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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...

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...

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 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...

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 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...

The yen hit new multi-month highs versus the dollar and the euro in Asian trade on Thursday as cautious traders snapped up the safe haven currency amid concerns over the faltering bank sector in Spain. The euro was at 97.47 yen in Tokyo, falling from 97.76 in New York trading on Wednesday and the lowest it has been since 16 January, when...

The euro rebounded from close to tow-year lows versus the dollar today, after the European Commission announced reforms to improve investor confidence, although gains were expected to be fleeting due to mounting fears over banks in Spain. The European Commission said that the eurozone should introduce a banking union and think about...

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...