Forex News

The New Zealand dollar started this week losing versus the greenback and the yen as higher-yielding currencies attractiveness declined while risk aversion grew among traders globally, shunning investors from assets in the South Pacific region.

The yen started this week climbing versus several higher-yielding currencies worldwide as Asian stocks declined today, spurring demand for the safety of the yen, which is also benefiting from a new elected party in Japan, renewing hopes for the nation’s socioeconomic future.

In the end of this week’s session the Canadian dollar pared its previous gains as risk aversion rose this Friday, affecting U.S. stocks performance and also the crude oil, the main Canadian commodity exported to the United States, influencing the loonie’s outlook.

The Polish currency extended last week’s gain this week as the Eastern European nation is showing one of the quickest recoveries in the region, increasing attractiveness for the zloty regionally.

The dollar gained versus the euro and the pound in the very end of this week’s session as a bearish movement in stock markets increased attractiveness for the relative safety of the U.S. currency.

The Russian currency had the first gains after three days of losses versus the greenback as the crude oil rates climbed on speculations that demand will rise, suggesting that the one of the main global oil producers will export more of its commodities.

The yen continued to lose today versus most of the 16 main traded currencies as equities and commodities markets rebounded worldwide yesterday, as the global economic recovery is pushing investors to riskier assets.

The Brazilian currency touched the weakest level in August today on global economic concerns but rebounded after stocks and commodities climbed worldwide, spurring demand for emergent markets assets.

After two days of losses versus its U.S. counterpart as risk aversion climbed in trading markets worldwide, the Canadian dollar rebounded as stocks as the crude oil reverted their losing trends and gained today.

The pound is having a disappointing performance this week being traded today in the lowest level since June on concerns that new Chinese industrial regulations will reduce demand for British assets, affecting the already weakened U.K. currency.