Forex News

The Japanese yen is holding steady on the Forex market today after interest rate was left unchanged at 0.5% and the stock markets fell slightly.

The Great Britain pound fell sharply today against dollar, euro and yen as the house prices fell in March by 2.5%, indicating that the country’s mortgage market slump is not over yet.

The South African rand grew today against the U.S. dollar (and the other world currencies too, because dollar is rising today) as the report showed an increase in the country’s foreign currency reserves in March.

The U.S. dollar is heading for the fastest weekly gain in more than four years versus the Japanese yen as the financial markets get a feeling of relief from the crisis.

The Canadian dollar continued its two-day growth against the U.S. dollar and the Japanese yen today, as the commodity markets showed that are still able to grow.

The U.S. dollar stopped its 2 days growth period and started to go bearish against other currencies today after the Asian trading session ended. Investors’ attention turned to the Fed chairman Ben Bernanke’s testimony before the U. S. Congress that is scheduled for today.

The United Arab Emirates government has established a new committee, which purpose is to study the possibility of scrapping the dirham’s peg to the U.S. dollar and the reasons to maintain this peg.