Forex News

The Japanese yen grows against the U.S. dollar today after yesterday’s correction on USD/JPY pair, as the traders are speculating on the possible funds repatriation performed by the Japanese exporting companies.

The pound has been recovering steadily this week and extended its gains this Thursday as mortgage approvals in the British Isles rose, adding investors’ confidence to inject capital in the U.K.’s financial sector, fueling attractiveness for the British currency.

The Brazilian had one of the sharpest climbs versus the U.S. dollar today as both the domestic and international economic scenario set the risk appetite high increasing appeal for emergent market currencies, and setting the greenback down versus most of the 16 main traded currencies.

The Canadian dollar, which posted consecutive days of losses during this week changed its negative trend after stocks recovered globally fueled by a report that showed a quarterly growth for the U.S. economy, which sparked risk appetite once again among traders.

A decline in crude oil rates forced down a basket of currencies which are originally from oil exporter countries, which is the case for the Mexican peso, continuing a losing streak versus the U.S. dollar that started as risk aversion emerged this week.

The Norwegian krone lost versus currencies like the dollar and the yen, as traders become more risk averse as a negative home sales report was published in the United States, affecting commodities rates and consequently the krone.

Markets were affected by pessimism today after a monthly U.S. home sales report was published with rather unexpected negative figures, helping the dollar to gain versus almost all of 16 main traded currencies, as risk averse traders opted for safety this Wednesday in trading markets.

This week is being one of the most negative for the Canadian currency in months, as stocks and commodities declined significantly, and considering the loonie one of the most influenced currencies by these movements, today’s drop set the Canadian currency to the lowest level in 3 weeks versus the greenback.

Speculations that retail sales would post another month of gains were confirmed providing support for the pound to regain terrain versus the euro and several other currencies, changing the negative outlook for the British currency to a better trajectory.

The Swedish currency has been one of the biggest losers in the European currency market as producer prices declined again in September, raising concerns towards the economic recovery in the country.