July 2012 UK Forex and Foreign Exchange News Archive
Archived Daily Wealth Management News...
Dollar drops against the euro
31 Jul at 9 AM
News Item Link: Dollar drops against the euro
The US dollar has fallen against the euro ending close to a six-week low. Investors are expecting economic growth for the second quarter of the year to be soft.
If this is the case it is likely that the Federal Reserve will choose to keep interest rates low. Although the first quarter saw a GDP rise of 1.8 per cent, analysts are expecting...
Dollar extends its decline
24 Jul at 9 AM
News Item Link: Dollar extends its decline
The decline in the dollar continues as the greenback hits its lowest level in around a month. However, investors are now focused on economic data to be released by China later. Any signs that the world’s second-largest economy is slowing down could offer support to the dollar.
The dollar index fell 0.3 per cent on Tuesday and is...
Dollar softens against the yen
17 Jul at 9 AM
News Item Link: Dollar softens against the yen
A dovish approach by chairman of the US Federal Reserve, Ben Bernanke, has pushed the dollar lower. Overnight the greenback slid to its lowest level in nearly three weeks with the dollar index losing 0.6 per cent to hit 82.639. This saw some recovery in the euro, which ended at $1.3140.
Although the dollar is down on its high of 101.53...
Euro and pound hammered
10 Jul at 10 AM
News Item Link: Euro and pound hammered
Suggestions that the European Central Bank intends to keep interest rates low for the foreseeable future have driven the euro and the pound down. The single currency is currently trading at $1.2779, having earlier dipped as low as $1.2755. Joerg Asmussen, policy-maker at the ECB, said he expected interest rates to remain at a record low for...
Dollar strong against other currencies
3 Jul at 9 AM
News Item Link: Dollar strong against other currencies
The dollar is continuing to hold its own against other major currencies ahead of tomorrow’s holiday in the US and expectations that jobs data to be released on Friday will be positive. Economists are expecting 165,000 new jobs to have been created in June and the rate of unemployment to be 7.5 per cent.
The strong data will support...
Euro momentum fades; Aussie rises on stimulus hopes
31 Jul at 9 AM
News Item Link: Euro momentum fades; Aussie rises on stimulus hopes
The euro consolidated gains recorded recently on Tuesday on the back of a raft of negative economic data, while high hopes that key central banks were ready to add more stimulus kept risk currencies such as the Australian dollar at its recent highs.
The single currency was at $1.2260, having fallen back from a three-week high close to...
Euro falters but fall contained on ECB hopes
30 Jul at 4 PM
News Item Link: Euro falters but fall contained on ECB hopes
The euro dropped today as short-term technical charts reflected a bearish signal, but losses were restricted by hopes that the European Central Bank could soon begin fresh measures to tackle the debt crisis in the euro zone.
The common currency’s downside was forecast to be limited in the build up to Thursday’s ECB policy meeting, with...
Draghi says ECB effort will save the euro
27 Jul at 11 AM
News Item Link: Draghi says ECB effort will save the euro
Mario Draghi, president of the European Central Bank, has said that the ECB will launch fresh efforts to save the euro.
The comments from the content’s top banker came on Thursday at a conference London just before the start of the 2012 Olympic opening ceremony. Mr Draghi said that the bank would do “whatever it takes” to bring...
Aussie dollar up on RBA comments and Chinese data
26 Jul at 9 AM
News Item Link: Aussie dollar up on RBA comments and Chinese data
The Australian dollar remains lower but began to climb after positive comments by the governor of the central bank on the Australian economy and better than anticipated economic data from China.
At close of trading on Tuesday, the Aussie was trading at 102.89 USD, down from Monday’s figure of 103.12. On Tuesday as a whole, the currency...
Aussie dollar regains upside against major counterparts
25 Jul at 9 AM
News Item Link: Aussie dollar regains upside against major counterparts
After being pressurised at the beginning of Wednesday trading, the Australian dollar recovered to trade in positive territory versus its major counterparts.
The rebound came on the back of weak Australian CPI ratings, which pulled the AUD/JPY up from a four-week trough in the 79.50 region to session highs around 79.95, up by roughly 20...
Kiwi trading worsens
24 Jul at 9 AM
News Item Link: Kiwi trading worsens
After spending the majority of last week climbing higher, Monday saw the rally of the New Zealand dollar completely rebuffed.
The NZD/USD fell towards 0.7900 as markets were whipped into a frenzy by Spanish debt worries. Bank of New Zealand analysts said that as the European rot gradually spreads, markets are now starting to wonder whether...
Euro extends losses in early Asian trading
23 Jul at 6 PM
News Item Link: Euro extends losses in early Asian trading
The euro plummeted to close to a 12-year low on the yen and recorded record lows against the Australian dollar on Monday, starting the week pressurised on persistent concerns that Spain will have to eventually request a full sovereign bailout.
Market confidence was so low that Spanish bond yields climbed to their highest mark since the...
Euro exchange rate drops broadly as Spain troubles intensify
20 Jul at 2 PM
News Item Link: Euro exchange rate drops broadly as Spain troubles intensify
A struggling euro fell to a session low versus the US dollar and all-time lows against the Canadian and Australian dollars on Friday on the back of the Valencia region in Spain’s announcement that it would seek help from the central government in order to pay back its debts.
This news heightened concerns that Spain, the fourth largest...
Euro falls as Spanish bank woes continue
19 Jul at 6 PM
News Item Link: Euro falls as Spanish bank woes continue
The euro fell across the board today, hitting another record low versus the Australian dollar, with Germany warning that Spain’s financial woes are a long way from being over and that its government should ultimately be responsible for European help for its banks.
Prior to an aid for Spanish banks parliamentary vote in Germany, the...
Euro supported by US easing hopes
18 Jul at 9 AM
News Item Link: Euro supported by US easing hopes
The euro moved up versus the dollar on Wednesday following Federal Reserve Chairman Ben Bernanke’s announcement that the central bank is prepared to support the US economy, but gains remained limited as Bernanke gave little away about specific steps.
The Fed chief is scheduled to address the House Financial Services Committee on...
Dollar rebounds as Fed chairman vague on further easing
17 Jul at 6 PM
News Item Link: Dollar rebounds as Fed chairman vague on further easing
The dollar rebounded on Tuesday after Ben Bernanke, the Federal Reserve chairman, said that the central bank is ready to bolster a stumbling US economy but gave few details.
Invested had positioned themselves for Bernanke to offer more hints about additional monetary easing and when measures to boost the economy were not specified, they...
USD/JPY drops further in European trading
16 Jul at 6 PM
News Item Link: USD/JPY drops further in European trading
The USD/JPY has been declining for most of the day, and the European afternoon session was no different.
Risk aversion increased investor flight which has boosted the yen while, in the US, disappointing economic data has hit the pair’s strength even further. FX Instructor analyst Mark De La Paz said that the bearish engulfing in hourly...
Italy downgrade keeps euro near two-year lows
13 Jul at 2 PM
News Item Link: Italy downgrade keeps euro near two-year lows
The euro fell close to two-year lows today after Moody’s Italy downgrade added to a bearish stance on the common currency, while commodity currencies went up on growth data from China which met expectations.
The euro dropped to $1.2190, near its two-year low of $1.2166 hit on Thursday on the EBS trading platform and on course for its...
Dollar close to two-year high on major currencies
12 Jul at 9 AM
News Item Link: Dollar close to two-year high on major currencies
The dollar hovered near a two-year high versus a basket of currencies in early Asian trading on Thursday, having seen the euro slide to a two-year low, after Federal Reserve meeting minutes showed that further monetary easing was not going to happen at present.
The report showed that the world’s largest economy would have to deteriorate...
Euro hovers near two-year lows versus dollar
11 Jul at 4 PM
News Item Link: Euro hovers near two-year lows versus dollar
The euro hovered around two-year lows versus the dollar today as investors held on to see if a court in Germany would approve the eurozone using its bailout fund in order to contain the debt crisis in the region.
The single currency was trading at $1.2253, with the EBS two-year low on Monday of $1.2225 in sight, paving the way to test...
Euro hits five-year low against yen
10 Jul at 3 PM
News Item Link: Euro hits five-year low against yen
The euro was weak close to a two-year low versus the dollar and fell to a five-week trough against the yen today after a eurozone finance ministers meeting offered no positive solutions, with sentiment cautious as the focus turned towards a court hearing in Germany.
Eurozone ministers reached an agreement to give Spain an additional year,...
Yen trading lower after poor Japanese economic data
9 Jul at 6 PM
News Item Link: Yen trading lower after poor Japanese economic data
For the 24 hours prior to 23:00 GMT on Friday, the US dollar weakened 0.35 per cent versus the Japanese yen, closing at 79.63.
The leading index went up in Japan to a 95.9 reading in May, up from a revised 95.6 reading the previous month, while the coincident index fell marginally to 95.8 in May.
The Asian session saw the pair trading...
Indian rupee weakens against dollar
6 Jul at 9 AM
News Item Link: Indian rupee weakens against dollar
The Indian rupee has fallen for the second consecutive day against the dollar, losing 48 paise to finish the day at 54.97 on heightened demand for the greenback from importers despite strong fund flows into stocks.
Traders said the Indian currency was pressurised all through the session as the dollar gained ground on rivals on hopes that...
Euro on defensive before ECB easing decision
5 Jul at 9 AM
News Item Link: Euro on defensive before ECB easing decision
The euro hovered close to one-week lows earlier on Thursday, with subdued trading after the US Independence Day holiday and before a widely anticipated cut in interest rates by the European Central Bank today.
The ECB is set to make an announcement at 1145 GMT, which will be followed by ECB President Mario Draghi’s news conference. Any...
Euro off lows as Aussie eyes data
4 Jul at 11 AM
News Item Link: Euro off lows as Aussie eyes data
High-risk currencies such as the Australian dollar started Wednesday’s trading strongly, having performed better than their G3 counterparts with markets preparing for major central banks to announce more policy action.
However, among the world’s three most liquid currencies, the euro performed best. It was last seen trading at $1.2603,...
Forex options less bearish on sterling against dollar
3 Jul at 6 PM
News Item Link: Forex options less bearish on sterling against dollar
The Bank of England is expected to unveil plans later in the week to print billions more pounds in order to drive growth, but that hasn’t prevented investors from becoming less pessimistic regarding the currency’s prospects against the US dollar.
Risk reversals reveal that options investors are still hedging their bets on the pound...
Euro down against dollar
2 Jul at 2 PM
News Item Link: Euro down against dollar
The euro lost ground on the dollar today after the Netherlands and Finland did not back a plan that would see the euro region’s permanent bailout fund purchase government bonds within the secondary market.
This led to fresh uncertainty about a summit deal agreed last week to tackle the eurozone’s debt crisis in which leaders opted to...