollar Forecast
- Pound Euro Forecast
- Pound Dollar Forecast
- Pound Australian Dollar Forecast
- Pound Yen Forecast
- Pound Swiss Franc Forecast
- Pound NZ Dollar Forecast
- Pound Canadian Dollar Forecast
- Pound Krone Forecast
- Pound Rand Forecast
- Pound Rupee Forecast
- Pound Sing Dollar Forecast
- Pound Dirham Forecast
- Pound Lira Forecast
- Pound HK Dollar Forecast