Forex News

The currency of the United Europe reached a new record high level against the British pound today as the estimate for the consumer inflation in Eurozone rose unexpectedly in March.

The Reserve Bank of New Zealand Governor, Alan Bollard, said yesterday that he won’t be reducing the country’s key interest rate from its record high value in 2008, because the national inflation still remains the major concern.

The South Korean currency is heading for more losses as the government is searching for ways to support the exporting companies and the economic growth.

The U.S. dollar is trading higher than its yesterday’s close level now as the investors are waiting for the fourth quarter GDP data to be released today.

The commentary on the current account deficit in United Kingdom pulled the Great Britain pound down today, as it added one more reason for the British currency to be less favored by the Forex trading institutions.

Both Australian and New Zealand dollar continued to rise today after the yesterday’s fast growth as the investors remained confident in the stock markets’ improvement and in the carry trade.

The Japanese yen declined today from its recent high values against the U.S. dollar, pound and euro as the global stock markets gained and the high-yielding assets looked more attractive than on the last week.

The Indian rupee rose significantly today on Forex as the markets were restoring from the recent sharp fall and the economies of the developing countries started to receive more capital inflows.

Chilean peso fell from it’s recent record high value against the U.S. dollar yesterday as the copper price slid down significantly on the global concerns of thedecveloped economies’ slowdown.

The Chinese yuan rose to the highest rate against the U.S. dollar since the end of the yuan’s peg to dollar in 2005 as the government is believed to start fighting the domestic inflation rate more devotedly.