The following Forex news reports are the latest developments of the Forex market. The news reports are updated frequently and include all the events that affect the foreign exchange trading industry.
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The USD declined on Thursday, hitting a seven-week low point versus the Japanese currency and a 28-year low against the AUD currency after traders took falls in U.S. bond yields as a cue to get rid of it.
The USD became stable on Wednesday after a sharp increase in U.S. Treasury yields assisted its recovery from a sharp decline vs the euro in a yo yo session the previous day marked by thin year-end flows.
The EUR experienced a sharp increase as bears were forced to abandon their positions on Tuesday while the USD came under agressive pressure to sell, hitting a three-week low point versus the Japanese currency and a seven-week low against the Australian dollar.
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The AUD declined on Monday after China's central bank increased rates over the weekend, and some analysts say chances of more tightening by China could cause investors to sell the Aussie following the year-end holidays.
The EUR stood its ground on Friday after making a comeback from an all time low versus the Swiss franc and a three-week low vs the dollar.
The European currency enjoyed a comeback in Asia on Thursday, having reached an all time low againt the Swiss franc overnight, with traders finding increasing buying interest emerging from players in the area specifically central banks.
The Euro is holding steady in Asian trading today following yesterday’s plunge precipitated by dual announcements from Moody’s and Fitch’s, the rating agencies, that they may, respectively, downgrade Portuguese and Greek debt.
The common currency reversed positions against the U.S. Dollar and the Japanese Yen in the Asian trading session when one official from the Chinese government endorsed the efforts being undertaken by the European Union to stabilize Eurozone financial markets. As reported at 1:49 p.m. (JST) in Tokyo, the Euro traded against the greenback at $1.3194, a session high; on Monday, the Euro struck a 2-week low. Against the Japanese Yen, the Euro was trading at 110.18 Yen, up from 109.90 Yen earlier.
The U.S. Dollar continues to strengthen against the common currency Euro as investors remain fearful that more Eurozone nations will finally acknowledge the difficulties they’re having working within their fiscal budgets.
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The fallout from the Irish downgrade continues to push the common currency lower; today in Tokyo, the Euro slipped to a 2-week trough versus the U.S. Dollar, and appears vulnerable to further losses.
The common currency Euro slipped against the U.S. Dollar in London trading today as Moody’s, the credit rating agency, downgraded Irish debt from AA2 to BAA1.
The U.S. Dollar lost ground against the common currency Euro in early morning trading in New York; as reported at 9:11 a.m. (EST) in New York, the U.S. Dollar was trading at $1.3241 against the Euro.
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Sign up to get the latest market updates and free signals directly to your inbox.Even as the Euro steadies in choppy Asian trading, it remains vulnerable to further declines as the E.U. summit begins later today. As reported at 12:27 p.m. (JST) in Tokyo, the Euro was trading relatively flat against the U.S. Dollar, holding at $1.3215.
The U.S. Dollar continued its gains against the common currency Euro and the Japanese Yen following the release of better than expected consumer price data earlier today
The Euro slipped lower in Asian trading today as Moody’s credit rating agency put Spanish debt under review with the possibility of a downgrade from their current AA1 rating.