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Weak business confidence data coming out of Germany and uncertainty over the economic situation in Greece saw the euro drop to its lowest level in two months. The euro is currently trading at $1.2702 after a fall to $1.2661. The euro was prevented from dropping further by hints that international lenders may be about to send further aid to...

The euro has strengthened following a successful sale of Italian five- and 10 year bonds that saw the country’s borrowing costs significantly reduced and data from Spain that shows that in the third-quarter the country’s economy contracted at a slower rate than expected. Having risen against the dollar after an announcement by the Bank...

Concerns over the health of the global economy and a decision by Moody’s to downgrade the credit rating in five regions across Spain has seen the euro and the yen drop against the US dollar. The current fears about global growth have been fuelled by reports of poor earnings from companies in the US. Spain’s borrowing costs rose after...

An announcement by credit ratings agency Moody’s that it does not intend to reduce Spain’s rating from investment grade helped the euro hit a four-week high against the dollar. Many analysts feared that the recession hit country might be downgraded to junk. Over the past few weeks the euro has found support from expectations that Spain...

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...

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...

Burma has revealed that it will start floating its currency as of 1 April in order to attract investors from abroad, reports the BBC The Central Bank of Myanmar (Burma) said that the local currency, the kyat, will be determined by supply and demand from now on. The target is to unify Burma’s various exchange rates. The country has been...

As prospects for a new wave of Federal Reserve easing have faded after positive jobs data from the US, the dollar hit a seven-week high against many other currencies on Wednesday and was broadly firmer in Asia. As the majority of American banks passed the Fed’s annual stress test yesterday, risk-takers were also provided with some comfort....

The US dollar lost ground on the majority of its major counterparts on Tuesday as investors acted on reports of a possible second bailout package for Greece, reports Forex. During the late US trade session, the dollar lost ground on the euro, with the euro gaining 0.87 on the dollar to hit 1.3244. The rally in the single currency was...

As reported by Reuters, the greenback battled against the yen on Thursday, having experienced a new three-month low for three straight days and heightening fears that Japan would act to weaken its currency. The dollar also lost its standing against commodity currencies and the euro as risk appetite improved after a series of Chinese...