Unexpectedly dismal trade data from China has sent the Euro lower against the U.S. Dollar, and market players expect that the common currency will continue to sink throughout the day.
The U.S. Dollar was higher versus the Japanese Yen in Tokyo trading today following yesterday's small rise in 3-year Treasury yields.
In early Asian trading, the Euro edged up against the U.S. Dollar, but investors, who have increased their long-term holdings in the common currency, appear to believe that a decline in the short-term will prevent it from breaching the November peak.
The Euro’s rally against the US dollar is being questioned as EU leaders continue to battle the region’s sovereign debt crisis and optimism about the U.S. economy increases.
In Asian trading today, the common currency Euro remained steady, holding onto yesterday’s gains following the hawkish comments issued by European Central Bank president, Jean-Claude Trichet.
The common currency steadied close to a 4-month peak versus the U.S. Dollar in Asian trading on growing speculation that the ECB is moving closer to an interest rate hike.
In Asian trading today, the U.S. Dollar is seeing slight gains against the common currency Euro, which could not breach a key resistance level.
Ahead of Ben Bernanke’s testimony later today in the U.S. Congress, the U.S. Dollar is under heavy pressure in Asian trading.
In mid-afternoon trading in Asia, the Euro briefly fell to a 3-week low versus the Japanese Yen, which was precipitated by a decline in regional stock prices.
For the second consecutive day, the Swiss Franc struck a new record high against the U.S. Dollar as investors flock to the safe haven currency in the face of escalating violence in Libya.
The U.S. Dollar struck a record low against the safe haven Swiss Franc and investors expect that the greenback will remain under heavy pressure as the violence in the Middle East and Northern Africa escalates.
In mid-afternoon trading in Asia, the common currency Euro rose against the U.S. Dollar as two ECB officials confirmed that the central bank stands at the ready to increase interest rates if inflationary pressures warrant.
The US Dollar saw broad gains in Asian trading today as geopolitical tensions in the Middle East ratcheted up a notch, and investors shun high risk currencies in favor of the safe haven greenback.
In what is expected to be a lackluster trading day across the forex markets, the common currency Euro held steady, close to a 10-day hike, on renewed speculation of an ECB rate hike.
As geopolitical tensions rise in the Middle East and now Northern Africa, in Asian trading the safe haven Swiss Franc is holding steady against the U.S. Dollar near to a 2-week peak.