May 2013 UK Forex and Foreign Exchange News Archive
Archived Daily Wealth Management News...
Dollar strengthens on positive economic data
29 May at 9 AM
News Item Link: Dollar strengthens on positive economic data
Investors are being drawn to the US dollar after strong economic data coming out of the States raised expectations that the Federal Reserve will begin to rein in its easy money programme. The yen has also been given a boost by falling Japanese stocks.
The yen is up 0.3 per cent against the greenback to 102.14. On Tuesday the yen dropped...
Dollar hit buy support for QE
22 May at 9 AM
News Item Link: Dollar hit buy support for QE
Chairman of the Federal Reserve, Ben Bernanke, is due to give a clearer indication on whether the central bank will be bringing an end to its monetary easing policy any time soon. Speculation that the Fed will be wrapping up quantitative easing has seen the dollar gain around 5 per cent since the beginning of the year. However, the dollar...
Dollar remains strong against yen
15 May at 9 AM
News Item Link: Dollar remains strong against yen
Signs that the US economy is improving have helped to keep the dollar close to its highest level against the yen in more than four years. On Tuesday the US currency was buying 102.42 yen, but has since lost 0.1 per cent to end at 102.24 yen. Positive Treasury yields have also helped to buoy the dollar above 102 yen.
Households in the US...
Euro spikes on German industrial data
8 May at 9 AM
News Item Link: Euro spikes on German industrial data
Better than expected economic data coming out of Germany has seen the euro rally, although gains are likely to remain limited as the European Central Bank moves to further ease monetary policy.
German industrial orders for March increased by 2.2 per cent on a month earlier and as a result the euro spiked as high as $1.3123. On Monday the...
Dollar drops on disappointing economic data
1 May at 9 AM
News Item Link: Dollar drops on disappointing economic data
Disappointing economic data coming out of the US has seen the dollar drop to a two-month low against a basket of other major currencies. Investors now doubt that the Federal Reserve will pull back on its policy of monetary easing in the near future. Figures for April show that in some parts of the US business activity is shrinking. Economic...
Yen reaches multi month highs against dollar and euro
31 May at 4 PM
News Item Link: Yen reaches multi month highs against dollar and euro
The yen hit new multi-month highs versus the dollar and the euro in Asian trade on Thursday as cautious traders snapped up the safe haven currency amid concerns over the faltering bank sector in Spain.
The euro was at 97.47 yen in Tokyo, falling from 97.76 in New York trading on Wednesday and the lowest it has been since 16 January, when...
Euro boosted by EU comments
30 May at 3 PM
News Item Link: Euro boosted by EU comments
The euro rebounded from close to tow-year lows versus the dollar today, after the European Commission announced reforms to improve investor confidence, although gains were expected to be fleeting due to mounting fears over banks in Spain.
The European Commission said that the eurozone should introduce a banking union and think about...
USD/CHF falls as Greek exit fears calm
29 May at 9 AM
News Item Link: USD/CHF falls as Greek exit fears calm
The US dollar lost ground on the Swiss franc yesterday, as concerns over Greece departing the eurozone calmed after an opinion poll from the Mediterranean country showed the pro-bailout party had more support ahead of June’s elections.
USD/CHF dropped to 0.9529 during morning trade in Europe, the lowest the pair has been since 23 May;...
USD/CAD lower during US bank holiday
28 May at 6 PM
News Item Link: USD/CAD lower during US bank holiday
The US dollar lost ground on its Canadian counterpart today, and looked set to stay within a narrow range as US markets were closed for the country’s Memorial Day holiday.
USD/CAD reached 1.0224 during European trading this afternoon, the lowest the pair has been since 23 May; however, they subsequently consolidated at 1.0253, losing...
China banks report net monthly forex selling in April
25 May at 11 AM
News Item Link: China banks report net monthly forex selling in April
Chinese banks delivered a strong performance in April by selling more foreign currency than they purchased for clients, resulting in a net sale in foreign exchange of $3.7bn, revealed the State Administration of Foreign Exchange’s figures.
It was the first time this year that the banks have delivered net selling, although they did...
EUR/USD climbs above 1.2600
24 May at 6 PM
News Item Link: EUR/USD climbs above 1.2600
After spiralling its lowest point since July 2010, the EUR/USD has been recovering with the pair moving forward to trade at above 1.2600 resistance and hit an intra-day high of 1.2620. The pair is currently trading at 1.2595 and managing to keep levels above 1.2600.
Discussions about coordinated action by new Central Banks on liquidity...
Canadian dollar gains on most peers before EU summit
23 May at 2 PM
News Item Link: Canadian dollar gains on most peers before EU summit
The Canadian dollar gained ground against most major currencies ahead of a European Union leaders meeting in Brussels to discuss the debt crisis in the region.
The currency climbed further against the euro while US stocks erasing gains meaning it lost ground on the greenback. Wolfgang Schaeuble, the German finance minister, said on Tuesday...
Euro rebounds against dollar ahead of meeting
22 May at 10 AM
News Item Link: Euro rebounds against dollar ahead of meeting
The euro crept higher versus the dollar yesterday as traders took some respite after seeing the single currency fall to a four-month low, while a much-anticipated meeting of eurozone leaders is due this week.
Traders said they had seen signs of exhaustion in selling the common currency. That, as well as extreme levels of the short...
Euro remains pressurised despite rebounding from four month low
21 May at 4 PM
News Item Link: Euro remains pressurised despite rebounding from four month low
The euro continued to climb from its four-month suffered last week, but investors remained wary over the financial crisis in Spain and Greece, drawing little comfort from G8’s vow to fight the debt crisis in the eurozone.
The single currency moved up after speculators placed a record number of bets against it, revealed data from a US...
Yen posts sharp gains
18 May at 3 PM
News Item Link: Yen posts sharp gains
The safe-haven Japanese yen gained ground on the dollar and the euro amid concerns about banks in Greece and Spain, contagion chances if Greece exits the euro and weak economic date from the US, reports Reuters.
The yen earlier climbed to a three-month high versus both the euro and the dollar as talk of a potential Spanish bank downgrades...
NZD/USD falls to a five month low
17 May at 9 AM
News Item Link: NZD/USD falls to a five month low
The New Zealand dollar has fallen to a five-month low versus the US dollar, as market sentiment remained pressurised after political leaders in Greece were unable to agree on the formation of a coalition government, putting the country’s access to international support at risk, reports Forexpros.
NZD/USD tumbled to 0.7648 during Asian...
Australian dollar hits 2012 low
16 May at 6 PM
News Item Link: Australian dollar hits 2012 low
The AUD/USD is currently trading at 0.9932, coming off a fresh session and a low for the year of 0.9916, marginally above Tuesday’s daily and New York lows, reports nasdaq.com.
ForexLive reported that corporate buyers have been seen at close to 0.9900 and at also at regular intervals to 0.9850. The pair has fallen from session highs of...
Euro drops to four month low
15 May at 6 PM
News Item Link: Euro drops to four month low
The euro fell to a new four-month low versus the dollar today after news from Greece confirming that the country will stage fresh elections after political leaders were unable to agree on forming a coalition government, reports Reuters.
In an indication of a rapid increase in risk aversion, government bonds from Germany shot up and 10-year...
Serbia forex reserves decline by 6.6%
14 May at 2 PM
News Item Link: Serbia forex reserves decline by 6.6%
Serbia’s foreign-currency reserves shrank by 6.6 per cent last month, falling for the fourth month in a row, largely due to capital outflows and a drop in the euro-selling activity at the central bank, which hindered the dinar, reports Bloomberg.
Foreign-exchange reserves dropped to 10.387bn euros ($13.365bn), from March’s figure of...
Euro steady close 3.5 month low
11 May at 9 AM
News Item Link: Euro steady close 3.5 month low
The euro held steady close to its recent three-and-a-half month low today, with the currency still viewed as vulnerable due to continuing political deadlock in Greece which has left investors worried about the possibility of the nation’s future in the eurozone, reports Reuters.
A fall in Spanish bond yields offered some support to the...
Pound Sterling rises after BoE refrains from further QE
10 May at 6 PM
News Item Link: Pound Sterling rises after BoE refrains from further QE
The sterling gained on most major counterparts, particularly the US dollar, the yen and the euro on the back of today’s policy statement by the Bank of England, reports Trading Point.
The central bank left interest rates unchanged at their long-term level of 0.5 per cent as anticipated, as well as keeping its asset purchase initiative on...
Greek political uncertainty weighs on euro
9 May at 11 AM
News Item Link: Greek political uncertainty weighs on euro
The euro dropped close to its recent three-month low today, due to concerns that Greece’s political uncertainty and France’s presidential change could undermine austerity plans crucial to tackling the debt crisis in the eurozone, reports Reuters.
The single currency remained pressurised after the Greek Left Coalition party’s leader...
Euro falls on dollar for seventh consecutive day
8 May at 6 PM
News Item Link: Euro falls on dollar for seventh consecutive day
The euro lost ground on the dollar for the seventh consecutive session on Tuesday on concerns that a change of president in France and political uncertainty in Greece could threaten austerity plans viewed as key to solving the debt crisis in the eurozone, reports Reuters.
The euro dropped below the psychological $1.30 level after the Greek...
Euro declines on Greek and French election results
7 May at 6 PM
News Item Link: Euro declines on Greek and French election results
The euro lost ground on the pound and the dollar on Monday after weekend election results that cast doubt on austerity plans across Europe, reports the BBC.
Francois Hollande, who won the French presidency, vowed to focus more on growth, while Greece’s pro-bailout parties performed poorly. The euro dropped as low as $1.295, the lowest it...
Pakistan forex reserves increase to $16.43bn
4 May at 9 AM
News Item Link: Pakistan forex reserves increase to $16.43bn
Pakistan’s foreign exchange reserves increased to $16.43bn during the week ending 27 April, from $16.42bn a week earlier, revealed the central bank on Thursday.
Reserves which the State Bank of Pakistan (SBP) holds rose from $11.92bn to $12.07bn, while those which commercial banks hold dropped from $4.50bn to $4.36bn, reports...
Euro falls on weak manufacturing data
3 May at 2 PM
News Item Link: Euro falls on weak manufacturing data
The euro lost ground on the US dollar on Wednesday as worse-than-expected manufacturing data heightened fears about the eurozone’s economy, reports Reuters.
Meanwhile, the yen bounced back from two-and-a-half month highs on the dollar following strong US data on Tuesday. Traders claimed the contrasts between the US and eurozone’s...
Australian dollar steady against US dollar
2 May at 4 PM
News Item Link: Australian dollar steady against US dollar
The Australian dollar remained steady against the US dollar today as concerns over how Spain’s financial crisis will be handled continued to impact market sentiment, while yesterday’s positive US manufacturing data helped the greenback, reports Forexpros.
AUD/USD reached a daily high of 1.0355 in the late Asian trade, with the pair...
Yen on the up as data lowers risk appetite
1 May at 6 PM
News Item Link: Yen on the up as data lowers risk appetite
The yen held tight at two-month highs versus the dollar today, having rallied overnight as investors purchased the safe-haven currency on the back of disappointing economic data from Canada and Spain, reports Reuters.
Data revealing that Spain had fallen back into recession, the unexpected contraction of Canada’s economy in February and...