Forex News News
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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...
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 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...
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 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...
Pound drops against disappointing industrial output
13 Mar at 9 AM
News Item Link: Pound drops against disappointing industrial output
An unexpected fall in industrial output in January has seen sterling weaken to $1.4832, the lowest level for the pound against the dollar since June 2010. The British currency also hit A$1.4370, its lowest point against the Aussie since 1985. In a note ANZ pointed to a lack of fresh initiatives and a lack of ability to ease fiscal policy at...