Currencies decline on data
Story link: Currencies decline on data
Sterling was lower this week as a number of indicators led to the conclusion that the August move by the Bank of England to raise interest rates would likely not be followed immediately by further rate hikes. Even though some analysts still expect rates to rise in the UK one more time this year, […]
Australian dollar weakens
Story link: Australian dollar weakens
Sterling was weaker on Thursday after gains last week in the wake of the Bank of England’s surprise move to raise UK interest rates. Even though most analysts expect the Bank or hike rates one more time this year, new data that show inflation up less than expected for both producers and customers, higher […]
Producer price inflation numbers take US dollar lower
Story link: Producer price inflation numbers take US dollar lower
The dollar weakened again on Wednesday as new data showed that consumer price inflation grew less than had been expected in July. The new report, coupled with a weak producer price report on Tuesday, is persuading many analysts that interest rates in the United States might have reached a high point. Core consumer […]
Renminbi falls against greenback
Story link: Renminbi falls against greenback
The US dollar was weaker on Tuesday on weak new economic data that analysts believe will decrease the chance of interest rates being raised in September. Producer price inflation was up only 0.1 percent in July, less than had been expected, with core inflation actually down 0.3 percent. In addition, the Empire State […]
US Senators promise tariffs legislation if renminbi doesn’t rise
Story link: US Senators promise tariffs legislation if renminbi doesn’t rise
The US dollar weakened on Thursday as the Federal Reserve’s “Beige Book” report, released on Wednesday, provided anecdotal evidence that US economic growth is beginning to slow even though a new report showed that durable goods orders were up more than expected while unemployment levels were down.
The greenback was down 1.5 percent in the past […]
Swiss franc weaknes versus major currencies
Story link: Swiss franc weaknes versus major currencies
The US dollar strengthened Monday, but analysts disagreed on exactly why the greenback notched gains after three days of declines. Some called the gains a correction, while others felt it had to do with speculators who are betting that China will use the 1-year anniversary of the revaluation of the renminbi as an excuse […]
US dollar stronger
Story link: US dollar stronger
The US dollar strengthened Monday despite new capital inflows data showing that March inflows were at $69.8 billion, lower than had been predicted. Gains came as investors exited short positions not only against the dollar but against a number of other currencies as well.
At mid-afternoon in New York, the greenback had gained 0.7 percent […]
US dollar stronger
Story link: US dollar stronger
The US dollar strengthened Monday despite new capital inflows data showing that March inflows were at $69.8 billion, lower than had been predicted. Gains came as investors exited short positions not only against the dollar but against a number of other currencies as well.
At mid-afternoon in New York, the greenback had gained 0.7 percent […]
US dollar weaker despite data
Story link: US dollar weaker despite data
Strong new economic data in the United States on Wednesday did not help the dollar in its slide against the euro. The dollar was weaker not only in relation to the shared currency, but versus the Japanese yen and sterling as well.
Among the new data reported on the day was a hike in durable […]
US dollar weaker despite data
Story link: US dollar weaker despite data
Strong new economic data in the United States on Wednesday did not help the dollar in its slide against the euro. The dollar was weaker not only in relation to the shared currency, but versus the Japanese yen and sterling as well.
Among the new data reported on the day was a hike in durable […]
Yen declines while US dollar holds steady
Story link: Yen declines while US dollar holds steady
The Japanese yen lost value against major currencies on Monday after having made gains early in the session. The decline was blamed on technical factors and on the fact that Japanese importers had engaged in significant selling of yen and purchase of US dollars ahead of a public holiday. Also a possible factor […]
Sterling, greenback weaker on data
Story link: Sterling, greenback weaker on data
Sterling was weaker on Wednesday on the news that unemployment in the UK had grown at its fastest rate in thirteen years in February, as 14,600 new unemployment claims were filed during the month, many more than the expected 3,000 new claims. In addition, earnings growth was at 3.5 percent in January, far below […]
Yen down on low interest rate expectations
Story link: Yen down on low interest rate expectations
The Japanese yen lost ground in Europe on Wednesday morning as rumors circulated that interest rates in Japan could stay at or near zero for the immediate future even though the Bank of Japan looks to be nearly ready to abandon its loose monetary policy. Even though recent comments from government officials indicate that […]
Swiss franc strengthens on inflation, interest rate worries
Story link: Swiss franc strengthens on inflation, interest rate worries
While the European Central Bank kept interest rates where they were when it met on Wednesday, a change in the tone of comments accompanying the announcement of the decision ahs led some analysts to believe that the ECB could raise eurozone interest rates before the year is over. The remarks by the ECB president […]
China changes rules on renminbi; US dollar stronger on week
Story link: China changes rules on renminbi; US dollar stronger on week
On Friday, China’s central bank widened to 3 percent the band in which the renminbi may trade against non-dollar currencies, reducing the need for the bank to interfere in the currency markets. The move came on the same day as the G7 nations meet, lessening the chance that they will again urge China to […]
USD rallies while yen stronger
Story link: USD rallies while yen stronger
The US dollar rallied a bit on Monday, gaining value in relation to the euro and the Swiss franc, but it lost some ground to the yen.
The dollar gained 0.5 percent to $1.2375 by mid-day on Monday and it was up 0.5 percent as well against the Swiss franc, to SFr1.2536. It […]
Asian currencies strong on trading
Story link: Asian currencies strong on trading
Asian currencies were generally up on Tuesday, helped by China’s revaluation of the renminbi and by equity inflows.
For example, the South Korean won was up 0.5 percent on the day and has risen 2.3 percent since July 21 to Won1,020 in relation to the US dollar.
Similarly, the Singapore dollar was also […]
Dollar rally falters despite good economy news
Story link: Dollar rally falters despite good economy news
The US dollar fell again on Monday against the euro, sterling, and the yen. Its decline came despite the strongest report on US manufacturing this year.
Analysts are coming to the conclusion based on performance like this that the dollar’s rally has come to an end for the time being.
Some analysts […]
Restricted renminbi revluation hurts yen in weeks trading
Story link: Restricted renminbi revluation hurts yen in weeks trading
The yen’s performance this week put to rest all the speculation about what effect a revaluation of the renminbi would have on the yen.
The Japanese currency was down 2.1 percent to ¥197.37 in relation to sterling, lost 1.5 percent to ¥136.14 against the euro, and fell 0.9 percent to ¥112.24 in relation to […]
Asian currencies gain on revaluation
Story link: Asian currencies gain on revaluation
After China’s revaluation of the renminbi to Rmb8.11 to the dollar on Thursday, the South Korean won gained 1.5 percent on the US dollar to Won 1,020, while the Taiwan dollar was up 1.3 percent to T$31.54 against the US dollar. Both those countries also moved to limit gains.
The yen, which was […]
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