Yield attracts currency traders to down under currenciesThe Aussie and the kiwi are up in forex trading on the currency market as traders flock to take advantage of the high yields offered by down under currencies. Both Australia and New Zealand have been worried about inflation, and that means that interest rate hikes continue to give the down under currencies yield advantage. Bloomberg reports on the Aussie and kiwi in forex trading:
“We’re very bullish on Australia,'’ said Horii, who helps manage the $50.2 billion Kokusai Global Sovereign Open fund, (more…)
Currency trading with the sterlingThe U.K. pound is gaining on the FX market this morning as economic data shows that things aren’t as bad as once thought in Britain. Retail sales are showing that consumer spending is not in a state of collapse, and this is offering hope for the British economy. Bloomberg has news on the sterling and forex trading:
Britain’s currency, which rose against 13 of its 16 most- active counterparts tracked by Bloomberg, climbed to $1.9876 as of 7:53 a.m. in London, from $1.9843 yesterday in New York. It was (more…)
Currency trading with low yieldersLow yielding currencies like the Japanese yen and the Swiss franc are on the rise in forex trading on the currency market as risk aversion sets in. Concerns about the US economy, and equities, are affecting the FX market. The carry trade, a risky move in currency trading, is unpopular right now as people worry about the market. Bloomberg reports on the Japanese yen and Swiss franc in forex trading:
“The market is driven by fear,'’ said Hans-Guenter Redeker, London-based head of currency strategy at BNP Paribas SA, Franc (more…)
Forex trading rates this morningThe U.S. dollar is mixed today in European trading on the FX market. Here are some of the currency trading quotes this morning:
The euro traded at $1.4860, down from $1.4898 late Wednesday in New York.
Other dollar rates:
_106.47 Japanese yen, down from 106.95
_1.0800 Swiss francs, down from 1.0857
_0.9949 Canadian dollars, up from 0.9886
The British pound was quoted at $1.9917, down from $1.9942.
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