The U.S. Dollar came under pressure again as Ben Bernanke, the head of the U.S. Federal Reserve Bank, signaled that monetary policy would continue to remain accommodative, giving rise to renewed hopes of more easing.
During the early Asian trading session, the U.S. Dollar recovered from a 10-day trough versus the Japanese Yen as Japanese importers used the pair’s dip to buy into the greenback.
As Tokyo-based importers took advantage of the earlier rally, the Japanese Yen saw some slight weakening during the Asian trading session but the newly raised concerns over global growth are likely to send investors back to safe haven currencies.
China’s Flash PMI data for February showed a surprising contraction, an event which pushed the Australian Dollar lower against the U.S. Dollar. Get today's news here!
Earlier in the Asian session, the Euro struck a 2-week peak against the U.S. Dollar as recent clearer signs of stabilization in the Eurozone helped to support the common currency.
The EUR/USD pair steadied at $1.3235, just off a 1-week high of $1.3266 struck yesterday, helped there by short selling of the U.S. Dollar following news that the ECB bought no sovereign debt last week.
The Japanese Yen was on the defensive during the Asian trading session as the common currency Euro reached a 5-month peak against it; as reported at 1:08 p.m. Get today's news here.
The U.S. Dollar slipped finally as profit taking slowed the recent rally, however analysts concur that the uptrend remains intact as the latest positive economic data more than supports the outlook.
The U.S. Dollar continues to strengthen broadly, this time touching on a 1-month peak versus the Euro and an 11-month peak versus the Japanese Yen.
The U.S. Dollar appreciated broadly in Asian trading today, with the greenback striking a multi-month peak against the Japanese Yen. Get the full news article here.
In today's news, after a two day Bank of Japan meeting, the US dollar hit an 11 month high against the Yen, with the Dollar Index hitting 79.981, which is also a 7 week high for the currency pair.
The U.S. Dollar touched on a 3-week high against the common currency during the Asian trading session, following Friday’s U.S. jobs report which was not only better than expected but revised upward the two previous months data.
The Euro and other commodity-linked currencies earlier overnight gains as the Greek government edged further from a messy default. Earlier in the session, the Euro was trading against the U.S. Dollar at $1.3274, a gain of 1% which came on the back of news that Greece was close to securing its debt swap deal.
The Japanese Yen fell against the U.S. Dollar in Asian trading today following a report that showed that the Japanese current account posted a record deficit in January, the first time in three years.
Greek worries return to the fore as investors assess whether or not the debt-saddled country can satisfactorily pull together a deal to swap out maturing debt with new issuances.