Sterling down in forex tradingThe U.K. pound is dropping on the currency market as it runs into housing data that shows a slowing economy. With housing prices down, evidence of a slowing British economy is weighing on the sterling in forex trading. Reuters reports on the U.K. pound on the currency market:
The pound fell 0.7 percent versus the dollar to $2.0661, hit by Nationwide housing data that showed house prices falling at their sharpest rate in 12 years.See AlsoU.K. Pound on the FX MarketForex trading on the currency market (more…)
Ben Bernanke’s comments fuel demand for risky currency tradingIn forex trading, risk appetite can be given a boost when policymakers release statements. Recent statements by Federal Reserve Chairman Ben Bernanke are fueling a current return to risk appetite in currency trading on the FX market. The new of a possible Fed rate cut is boosting emerging market currencies and high yielders (like the Australian dollar) higher in forex trading. Reuters reports on currency trading on the FX market:
"If we take Mr Bernanke’s and Mr Kohn’s comments as implyin (more…)
Sterling up in forex trading against euro, dollarThe U.K. pound is making gains in currency trading on the FX market as it gains in forex trading against the euro and the dollar. Sterling is strong in forex trading as stock gains buoy the economy and the carry trade comes into favor. Bloomberg reports on the U.K. pound in currency trading:
“The appetite for the carry trade is giving sterling a bit of impetus,'’ said Jeremy Stretch, a senior market strategist at Rabobank Groep in London. “The pound is holding on quite well'’ and may trade as high $2.076 (more…)
Currency trading this morningThe U.S. dollar is moving higher this morning in currency trading on the FX market, gaining against major currencies, due in great measure to the Citigroup deal. Forbes reports the forex trading rates from this morning:
The euro traded at US$1.4854, down from US$1.4868 late Monday in New York.
Other dollar rates:
_108.22 Japanese yen, up from 107.86
_1.0998 Swiss francs, up from 1.0988
_0.9926 Canadian dollars, up from 0.9878
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