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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...

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...

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...

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...

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...

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...

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...

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’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...

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...