The Indian rupee declined against the U.S. dollar today and is currently ready to show the biggest weekly drop since the beginning of the year as the slump of the U.S. stock markets was followed by the decline in the Asian markets.
The Australian dollar showed the second day of growth against the U.S. dollar and the Japanese yen today as the traders feel a growing confidence in the Australian economy after the much-needed stimulus package has been adopted there.
The euro posted a moderate daily gain against the other major currencies today after some regional banks reported not-so-bad results for the fourth quarter of 2008.
The European single currency reached its lowest level against the dollar since the early December as the Forex traders expect that the ZEW Survey report will show that the Eurozone’s business confidence is at the very low levels today.
The South Korean won declined to almost two-month low level against the U.S. dollar today as the global economic crisis worsened, prompting investors to sell the emerging markets’ assets.
The British pound showed the first daily gain today after three consecutive losses against the U.S. dollar as the country’s stock market showed an unexpected growth.
The Australian dollar declined against the U.S. dollar, the Japanese yen and the euro today as the country’s senate refused to adopt the Prime Minister’s stimulus package worth of $27.4 billion.
The Great Britain pound continued to fall against the other major currencies today as the traders expect the negative results from the jobs and inflation reports today.
The euro fell against the U.S. dollar and other major currencies, except the pound, as the Russian banks are waiting from their government to negotiate the $400 billion of loans with their mostly European creditors.
The Japanese yen rose by the most in February against the U.S. dollar and posted the considerable gains versus the euro and the pound as the investors and traders became less confident in the U.S. stimulus plans and were reluctant to buying anything else than the yen or the greenback.
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