Chinese will retain U.S. dollar assets
China announced that it would not be making efforts to get rid of the U.S. dollar as the world’s reserve currency any time soon. Indeed, China announced its support for the dollar as the world’s reserve currency.
The move helped increase confidence in the greenback, and led to strength for the dollar in forex trading. Boris Schlossberg reports in FX360 about the impact the Chinese announcement is having on the greenback in currency trading:(more…)
Sterling hits a 12-day high in forex trading
After struggling yesterday, the U.K. pound is surging higher in currency trading today. Earlier, sterling hit a 12-day high in forex trading, nearly reaching the 1.6600 level. The U.K. pound has backed off a little, moving back into the 1.65 area, but there is potential for more gains in the near future. GFT’s Boris Schlossberg points out in FX360 what may help fuel future gains by the U.K. pound in currency trading:
The pound hit (more…)
Greenback consolidates gains in forex trading
The Japanese yen is lower against the U.S. dollar in currency trading on the FX market today, following yesterday’s Fed announcement. The announcement pointed out that deflation was not much of a concern, and that inflation remains rather flat. The news prompted the greenback to gain in forex trading against major currencies.
Today, the U.S. dollar is consolidating some of its gains in currency trading. The yen has moved lower as the dollar retains the upper ha (more…)
Budget problems highlighted for euro zone
The euro is weakening in forex trading on the currency market right now as budget problems present issues. Even though the German Ifo is beating expectations, there is still some caution about the euro zone and its budget problems.
Indeed, concerns about an expected budget deficit in Germany is overcoming the positive Ifo data. With Germany one of the main drivers behind the euro zone economy, it is little surprise that the country is so influential when it comes the performance of th (more…)
