Korean Won at Lowest since 2005
May 8th, 2008
The South Korean won declined to its lowest level since November 2005, as the country’s central bank said that the weaker currency will be helping against the economic stagnation.
Dollar Rose on Hoenig’s Hawkish Comments
May 7th, 2008
The U.S. dollar rose today during the late Asian Forex trading session, as the traders reacted on the hawkish commentary by the Federal Reserve Bank of Kansas City President Thomas Hoenig.
AUD Stops Growth after RBA Statement
May 6th, 2008
The Australian dollar stopped growing on the Forex market today after the Reserve Bank of Australia mentioned economical growth moderation in its monetary policy statement.
Bank of America Confident on INR Growth
May 5th, 2008
The Indian rupee is going to grow in the coming months as the central bank will probably rise the interest rate and will allow currency’s appreciation according to Bank of America strategist.
Euro Rose on Support of ECB Rates
May 5th, 2008
The euro rose today during the early Forex trading session, as the European politicians changed their mind on the ECB interest rate policy and traders became more confident that Jean-Claude Trichet won’t reduce the rates this week.
Japan, South Korea and China to Create Foreign Reserve Pool
May 4th, 2008
According to the Finance Minister of Japan, Fukushiro Nukaga, Japan, South Korea and China are in the process of creating the mutual pool of $80 billion foreign currency reserves in order to protect the Asian financial markets in case of a speculative attacks.
Kuwait: GCC to Abandon Dollar
May 2nd, 2008
Kuwaiti Finance Minister has said that the Gulf Cooperation Council countries, U.A.E., Qatar and Bahrain specifically, are planning to scrap their currencies’ peg to dollar soon.
Yen Falls for Second Day as Stocks Bloom
May 2nd, 2008
Today the yen fell for the second day in a row on Forex as the stock markets rallied and the traders looked for the more high-yielding assets, selling the Japanese currency for dollar and other risky currencies.
FOMC Reduces Rate, Hopes for Better
April 30th, 2008The Federal Reserve lowered the federal funds rate from 2.25% to 2% today during the scheduled meeting of the Federal Open Market Committee, saying that the current measures may be enough to remove the risks.
Dollar Steady ahead of FOMC Meeting
April 30th, 2008The U.S. dollar continues to head for the first monthly gain against its European counterpart this year as the market participants await the FOMC rate decision and a statement that are scheduled for release today.