June 2012 UK Forex and Foreign Exchange News Archive
Archived Daily Wealth Management News...
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...
Euro rallies after support for Spain and Italy
30 Jun at 9 AM
News Item Link: Euro rallies after support for Spain and Italy
The euro climbed by 1.1 per cent and looked set for its biggest daily rise in eight months, after leaders from the region agreed on emergency action to lower Italy and Spain’s borrowing costs and put a single supervisory body in place for euro area banks. The European Union summit, which took place on Thursday and Friday, agreed to use...
Rupee down on oil demand
28 Jun at 9 AM
News Item Link: Rupee down on oil demand
The Indian rupee fell on Wednesday, remaining close to record low levels, as oil importers increased their dollar purchases in the closing stages of the month, while wariness in the build-up to a European Union summit lowered demand for risk currencies. Investors did not spot any intervention from the Reserve Bank of India (RBI) during the...
Pound stays lower against dollar as EU concerns dominate
27 Jun at 6 PM
News Item Link: Pound stays lower against dollar as EU concerns dominate
The sterling stayed lower versus the dollar on Wednesday , after positive US economic reports were released and skepticism about what will come from this week’s European summit continued to weigh on market sentiment. GBP/USD fell to 1.5546 in US morning trade, the lowest the pair has been since 25 June; subsequently, the pair...
Euro closes in on two-week lows
26 Jun at 6 PM
News Item Link: Euro closes in on two-week lows
The euro sat on the defensive close to a two-week low versus the dollar on Tuesday due to increasing concerns that this week’s European summit would come up with no solutions to the bloc’s debt crisis. The risk-averse mood contributed to a sharp rise in the Japanese yen following a two-month low versus the greenback, although the...
Dollar extends recent gains
25 Jun at 6 PM
News Item Link: Dollar extends recent gains
The safe-haven dollar climbed higher versus a basket of currencies on Monday, extending hefty gains made last week, as concerns about the global economy and the debt crisis in the eurozone dampened risk appetite. The greenback strengthened against the euro, shrugging off attempts by European officials to lessen funding strain’s on the...
Dollar index hits 9-day high
22 Jun at 10 AM
News Item Link: Dollar index hits 9-day high
The dollar climbed to its highest point in over a week versus a basket of major currencies today, driven by safe-haven flows as investors’ confidence in riskier currencies was hit by Moody’s decision to downgrade the world’s major banks as well as growth concerns. The euro fell to its lowest point versus the greenback in nine days as...
Dollar falls versus euro following Fed stimulus
21 Jun at 10 AM
News Item Link: Dollar falls versus euro following Fed stimulus
The dollar edged lower versus the euro on Wednesday following the Federal Reserve’s decision to extend its monetary stimulus, stating it was prepared to do even more in order to help a flagging US economic recovery. The Fed expanded its ‘Operation Twist’ scheme, an attempt to keep borrowing costs low by buying long-term securities...
Euro slips ahead of Fed decision
20 Jun at 4 PM
News Item Link: Euro slips ahead of Fed decision
The euro eased against the dollar on Wednesday but held on to much of Tuesday’s gains, with investors’ focus being on whether the Federal Reserve will launch further monetary stimulus in order to support the country’s flagging economic recovery. The single currency also gained support from indications that Greek parties could be set...
Dollar down on Fed stimulus view
19 Jun at 6 PM
News Item Link: Dollar down on Fed stimulus view
The dollar dropped across the board today on expectations that the Federal Reserve could ease monetary policy further following a series of downbeat economic data. Analysts predict that the Fed is set to extend its Operation Twist long-term bond-buying by several months from the current June deadline. The Fed’s rate-setting committee...
Euro down as Spanish troubles overshadow Greek elections
18 Jun at 2 PM
News Item Link: Euro down as Spanish troubles overshadow Greek elections
The euro dropped from a one-month high versus the dollar on Monday after the election win for Greece’s pro-bailout parties was offset by Spanish bond yields climbing back above the seven per cent mark which traders see as unsustainable. While the Greek election result allayed immediate worries of the country being forced to quit the...
Euro steady on central bank expectations
15 Jun at 2 PM
News Item Link: Euro steady on central bank expectations
The euro sat just below three-week highs versus the dollar today, steady on expectation that world central banks will counter any negative fallout from the Greek elections this Sunday. G20 officials said that central banks from key economies are ready to carry out action to ensure the stability of financial markets by offering liquidity...
Dollar loses ground on yen and euro
14 Jun at 4 PM
News Item Link: Dollar loses ground on yen and euro
The dollar fell to a session low versus the yen as well as extended losses versus the euro following job data from the US revealing that the amount of Americans claiming unemployment benefits unexpectedly increased last week. The greenback dropped to a two-day low of 79.14 yen. It had earlier been trading at 79.28 and was last seen trading...
Colombia finance minister urges more aggressive forex intervention
13 Jun at 4 PM
News Item Link: Colombia finance minister urges more aggressive forex intervention
Colombian Finance Minister Juan Carlos Echeverry said he wanted more aggressive foreign exchange market intervention to stem the peso’s strong gains. Colombia has attracted record-high foreign investment since defeating back leftist rebels during the past 10 years, which has boosted the economy but also applied appreciation pressure on...
Euro plummets to session low against dollar
12 Jun at 6 PM
News Item Link: Euro plummets to session low against dollar
The euro fell to a global session low versus the US dollar and increased its losses versus the yen in volatile trading during Tuesday’s trading as investors were not prepared to take risks. The single currency hit a low of $1.2442 and was last seen trading at $1.2450, falling 0.2 per cent since Monday trading. Meanwhile, versus the...
EU and Asian markets up from Spain banks deal
11 Jun at 6 PM
News Item Link: EU and Asian markets up from Spain banks deal
Both the euro and global stock markets gained in Asia following a deal to help Spain's troubled banks, which eased worries over a break up of the euro. In Asia, the euro went up 1% against the Japanese yen and US dollar. Stock indexes in Hong Kong and Japan also rose 2%. Last Saturday, EU ministers agreed to loan Spain a maximum of 100...
Fed offers no hint of monetary stimulus
8 Jun at 12 PM
News Item Link: Fed offers no hint of monetary stimulus
The euro and commodity prices fell today as gains triggered by a surprise interest rate cut in China quickly evaporated after the Federal Reserve gave no hint of imminent quantitative easing. Hedge funds were offloading the currencies, with traders citing talk that economic data from China due this weekend may be weak and that easing in...
Euro stays firm on policy hopes
7 Jun at 10 AM
News Item Link: Euro stays firm on policy hopes
The euro held firm versus the dollar today, as vague hopes of further policy action in the US and Europe led to short-term players winding back their hedges against the currency. The Australian dollar also helped boost risk sentiment as it climbed to a three-week high on the back of surprisingly positive Australian employment data. The...
Euro up on short covering with markets awaiting ECB
6 Jun at 6 PM
News Item Link: Euro up on short covering with markets awaiting ECB
The euro went up on Wednesday, although concerns about Spain’s precarious financial situation and the potential of the European Central Bank cutting rates could limit its increase. The single currency recouped Tuesday’s losses after a Spanish minister’s claims the nation was seeing access to credit markets disappear helped in part,...
Asian markets up after heavy sell off
5 Jun at 6 PM
News Item Link: Asian markets up after heavy sell off
Asian markets climbed on Tuesday and the euro regained some losses as traders cooled the heavy sell-off seen recently because of fears over the eurozone. With not much to boost sentiment following the weekend, analysts said that there was a chance to buy after the majority of regional bourses dropped into negative territory, the first time...
GBP/USD moves back to positive figures
4 Jun at 6 PM
News Item Link: GBP/USD moves back to positive figures
The sterling moved back to trading in positive territory today, bouncing back from five consecutive negative weeks, with sentiment at present gaining some traction. The sterling has taken a pounding during recent weeks, as the eurozone crisis was worsening because of Greek and Spanish woes, falling from highs of over 1.6300 to lows below...
Emerging Asian currencies climb but China slips
1 Jun at 10 AM
News Item Link: Emerging Asian currencies climb but China slips
Emerging Asian currencies crept up today, but the units were set for more losses as China’s weak data compounded concerns about global growth. The central bank in Indonesia was selling dollars in order to support the rupiah, driving one-month dollar-rupiah non-deliverable forwards (NDFs) down. The Indonesian currency also gained support...