March 2013 FX News

Archived Daily FX News from the TorFX Foreign Exchange Specialists...

Dollar remains steady following interest rate speculation 25 Mar at 5 AM It appears that the recent sell-off of the US dollar has come to an end as the greenback finds firmer footing. Following a one-month low of 119.22 yen the dollar has recovered to trade at 119.73 but may still struggle to breach the 120 yen mark.

The euro has retreated from $1.10295 to $1.0915. The single currency has suffered...
Dollar drops against the euro 20 Mar at 10 AM The euro has risen against the US dollar and looks likely to hit an 18-month high by the end of the week. The recovery of the single currency has been given a boost by a dollar sell-off after the Federal Reserve indicated it was being cautious about any imminent hike in interest rates.

The greenback is down against a raft of...
Dollar drops on disappointing data 13 Mar at 5 AM The dollar has slipped slightly following disappointing retail sales figures in the US. The greenback had previously been enjoying multi-year highs. The dollar index settled at 99.272 after hitting a peak of 100.060, the highest it has been since April 2003. The 0.4 per cent fall is the steepest in a month.

However, the dollar...
Dollar index hits highest level since 2003 2 Mar at 9 PM The dollar index has hit its highest level in 11 years as the euro surrenders early gains against its US rival. The greenback has been doing well because of a positive economic outlook in the US and expectations that the Federal Reserve is soon to hike interest rates.

Following initial gains the single currency has settled at...
Dollar makes slight gains on positive economic data 26 Mar at 8 AM The dollar has ended slightly up against a number of its rivals as the European Central Bank looks at further easing and analysts play down the strength of consumer confidence in the US. News that confidence was higher than expected during March earlier pushed the dollar to its highest level since the beginning of 2009.

Traders...
Crimea situation pushes yen 17 Mar at 8 AM The safe-haven yen is riding high after the citizens of Crimea voted in favour of annexation by Russia at the weekend. More than 90 per cent of the referendum votes were reportedly cast in favour of a break with Ukraine. Although the West has been quick to denounce the situation, tensions have pushed investors towards the low-risk Japanese...
Yen holding firm 12 Mar at 8 AM Investors appear to be in a cautious mood because of tension between Russia and Ukraine and because of concerns over the economic health of China. The yen is holding firm against the dollar, which is worth 103.01 yen. The dollar has improved slightly after positive job figures from the US at the end of last week.

The safe haven...
Yen hit by growing appetite for risk 5 Mar at 8 AM As investor confidence grows for riskier bets, the yen has suffered heavy losses across the board. The safe haven currency has experienced a reversal of fortune as the threat of war in Ukraine eases.

The dollar has recovered from Tuesday’s 101.40 yen low to hit 102.26. The euro has also risen from 139.28 yen to 140.49. The...
Euro and yen down 27 Mar at 9 AM The euro is trading at its lowest level against the dollar in four months as suspicions remain about the ‘Cyprus model’. However, fears of contagion in countries like Spain and Italy appear to be subsiding. The yen has also come under pressure as analysts predict that an upcoming policy meeting at the Bank of Japan under new governor...
Euro extends losses on Cyprus uncertainty 20 Mar at 9 AM The euro is likely to extend recent losses as the future of the single currency is once again called into question by the economic problems in Cyprus. The island country’s parliament has voted against a levy on bank deposits that was needed as a condition for a bailout.

The euro fell 0.5 per cent to $1.2894 having previously...
Yen under pressure ahead of leadership change at BoJ 13 Mar at 9 AM Share prices in Asia have been capped as investors become wary of mixed results from global equities as well as recent index highs. The Dow Jones Industrial Average again closed at a record high yesterday, the eighth day it has done so in a row. Shares in the Asia-Pacific outside of Japan have remained static. However, they have been weighed...
Euro holds firm as appetite for risk increases 6 Mar at 9 AM The prospect of further monetary easing by the Bank of Japan, Bank of England and European Central Bank along with a commitment by the US Federal Reserve to a programme of bond buying has helped to hold up commodity currencies and the euro. The single currency has also been helped by the record-closing high hit by the Dow Jones Industrial...

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