Swiss franc weakens

Story link: Swiss franc weakens

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 […]

Story link:

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 […]

Employment data weakens US dollar

Story link: Employment data weakens US dollar

Substantially lower than expected employment data in the United States on Friday resulted in a weakened dollar as it became less likely that the Federal Reserve will raise interest rates again in June. While unemployment declined to 4.6 percent in May, only 75,000 jobs were created during the month.
The greenback dropped 0.8 percent to […]

US dollar stronger versus euro

Story link: US dollar stronger versus euro

The US dollar was stronger in relation to other currencies on Wednesday on new data showing that the US trade deficit had gotten smaller. After consideration of the new figures, however, investors sent the greenback slightly lower again for a mixed day overall.
The trade deficit shrunk by $2.9 billion in February to $65.7 billion, […]

Euro strengthens, yen weaker

Story link: Euro strengthens, yen weaker

The euro was stronger in relation to the US dollar and sterling on Tuesday, but it fell from a four-day high against the greenback after the ZEW survey of investor sentiment in German showed an unexpected drop from 63.4 in March to 62.7 in April. It was the third decline in a row, most […]

Euro strengthens on week

Story link: Euro strengthens on week

The euro gained strength over the week as what little new data there was seemed to be euro-positive. The European Commission’s economic sentiment reading was at a five-year peak in March. The Ifo German business sentiment survey was at a 15-year high. Money supply growth was at 8 percent for the year […]

Euro strengthens on week

Story link: Euro strengthens on week

The euro gained strength over the week as what little new data there was seemed to be euro-positive. The European Commission’s economic sentiment reading was at a five-year peak in March. The Ifo German business sentiment survey was at a 15-year high. Money supply growth was at 8 percent for the year […]

Euro stronger as US dollar weakens

Story link: Euro stronger as US dollar weakens

The euro was stronger on Thursday, while the US dollar weakened in relation to several currencies. Analysts could not agree on reasons why the dollar had declined, especially with the Gross Domestic Product deflator, which the US Federal Reserve looks to as its favorite way to measure inflation, newly revised up for the fourth […]

Yen higher; dollar steady

Story link: Yen higher; dollar steady

Most major currencies were very nearly unchanged on the day Wednesday, leaving the Japanese yen as the only major currency to make substantial moves on the day. The yen advanced despite comments from the governor of the Bank of Japan which indicated that interest rates will not go up in the foreseeable future.
The yen […]

Dollar, sterling strengthen

Story link: Dollar, sterling strengthen

The US dollar strengthened on Tuesday after comments Monday night by US Federal Reserve Chairman Ben Bernanke which were interpreted as positive and therefore indicative that the Fed will issue another interest rate hike when it meets later in the month. Among other things, he said that low long-term yields on Treasury bonds are […]

Monetary policy decision unsettles yen

Story link: Monetary policy decision unsettles yen

After a rise directly after an announcement from the Bank of Japan that it was tightening its monetary policy, the Japanese yen was flat to weaker on the day as analysts arrived at an interpretation of the Bank’s move that expects policy to remain accommodative for some time to come.
The yen’s first response to the […]

Yen up, US dollar down

Story link: Yen up, US dollar down

The Japanese yen was up in morning trade in Europe on Thursday as the governor of the Bank of Japan made comments to a committee of parliament that seemed to imply that the Bank’s loose monetary policy is about to end. This move, when it is made, is expected to allow interest rates in […]

Emerging currencies decline

Story link: Emerging currencies decline

The decline of the Icelandic krona by 4.6 percent in relation to the US dollar on Tuesday sent a number of emerging and high-yield currencies down on Wednesday morning as investors reacted to the krona’s decline. Tuesday’s drop in the krona led Fitch to lower Iceland’s country rating to “negative” from “stable” due to […]

Sterling falls on lower retail data

Story link: Sterling falls on lower retail data

Sterling was down on Thursday on data that showed retail sales down by 1.3 percent in January, the largest monthly decline since December of 2004. The decline in sales came despite a drop of 1.2 percent in retail prices on the year ending in January. As a result of the slower retail sales, […]

US dollar stronger despite near-record trade deficit; euro weaker on day

Story link: US dollar stronger despite near-record trade deficit; euro weaker on day

The US dollar was stronger on Thursday despite the report of a near-record trade deficit of $59 billion in August, the key being that as high as the figure was, it was lower than had been expected by analysts. The trade deficit was helped higher by high prices for oil imports. Bond yields […]

Euro down in relation to US dollar, European currencies

Story link: Euro down in relation to US dollar, European currencies

The euro was weaker on Tuesday amid concerns that the new coalition government in Germany will not go forward with reforms in the tax system and labor market there.
The US dollar gained 0.5 percent to $1.2007 in relation to the euro while traders awaited the release of the minutes of the September 20 meeting of […]

Foreign exchanges remain relative unchanged by economic cheer

Story link: Foreign exchanges remain relative unchanged by economic cheer

The US dollar remained unchanged against the euro on Wednesday, at $1.1907, while it rose 0.4 percent to ¥112.15, a thirteen-month high against the yen, which remains weak due to rising oil prices.
Better-than-expected non-manufacturing data in the US didn’t have much influence on the value of the dollar in relation to other currencies. […]

Swedish cuts unbalance weak euro

Story link: Swedish cuts unbalance weak euro

The Swedish krona lost 0.1 percent against the Norwegian krone on Tuesday to SKr1.1756 in reaction to a cut in Sweden’s interest rates to 1.5 percent by Riksbank, as well as due to the bank’s reduction of its economic growth forecast for Sweden for 2005.
An earlier forecast called for growth of 3.2 percent […]