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.
The relief rally which followed the news that the U.S. government managed to avert a debt default was short-lived as investors now consider the economic tally of the damages sustained with the 2-week long shut down of the federal government.
The U.S. Dollar was steadily lifted against its major peers during the Asian trading session, supported by the Wednesday announcement by the U.S. Senate that the standoff between the political parties could be coming to an end as a deal had been reached between them.
Optimism that a deal which can avert the U.S. defaulting on its debt continues to grow even as the deadline edges closer.
The U.S. Dollar firmed during the Tuesday session in Asian, touching on a 2-week peak versus the safe haven Japanese Yen after indications of an impending deal between the two main political parties in the U.S. hinted that the stalemate would soon be drawing to a close.
With another weekend now concluded and still no compromise between the U.S. Democrats and Republicans towards the end of the political stalemate, the U.S. Dollar slipped again in Asian trading while the safe haven Japanese Yen gained.
Investors are hopeful that, as the deadline for a U.S. debt default draws nearer, the two political forces will have been able to work together and cobble together some deal which will avert the crisis.
The U.S. Dollar steadily gained momentum and moved higher during the Asian trading session as signs that Washington’s political stalemate could be on the verge of breaking apart is giving investors some much needed hope that the impending debt default could be averted.
The dollar came close to an 8-month low on Wednesday as the government shutdown continued, bringing the United States government closer to the mid-October deadline that may see a historic debt default. The panic spread beyond US borders into both Europe and Asia, where shares continued to plummet.
With the U.S. government’s stalemate now entering week number two, the U.S. Dollar tumbled close to a recently struck 8-month trough as investors ponder lawmakers’ failure to reach any consensus and the affect that might have on the looming debt default date.
During Monday’s Asian trading session the U.S. Dollar once again failed to gain any traction against its safe haven rivals, the Swiss Franc and the Japanese Yen, while the U.S. Dollar Index remained near to an 8-month trough as the U.S. government’s stalemate enters another week.
The common currency Euro is poised to strike its 2013 peak at any time, driven higher by unexpectedly encouraging economic data from the Eurozone and the closure of the U.S. government as a result of an impasse between the two major political parties.
The Euro got a boost from comments made by the European Central Bank as well as positive political news from Italy.
As investors and analysts expected, the U.S. Dollar has become one of the first victims of the U.S. Federal government’s shutdown. The U.S. Dollar Index slipped hard against its major peers, touching on a fresh 8-month low, while safe haven currencies got a boost from investors’ uncertainty.
The U.S. Dollar Index edged higher against a weighted basket of its peer though investors remain wary ahead of a looming deadline in Washington, D.C., which could mean the closure of the federal government.
A new political crisis in Italy has resulted in a steep fall of the common currency Euro as Silvio Berlusconi comes back into the picture like a whirlwind, pulling his party ministers out of government over the weekend and calling for fresh elections.
