Forex News

The South Korean won rose today against the U.S. dollar, after posting a largest drop in more than 10 years yesterday, as the financial markets showed growth in U.S. and Asia.

The Malaysian ringgit declined to the lowest level in more than 21 months today as the concerns about the global economy growth rose and the stock markets tumbled world-wide.

The Australian dollar fell today against the Japanese yen after the U.S. stocks failed to demonstrate Monday’s growth and the Japanese Nikkei showed poor dynamics during the earlier Asian trading session.

The Japanese currency fell for a third day today after the the investors gained more confidence that the governments of the developed countries will bailout the troubled banks and will pour out liquidity into the financial markets as needed.

The European currency rose today at the highest rate in the last three weeks against the U.S. dollar after the European leaders pledged to guarantee bank borrowings.

The Canadian dollar fell to the weakest level against the U.S. dollar in more than 18 months after crude oil and commodity prices fell significantly on speculation that the global demand will decline.

The Indian rupee fell to the new record low level versus the U.S. dollar today as the foreign investors pulled out capital out of the country’s markets amid deepening of the global financial crisis.

The Japanese yen fell against other major currencies today after reaching record highs yesterday as the massive rate cut by the world’s major central banks inspired some confidence in the stock markets.

The Japanese yen demonstrated a breakthrough growth against almost all major currencies today as the stocks tumbled globally and traders sought the «safe haven» assets.

The Australian dollar got boosted by the central bank’s decision to cut the interest rate by 1 percentage point today and recovered against the other major currencies during the Asian trading session.