Conference Board index helps USD

Story link: Conference Board index helps USD

The US dollar strengthened in relation to the euro and the yen Monday, overcoming earlier weakness stemming from worries about US consumer confidence.
Gains for the greenback came on strength in global equities markets and on a gain in leading US economic indicators after the Conference Board’s index of leading indicators added 0.1 percent in April […]

Consumer confidence, oil prices hit dollar

Story link: Consumer confidence, oil prices hit dollar

The US dollar was weaker versus the euro and the yen on Friday on a decline in US consumer confidence and another spike in crude oil prices.
The Reuters/University of Michigan survey on consumer confidence was at 59.5 in May, down from 62.6 in April, the lowest it has been in nearly 28 years.
Meanwhile, crude oil […]

Dollar weakens; pound up on producer prices

Story link: Dollar weakens; pound up on producer prices

The US dollar was weaker versus the euro after earlier gains Monday while the pound saw gains on a report of higher producer prices in the UK.
The dollars declines came after a G-7 report that warned that fluctuations in exchange rates could hurt the global economy but did not mention any initiatives to support the […]

Pound weakens on interest rate possibilities

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The pound weakened versus the US dollar on Wednesday on the continuing possibility that the Bank of England will cut interest rates again soon in order to protect the UK economy from slowing.
These concerns were amplified by the release of the minutes of the last meeting of the Bank’s Monetary Policy Committee, which showed that […]

Bank moves affect currencies markets on week

Story link: Bank moves affect currencies markets on week

The New Zealand dollar was lifted by interest rates and carry trades activity this week despite rumored attempts by the Reserve Bank of New Zealand to intervene early in the week to slow its ascent. The kiwi added 1.6 percent to $0.7680 versus the US dollar, while it gained 2.1 percent versus the […]

Sterling stronger after MPC minutes

Story link: Sterling stronger after MPC minutes

Sterling strengthened on Wednesday after the Bank of England released the minutes from this month’s Monetary Policy Committee meeting. The minutes showed that the decision on interest rates was a close one, with 5 committee members voting to hold rates steady and four members, including the Bank’s governor, voting to raise rates. Analysts […]

Sterling gains on Bank of England governor’s remarks

Story link: Sterling gains on Bank of England governor’s remarks

Sterling was stronger on Tuesday after the governor of the Bank of England said that inflation remains a risk to the UK economy and that interest rates will need to be raised again unless growth in earnings and credit subsides and constraints to capacity are overcome. His comments had more sway with investors than […]

Fitch downgrades Icelandic krona

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The Japanese yen was weaker on Thursday as equities markets gained ground. The yen has risen with the faltering fortunes of equities markets recently as investors rush to decrease their exposure to risky investments. The yen dropped 0.3 percent against both the US dollar and sterling, to Â¥117.40 and Â¥227.10 respectively, while it […]

US dollar weakens as yen strengthens

Story link: US dollar weakens as yen strengthens

The US dollar weakened on Monday, dropping in relation to the euro and the yen. Analysts were divided on the reason for the decline. Some attributed it to continued worries over the standoff between Iran and the West over the Middle Eastern nation�s insistence on carrying on with its uranium enrichment program. […]

Swiss franc declines on rate hike

Story link: Swiss franc declines on rate hike

The US dollar strengthened somewhat on Friday after new consumer price inflation data showed that consumer inflation was up 0.2 percent month-on-month, putting the annual core inflation rate at 2.8 percent, about what had been expected. Meanwhile a consumer sentiment survey by the University of Michigan showed that the mood of US consumers was […]

Yen strengthens in advance of G7 meeting

Story link: Yen strengthens in advance of G7 meeting

The Japanese yen strengthened on Thursday ahead of a meeting of the G7 scheduled for late next week in Singapore, where the International Monetary Fund will also hold a meeting next week. Germany’s deputy finance minister was quoted as saying that the yen will be discussed at both meetings. It had been expected […]

Sterling up on unexpected rate hike

Story link: Sterling up on unexpected rate hike

The Bank of England’s decision to raise interest rates in the UK strengthened sterling on Thursday. The surprising nature of the hike - most analysts did not expect the Monetary Policy Committee to raise rates this month - meant an extra boost for the UK currency.
Sterling added 0.5 percent in relation to both the […]

US dollar mixed on interest rate uncertainty

Story link: US dollar mixed on interest rate uncertainty

Sterling was stronger as analysts began to be more and more convinced that UK interest rates will be higher by the end of the year as several measures of economic health seem to be showing the UK economy to be in good shape. Figures from the housing markets, retail sales, the money supply, consumer […]

Sterling strengthens on Bank of England meeting notes

Story link: Sterling strengthens on Bank of England meeting notes

The US dollar weakened on Wednesday after Federal Reserve Chairman Ben Bernanke told a Congressional committee that both economic growth and the growth of inflation could be slowing down soon. While far from predicting an economic crash, the comments led most analysts to cut the chance that the Fed will raise interest rates in […]

Euro weaker as Eurzone inflation repeats May level in June

Story link: Euro weaker as Eurzone inflation repeats May level in June

The dollar strengthened on Monday as investors looked for safe places to put their money as conflict in the Middle East seemed to be getting worse by the day. In addition, new data showed that US industrial output was up in June, and US Federal Reserve chairman Ben Bernanke is expected to leave […]

Syria announces abandonment of peg to US dollar

Story link: Syria announces abandonment of peg to US dollar

The Canadian dollar saw declines on Tuesday as the Bank of Canada not only elected to keep interest rates at their current level, but issued comments leading most analysts to the conclusion that no new rate hikes will be coming anytime soon and that the loonie will not strengthen significantly for some time.
The Canadian currency […]

Yen strengthens ahead of Bank of Japan meeting

Story link: Yen strengthens ahead of Bank of Japan meeting

The euro grew stronger on Thursday on new signals from the European Central Bank that interest rates will be rising again. While the ECB kept interest rates at 2.75 percent for the present, remarks from the Bank’s governor were widely read as meaning that there will be a 25-basis point hike in rates at […]

Swiss franc weakens

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With currency trade light on Tuesday as the United States took the day off for the Independence Day holiday, several Asian currencies took the opportunity to make gains against the greenback. The South Korean won added 0.2 percent versus the dollar to Won 943, while the Thai baht gained 0.4 percent to Bt37.855 and […]

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Some emerging currencies, which have been struggling recently, saw gains on Wednesday, while others continued to decline. Meanwhile, major currencies moved little in relation to one another as traders waited to see what the US Federal Reserve would do about interest rates later in the week.
The US dollar strengthened some as analysts expected the […]

US dollar stronger versus most currencies

Story link: US dollar stronger versus most currencies

The US dollar strengthened against some currencies over the week, helped by interest rate differentials, the perception of Treasury bonds as a safe place for investors to put their money, and a US trade deficit that didn’t widen as much as analysts had feared it would.
The greenback was up 2.2 percent to $1.2636 during the […]