Market News

The Euro, which initially headed lower for a sixth straight day, bounced back from a near one-month low against the dollar, aided by a bounce in equity markets.

A report stating that the Japanese prime minister and the head of the central bank are going to meeting to discuss ways to better cope with the JPY’s export sapping strength lead to a serious increase of the US Dollar vs the JPY on Friday.

A wave of short Dollar positions triggered by concerns over the US and global economies on Wednesday led to the USD’s biggest daily gain in nearly two years. That gain reversed itself on Thursday with the greenback declining.

The USD hovered within clear sight of a a decade and a half low against the Japanese currency on Wednesday after the Federal Reserve announced their intentions to boost a flagging economy by reinvesting money from maturing mortgage bonds into government debt.

The uncertainty over the future federal reserve decision that many are speculating will lead to further quantitative easing as a result of a slowing economy, has led to a serious USD rebound.

The USD nosedived VS the JPY on Monday, approaching a 15-year low, after a pessimistic U.S. July payrolls report generated rumors that the Federal Reserve might consider a further easing monetary policy as early as this week.

The USD was on the defensive close to a a 3-½ month low versus a variety of currencies after poor U.S. jobless claims figures raised worries that Friday's payroll data could paint a sad picture of the U.S. economic recovery.

The Canadian Dollar struck a new 13-week peak versus the U.S. Dollar in early New York trading in advance of critical North American jobs reports to be released tomorrow by the U.S. and Canadian Labor Departments.

The USD steadied on Thursday after it enjoyed a rare rally the previous day when U.S. data exceeded expectations and sparked a bout of short-covering, although the overall mood remains bearish ahead of a key payrolls report.

The USD hit an 8 month low VS the JPY and hovered near a three-month trough against the EUR on Wednesday.

The U.S. Dollar slipped in early morning trading in New York, striking new multi-month lows versus the Japanese Yen, Pound Sterling and the common currency Euro on growing concerns that the pace of the economic recovery in the United States is slowing. As reported at 9:21 a.m.

The USD hovered close to a three-month low versus a variety of currencies on Tuesday as a result of the perception that the U.S. growth outlook is declining, forcing the Federal Reserve to keep interest rates at a minimal level.

With the release of new economic data showing that the American economy’s pace of recovery is slowing, the U.S. Dollar yesterday slipped to its lowest level this year against the Japanese yen.

The common currency Euro rose versus the U.S. Dollar in early morning trading in New York, striking the highest level in more than 2 months.

The USD rallied vs the EUR but declined against the JPY on Wednesday as U.S. durable goods orders were weaker than was expected and added to fears about financial recovery in the world's greatest economy.