UK Forex and Foreign Exchange News
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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...
Dollar up as data indicates US economic recovery
26 Jun at 9 AM
News Item Link: Dollar up as data indicates US economic recovery
A batch of broadly positive data coming out of the US has seen the dollar recover. The strong house price figures, and a rise in business spending, support the Federal Reserve’s view that the US economy is firmly on the road to recovery. Fed chairman Ben Bernanke recently announced that the central bank could begin reining in its policy of...
Euro up as all eyes focus on the Fed
19 Jun at 9 AM
News Item Link: Euro up as all eyes focus on the Fed
The US dollar has managed to crawl back a tad against a basket of other currencies, but remains close to a four-month low. Although the greenback is up slightly against the yen it is down against both the Swiss franc and the euro. Investors are now concentrating on the results of a policy meeting at the US Federal Reserve to see if Chairman...
Dollar hit by BoJ stimulus decision
12 Jun at 9 AM
News Item Link: Dollar hit by BoJ stimulus decision
The yen is up significantly against the US dollar following the Bank of Japan’s decision not to introduce any fresh stimulus. The worry for investors is that other central banks could also decide to cut short their easy money programmes. All eyes have been on the Federal Reserve recently to see whether its bond buying programme will be...
Dollar firm ahead of jobs report
5 Jun at 9 AM
News Item Link: Dollar firm ahead of jobs report
The US dollar has recovered some ground against the yen after falling to its lowest level in four weeks against the Japanese currency on Monday. The greenback was given additional support following reports that the Japanese government will push public pension funds to invest in overseas assets and equities. The dollar gained 0.4 per cent...
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...
Euro drops against the dollar
24 Apr at 9 AM
News Item Link: Euro drops against the dollar
The euro has ended at its lowest level against the US dollar in two weeks as weak data from Germany indicates that recovery in the eurozone remains sluggish. The news also means the European Central Bank could move ahead with an interest rate cut. At its lowest point the euro was trading at $1.2971 and was last at $1.2998. Data for April...
Euro rallies as gold prices stabilise
17 Apr at 9 AM
News Item Link: Euro rallies as gold prices stabilise
The yen has dropped against the euro and the US dollar as investor anxiety eased following the recent dramatic fall in gold prices. A fall in US factory output along with lower consumer prices has fuelled predictions that the US Federal Reserve will continue with its policy of monetary stimulus. Forex.com senior currency strategist, Eric...
Yen drops against US dollar
10 Apr at 9 AM
News Item Link: Yen drops against US dollar
The yen has ended near its lowest level in four years against the US dollar after the Bank of Japan announced last week that it will be implementing an ambitious monetary policy in order to boost the economy. The dollar is currently hovering around the 99 yen mark after earlier moving as high as 99.67 yen. According to some analysts there...
Dollar inches higher against yen and euro
3 Apr at 9 AM
News Item Link: Dollar inches higher against yen and euro
The yen has dipped slightly against the US dollar as has the euro ahead of policy meetings at both the European Central Bank and the Bank of Japan. The dollar is currently trading at 93.50 yen, a rise of 0.1 per cent. New governor of the BoJ, Haruhiko Kuroda, is expected to push forward with stimulus plans although the bar has been set...
Euro down as traders focus on Cyprus impact
27 Mar at 9 AM
News Item Link: Euro down as traders focus on Cyprus impact
The euro is currently at a four-month low against the US dollar as fears persist about the health of the single currency following a bailout deal with Cyprus. The worry is that bond holders and bank depositors could end up paying the price for other rescue deals within the bloc. Eurogroup head, Jeroen Dijsselbloem, originally said that the...
Euro continues to suffer
20 Mar at 9 AM
News Item Link: Euro continues to suffer
The euro is close to its lowest level in four months against the US dollar as Cyprus risks ejection from the eurozone after rejecting the terms of a bailout. However, many analysts believe that, as in the past, the European Union will work to hammer out a compromise as the implications of Cyprus being expelled from the single currency are too...