The following Forex news reports are the latest developments of the Forex market. The news reports are updated frequently and include all the events that affect the foreign exchange trading industry.
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The U.S. Dollar surged to a 5-year peak versus the safe haven Japanese Yen following the surprise news from the Federal Reserve that it would begin to scale back its quantitative easing scheme by cutting the monthly bond purchase by $10 billion, split equally between Treasuries and mortgage-back securities.
The greenback was clearly on the defensive during the Asian trading session as market players await a Fed decision which could impact the dollar’s direction.
The Euro continued to edge broadly higher on Tuesday following the release yesterday of unexpectedly upbeat manufacturing data from the Eurozone.
The U.S. Dollar experienced light trading and little movement during Monday’s trading session in Asia, with investors making the decision to take a wait and see stance to determine what, if anything, the Federal Reserve might do when its policy team meets later this week.
The U.S. Dollar edged broadly higher during Friday’s Asian trade, boosted there from unexpectedly strong retail sales data from the U.S., which helped the U.S. Dollar Index move away from Wednesday’s 6-week trough.
The Japanese Yen edged lower and then firmed during the Asian trading session, following a broad rise triggered by a Wall Street slump on growing expectations that the U.S. central bank might begin scaling back quantitative easing measures even as soon as this year.
The Euro struck a fresh 6-week high versus the U.S. Dollar during Wednesday’s Asian trading session on expectations that a Eurozone banking deal is in the works aimed at eliminating those which are in danger of collapse and shoring up those still deemed viable.
The Euro enjoyed fresh highs against both the U.S. Dollar and the Japanese Yen, getting a boost from comparatively favorable monetary policy from the European Central Bank as well as unexpectedly improved trade data from China which gave a boost to risk-related currencies.
In spite of Friday’s release of better than expected labor data from the U.S. the greenback’s rally was short-lived, and as a result, the common currency Euro surged to a near 6-week peak.
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The Euro was broadly higher against its major peers during Friday’s Asian trading session, getting a solid boost after the European Central Bank’s monetary policy decision left investors secure in the knowledge that there wouldn’t be any further stimulus measures in the near term.
The Japanese yen edged off its 5-year low versus the common currency Euro as well as a 6-month trough against the greenback though analysts say that the investors are still wary ahead of a week filled with market moving events.
The Japanese Yen was pushed broadly higher during Asian trading as investors book profits ahead of several major events which are scheduled to occur during the week.
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Sign up to get the latest market updates and free signals directly to your inbox.European stock markets moved lower on Tuesday for the third straight day, as investors remained cautious before the closely watched U.S. nonfarm-payrolls report at the end of the week, which could affect the decision by the Federal Reserve whether or not to reduce its stimulus.
As the last month of the trading year began, an unexpected but welcome reading of China’s PMI data has helped to give commodity linked currencies a significant boost during the Asian trading session.
The Japanese Yen remained close to a 6-month trough against the greenback and a 4-year low versus the common currency Euro as investors favored the low yielding albeit safe haven currency as the carry trade for higher risk asset purchases.