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.
- 2.5000+ Best Rate Forecast for Pound Sterling to New Zealand Dollar GBP NZD Today - September 1, 2015
- FX Pound Sterling GBP Data Highlights for Week Commencing Monday 31st August: Will GBP/EUR Rise? - September 1, 2015
- Losses Forecast for Pound Sterling vs USD Exchange Rate, Gains vs AUD NZD CAD - August 28, 2015
- Pound Sterling FX Outlook vs Euro, US Dollar & Swiss Franc - August 28, 2015
- Losses Forecast for Pound Sterling GBP vs AUD, NZD: Commodity Currencies Rally Today - August 27, 2015
- Today’s Currency News British Pound Sterling Exchange Rate Forecast vs EUR USD CAD - August 27, 2015
- Pound Sterling Forecast to Improve vs Euro (EUR) Once More: GBP-EUR Predictions - August 26, 2015
- FX News: GBP USD Exchange Rate Forecast to Fall; Pound Kiwi Drops GBP NZD - August 26, 2015
- Pound Sterling GBP Forecast to Drift Lower against Australian Dollar AUD, New Zealand Dollar NZD GBP forecast lower vs AUD NZD - August 25, 2015
- Pound Sterling GBP Jumps against AUD & New Zealand Dollar NZD : Exchange Rate Gains Forecast to be Ephemeral - August 25, 2015
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