With the global markets awaiting a surfeit of economic data out of the United States, the U.S. Dollar Index closed in on the lowest point of the year versus a basket of six major currencies in Asian trading today.
Yesterday, Su Ning, the Vice Governor of China’s central bank commented that they had no intention of tightening the country’s money supply and would be using market tools rather than quota styled controls as they are continue to work toward repairing China’s economy.
As reported at 2:42 p.m. (JST) in Tokyo, the U.S. Dollar steadied against major currencies, very near to the lowest trade of this year.
Good economic news out of the United States drove investors back into higher risk, higher yielding assets giving the Euro a push to an 8-week high against the U.S. Dollar in Tokyo trading today.
The U.S. Dollar and Japanese Yen, as well as other major currencies, managed to hold steady in Asian trading today as the markets await the release of figures on the U.S. GDP, a measure of how well the economic health of the world’s largest economy is faring.
Much improved housing market data from the U.S. and mixed corporate earnings reports helped to push the Japanese Yen up broadly in Friday’s trading in Asia. U.S. housing data indicated that existing home sales continued to climb for the third straight month and housing prices are at their highest levels in more than 9 months.
Following a second day of Congressional testimony by Ben Bernanke, the Federal Reserve Chairman, as well as the release of mixed U.S. corporate earnings results, the U.S. Dollar fell broadly in Asian trading, nearing a 7-week low versus the single currency Euro and slipping against a basket of six major currencies.
As I am sure you know, the NFA recently announced the new FIFO (First In First Out) ruling that is to come into effect on August 2nd.
Ben Bernanke, the Chairman of the United States Federal Reserve Bank, in testimony to the U.S.
As the market’s wait to hear Congressional testimony from Ben Bernanke, the Chairman of the U.S. Federal Reserve Bank, the U.S. Dollar struggled off of a weeks-long low in Tokyo trading.
As reported at 9:31 a.m. in London, the U.S. Dollar slipped against major currencies, touching on a 6-week low versus the single currency Euro as investors move back into higher risk, higher yielding currencies.
As reported at 2:55 p.m. (JST) in Tokyo, the Japanese Yen saw broad gains in Asian trading this morning, following the news of two hotel bomb blasts in Jakarta
The Japanese Yen saw gains across the board in Tokyo trading today on investor profit-taking of perceived higher-risk currencies.
In early morning trading in London, the U.S. Dollar Index fell versus a group of six major currencies, touching on its lowest price in almost two weeks,
Investor optimism over the Goldman Sachs earnings report which is expected to be released later this week has precipitated the fall of the Yen versus the U.S. Dollar and the single currency Euro in trading in Asia today.