August 2013 FX News

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

Euro drops on weak European recovery 28 Aug at 5 AM The euro has plunged to its lowest level in a year against the US dollar as the European Central Bank looks likely to introduce further easing. The single currency has also been hit by weak economic data coming out of the eurozone. Earlier this week the troubled currency fell to a low of $1.3178 before recovering slightly to $1.3200.
Dollar strong on positive housing data 20 Aug at 5 AM Positive US housing figures have helped to hold the dollar at an eleven-month high. The dollar index recently touched 81.899 before falling back to 81.870, the highest it has been since last September. The housing figures suggest that the world’s largest economy is continuing on its road to recovery.

Building permits and...
Euro remains steady despite disappointing data 15 Aug at 9 AM The euro remains steady as growth data and inflation remain soft in the eurozone prompting expectations of European Central Bank stimulus plans. The single currency has also been given a boost after the dollar was hit by weaker than expected jobs data coming out of the US last week.

Following a drop to $1.3348 the euro recovered...
Euro weakened by stimulus measures 8 Aug at 5 AM A decision by the European Central Bank not to increase interest rates has left the Euro weaker at the end of the week. A fragile economic recovery is likely to mean that stimulus measures will remain in place for the foreseeable future. Although the decision was not a surprise, there is now a marked difference between policy tightening in...
Dollar up on positive economic data 30 Aug at 9 AM Positive economic data coming out of the US has helped the dollar to remain steady close to its highest level in almost four weeks. Having reached a high of 98.48 yen, the greenback eased 0.1 per cent to 98.26 yen. The Japanese currency is being buoyed by Japanese exporters’ month-end flows.

Following a sell-off of Asian...
Dollar pulls back slightly against the yen 29 Aug at 9 AM Although the cloud of geopolitical turmoil in the Middle East continues to hang over the money markets, the US dollar has managed to regain some ground against the yen. The Japanese currency, considered a safe haven by investors, hit a three-week high against the greenback yesterday. However, the dollar is currently up from 96.81 yen to 97.63...
Yen up against euro and dollar 28 Aug at 9 AM The yen, considered a safe-haven currency in a crisis, has hit its highest levels in a week against both the US dollar and the euro. The markets are currently jittery as the world watches to see how the West will react to Syria. The US and her allies look like they may well be gearing up for a military strike.

The intervention...
Yen and Swiss franc attract safe haven investment 27 Aug at 12 PM The Swiss franc and yen have risen against a basket of currencies as tensions between the West and Syria escalate. Investors are looking to safe havens which means riskier currencies like the Australian dollar have come under pressure. The US dollar is down 0.3 per cent against the yen to 98.15 yen, a drop from the 99.15 yen recorded at the...
Currencies remain steady on Monday trading 26 Aug at 9 AM The US dollar may be set for a rebound as it remains steady against a basket of other currencies. Although there was a bit of a wobble against the yen earlier that saw the greenback drop as low as 98.17 yen, it soon recovered to 98.72 yen. In New York the dollar is holding firm against the euro at $1.3381. The single currency has been...
Dollar gains against the yen 23 Aug at 9 AM An increase in US Treasury yields and confidence that the Federal Reserve will begin to scale back its quantitative easing programme have helped the dollar regain its footing against the yen. Having risen 1 per cent on Thursday against the Japanese currency the dollar was last up 0.3 per cent to 98.96 yen.

On Thursday, the...
Dollar bounces back after Fed meeting 22 Aug at 9 AM The US dollar has bounced back after minutes of a Federal Reserve policy meeting suggest that the central bank is on track to reel in its bond buying programme as soon as next month. The greenback was also given a boost after manufacturing figures from China indicated growth during August.

After a high of 98.33 yen the dollar...
Dollar drops against other leading currencies 21 Aug at 9 AM The US dollar has fallen to its lowest level against the euro in six months on the back of uncertainty about the Federal Reserve’s intentions about pulling in its monetary stimulus policy and a reduction in US Treasury yields. Retreating yields mean that dollar-priced assets become less attractive to investors.

If the Fed does...
Yen strengthens on weak global stocks 20 Aug at 10 AM The yen has been the big winner as weak global stocks and an emerging market currencies sell-off comes ahead of a meeting at the Federal Reserve scheduled for tomorrow. There are wide expectations that the central bank could scale back its bond-buying programme as soon as next month.

The Japanese currency tends to do well during...
Dollar up ahead of Fed meeting this week 19 Aug at 11 AM The US dollar has made a small gain against a number of rival currencies ahead of a policy meeting at the Federal Reserve later in the week. The dollar index gained 0.1 per cent to hit 81.352. It is likely that the greenback will do even better if the minutes of the Fed meeting point to a reeling in of the central bank’s bond buying...
Dollar reverses earlier gains 16 Aug at 9 AM Yesterday’s dollar rally has been reversed because it is now questionable whether the Federal Reserve will reel in its stimulus programme as soon as had been previously expected. The greenback had risen on the back of positive jobless figures on Thursday only to lose the gains after industrial and manufacturing data proved...
Euro up slightly on positive economic reports 15 Aug at 12 PM Data indicating that the eurozone emerged from recession during the second quarter of the year has had little effect on the euro. The single currency remained steady against the dollar after an initial jump. The dollar remains relatively strong because of growing expectations that the US Federal Reserve will scale back its easy money policy,...
New Zealand dollar doing well 14 Aug at 1 PM The dollar is riding slightly up on previous betting. Treasury retail gamblers indicate that the Fed will soon bring in its massive bond-buying programme. The greenback has rocketed to 98.25 yen. All bets are on the central bank will tapering quantitative easing as early as next month.

Following a high of $1.3316, the euro slid...
Dollar recovers against the yen 13 Aug at 9 AM The dollar was up on Monday as expectations that economic data to be released this week will be strong enough to encourage the Federal Reserve to rein in its stimulus programme in the near future. Retail figures due to be released today are expected to be positive.

Although the dollar was driven higher earlier in the year on the...
Dollar improves as positive US data expected 12 Aug at 11 AM The US dollar has recovered against a number of other major currencies after dipping at the end of last week. On Friday the greenback fell against the yen, but poor Japanese economic data has resulted in some recovery. The dollar is up 0.5 per cent against its Japanese rival to 96.79 yen. Last Thursday the dollar hit a seven-week trough of...
Euro up on positive German data 9 Aug at 9 AM The dollar was down against the euro earlier as better than expected export data was released from Germany. In the US, jobless claims have improved strengthening expectations that the US Federal Reserve will not push back its plans to taper its easy money policy.

The euro ended trading at 1.3393 against the greenback, an increase...
US dollar slumps against strengthening yen 8 Aug at 9 AM The US dollar has dropped to its lowest level against the yen in seven weeks amid concerns that the greenback could be entering a new period of weakness. In just one month the dollar has lost four per cent as the yen hit a peak of 96.30.

The Australian dollar remains vulnerable as analysts concentrate on Australian jobs data and...

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