Forex News

The Australian dollar reached the new monthly maximum the Japanese yen as the stock markets signaled growth for a third day on improved earnings of the banks.

The yen declined for the third day in a row against the dollar, the euro and the pound today as the Bank of Japan decided to buy the government debt and the stock markets rose during the Asian trading session.

The New Zealand dollar propelled to the monthly high against the U.S. dollar today, rising for the second day, as the stock marked continued to grow globally, improving the appeal of the higher yielding currencies.

The Japanese yen rose against the U.S. dollar for the third day in a row today as the global recession boosted the demand for the «safe haven» currencies, decreasing the attractiveness of the high-yielding assets.

The yen rose today against the other major currencies on Forex as the China’s exports declined at a record fast pace and the largest Swiss bank reported an increased loss.

The South Korean won rose for the third day against the U.S. dollar today as some Asian stock markets showed the growth and the high-yielding currencies were favored by the traders.

The British pound fell against all major currencies today on the concerns that the United Kingdom’s largest bank will have a disastrous time handling the bad loans of its United States unit.

The U.S. dollar declined today against the other major currencies, after showing a good performance yesterday, as the investors expect that the labor market reports, that are to be released today, will signal a further worsening of the recession in the United States.

The Indian rupee declined against the U.S. dollar today, almost reaching a new record-low level, as the domestic companies converted to dollars in order to pay for the imported goods.

The U.S. dollar rose against the the Japanese yen and the Australian dollar today as the investors sought the safety for their funds after the yesterday’s optimism vanished on the bad report for the Australian fourth quarter GDP change.