Yen drops versus all major currencies
Story link: Yen drops versus all major currencies
The yen was lower versus all major currencies on Monday on optimism that US bond insurer Ambac will keep its good credit rating, which sent investors looking for risky carry trades, which they often finance by selling the Japanese currency.
Also fueling optimism was news that there was less of decline in home sales in the […]
Emerging market currencies weaken on Turkish political developments
Story link: Emerging market currencies weaken on Turkish political developments
Despite gains early in the session, the US dollar had weakened by mid-afternoon trade in New York as new data on inflation in March came in lower than expected and the rate of business activity in the Midwest in April was not as vigorous as had been anticipated. Analysts said that if a survey […]
Euro candidate currencies gain on shared currency
Story link: Euro candidate currencies gain on shared currency
After gaining early in the session after China raised its interest rates on borrowing and lending by 27 basis points over the weekend, the Japanese yen weakened later in the session on gains by Asian equities markets. The yen dropped 0.5 percent to ¥156.30 versus the euro, while it fell 0.7 percent against the […]
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