Market News

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.

The U.S. Dollar Index slid to a 1-week low in Asian trading today as investor concerns over escalating Middle East tensions, as well as lackluster economic data from the U.S., held back the recent rise in U.S. Treasury bond yields.

Yesterday’s report that U.K. inflation continues to exceed the Bank of England’s 2% target rate gave some credence to investor speculation that a rate hike might soon be forthcoming.

In spite of recently recouping some earlier losses, the common currency Euro is expected to continue to be put under pressure; investors believe it is likely to remain within striking distance of the 3-week low struck yesterday.

In Asian trading today, the U.S. Dollar slipped versus the Japanese Yen as exporters from Japan sold off their holdings and reaped the profits from the 83.50 Yen price.

The U.S. Dollar rose to a 1-month peak versus the Japanese Yen in Asian trading following the release of encouraging labor data from the U.S. yesterday suggesting that the all important labor market there is finally recovering.

As market players finally acknowledge that the ECB, in all probability, will not be considering an interest rate increase anytime in the near future, the common currency Euro has fallen against the U.S. Dollar in Asian trading.

The safe haven Swiss Franc remains under pressure in Asian trading today, even as market players took yesterday's benchmark interest rate hike from China in stride.

Investor hopes were all but dashed for a rate hike from the ECB later this week following the release of lackluster data from the German industrial sector.

In Asian trading today, the common currency Euro recouped earlier losses against the U.S. Dollar, yet investors remain jittery following a rise in the yields on U.S. Treasury instruments.

The common currency Euro is under pressure in Asia today following yesterday’s ECB policy meeting.

As violence erupts on the streets of Cairo, the Euro is falling against the perceived safety of the U.S. Dollar and Japanese Yen as investors beat a hasty retreat from higher risk, commodity-based currencies.

In Asian trading today, the common currency Euro rose to its highest price in almost three months against the safe haven U.S. Dollar on renewed investor risk appetite.