Japanese Yen Slips in Asia, but Retains Earlier Gains
Friday, February 26, 2010 GMT
Despite a decline during the Asian trading session, the Japanese Yen managed to hold on to gains made on Thursday; the safe haven currency was bolstered by continuing investor concerns over mounting fiscal problems in Euro-zone countries and doubts over the pace of the worldwide economic recovery. Also helping the Japanese Yen was repatriation of the currency by Japanese importers in advance of the month’s end.
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Euro Strikes 1-year Low on Yen, Which Makes Broad Gains
Thursday, February 25, 2010 GMT
The single currency Euro fell to a new 1-year trough in Asian trading today, attributed largely to continuing investor concerns over the Euro-zone’s fiscal problems, and a round of selling by Japanese exporters, which triggered the fall.
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U.S. Dollar Trading Narrowly in Asia as Investors Await Bernanke Testimony
Tuesday, February 23, 2010 GMT
The U.S. Dollar traded within narrow ranges in Asian trading today, as traders await the Federal Reserve’s report to the U.S. Congress tomorrow. Some investors are speculating that Ben Bernanke, the Federal Reserve Bank Chairman, would quash rumors of possible monetary tightening, and have avoided the U.S. currency as a result.
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U.S. Dollar Slips ahead of Bernanke Testimony
Monday, February 22, 2010 GMT
In Asian trading today, the U.S. Dollar Index fell as investors continue to debate the U.S. Federal Reserve’s fiscal strategy, especially as regards the possibility that a key interest rate hike may occur sooner than expected.
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U.S. Dollar Index Rises to 8-month Peak on Fed Announcement
Friday, February 19, 2010 GMT
In an oddly timed move, the U.S. Federal Reserve Bank directed that the U.S. discount rate, which is the rate at which the Federal Reserve lends to privately held U.S. banks, be raised to .75%, an increase of .25% effective Friday, the 19th of February.
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European stocks set to open lower
Friday, February 19, 2010 GMT
The Fed raising its discount rate by 25 basis points to .75% shocked the markets earlier today. The US dollar after weakening during early US trade, promptly rallied at the news. The Fed appears to be making good on its word about starting to remove the excess stimulus measures from the economy. The prospect of the US hiking rates before the EU and other major developed countries has made investors dollar bullish. This change in sentiment can be seen in the USD/JPY as the pair reached a new high of 92.10 upon the news.
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WSJ News Report exacerbates Euro-Zone Worries
Thursday, February 18, 2010 GMT
A recent report from The Wall Street Journal newspaper which suggested that the fiscal worries in Greece could spill over to other areas within the Euro-zone, precipitated the Euro’s fall in Asia today. Late last night, it was reported that some Italian municipalities took out derivative contracts, which if substantiated, could threaten public finances.
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Euro rebounds on Dollar/Yen despite Greek Fiscal Problems
Wednesday, February 17, 2010 GMT
The single currency Euro rebounded in Asian trading today, despite continuing investor concerns over the Greek debt crisis. Some market players appear inclined to believe that the Euro’s broad decline has reached a turning point, and combined with the U.S. Dollar’s retreat, and whetted risk appetite, helped prop up the Euro against safe-haven currencies.
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Euro Beleaguered as Greek Debt Worries Persist
Tuesday, February 16, 2010 GMT
Despite continuing investor concerns over the heavily debt burdened nation of Greece, the single currency Euro inched up in Asian trading today, hovering close to a 9-month trough versus the U.S. Dollar. Once again, a meeting of finance ministers from the Euro-zone failed to produce a definitive plan to help those countries within the Zone which are fiscally troubled, including not only Greece, but Spain and Portugal.
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