Greenback up broadly in forex tradingThe euro could not maintain its levels against the U.S. dollar, and general fatigue set in on the currency market as traders opted to stop selling the U.S. dollar. Now, the greenback is gaining against the major currencies in forex trading; even the U.K. pound has dropped back below $2. ABC Money reports on the U.S. dollar and currency trading:
The US dollar gained against the Japanese yen amid expectations the Bank of Japan will leave interest rates unchanged when it announces its decision tomorrow. The greenback als (more…)
The British pound heads slightly lower on the week in forex tradingThe U.K. pound is set for a weekly loss in currency trading on the FX market, although it is still hovering close to the $2 mark in forex trading. Bloomberg reports on the pound’s likely loss on the week on the currency market:
“The fall is from very high levels and the market’s been massively long sterling, so some retracement is natural,'’ said Marios Maratheftis, a currency strategist at Standard Chartered Plc in London. “Also the BOE said inflation will fall back to its target so th (more…)
Greenback rises against Japanese yen in currency tradingThe U.S. dollar is showing signs of strength against the Japanese yen in currency trading on the FX market as the carry trade continues after the G7 meeting over the weekend. Forbes reports on the rising success of the U.S. dollar in forex trading:
The US dollar was firmer in afternoon trading here, near its highs for the Asian session against the yen after the market interpreted the statement delivered at the end of the weekend meeting of the G7 finance minister and central bankers as tacit approval (more…)
Dollar down against pound, euro in currency tradingThe U.S. dollar is down in forex trading on interest rate differentials. Economic fundamentals in the U.S. appear to be weak, and this is likely to result in a rate cut by the U.S. Federal Reserve this year. Meanwhile, with expanding economies, interest rates in the eurozone and in Britain are expected to rise, buoying those currencies on the FX market. Xinhua reports on the U.S. dollar and currency trading:
"It’s interest rate differentials that are carrying the day against the do (more…)
