Archive for July, 2008

ZAR Trades Near 6-Month High vs. Dollar

Thursday, July 31st, 2008

South African randThe rand of South Africa traded near its 6-month highest value against the U.S. dollar today before and after the report that showed acceleration in the producer price index last month.

Australian Dollar Falls on Housing Decline

Wednesday, July 30th, 2008

Australian dollarThe Australian dollar fell today to the the one-month lowest level against the U.S. dollar after the report of unexpected drop in housing approvals in June.

Building Approvals Slump in New Zealand

Tuesday, July 29th, 2008

New Zealand dollarThe New Zealand dollar fell significantly against the other currencies today after the release of the report that showed that the home-building approvals in the country declined to the lowest level in almost 22 years in June.

Dollar Falls vs. Euro, Yen on Recession Fears

Monday, July 28th, 2008

U.S. dollarAs the investors feared that the U.S. financial institutions will continue to lose on the credit crunch and the oil prices rose, the U.S. dollar declined from its local maximums against euro and yen.

Yen Gains versus Euro on Stocks Decline

Friday, July 25th, 2008

Japanese YenThe Japanese yen gained against the euro and other currencies on the Forex market today, making this week the first bullish one since May, as the stock markets declined world-wide spurring sell-off on the carry trade market.

NZD at Lowest since January on Rate Cut

Thursday, July 24th, 2008

New Zealand dollarThe New Zealand dollar fell to its 6-month low level against the U.S. dollar after the Reserve Bank of New Zealand cut the interest rate by a quarter percent point in its first rate reduction in the last five years.

Pound Drops on Blanchflower’s Comment

Monday, July 21st, 2008

Great Britain PoundThe Great Britain pound fell today against its major counterparts after the private report on July house prices decline and the commentary made by the Bank of England policy maker.

Chilean Peso is the Worst Performing Currency

Saturday, July 19th, 2008

Chilean pesoThe Chilean peso became the worst performing currency in the last three months as the inflation soared and the central bank kept supporting exporters.

Rand Goes for a Fifth Weekly Gain

Friday, July 18th, 2008

South African randThe South African currency headed for its fifth straight weekly growth against the U.S. dollar today as the traders speculated on the higher demand for the local currency from the carry trade participants.

Yuan Declines for a First Time since Monday

Thursday, July 17th, 2008

Chinese yuanThe Chinese yuan showed the first declining day since Monday on Forex today as the traders were driven by the speculations that the government will let national currency weaken slightly to support exporters.