Forex News

The Polish currency gained today versus several currencies in the region and the U.S. dollar as GDP figures fort the third quarter beat forecasts, setting the confidence towards the Polish economic recovery to higher levels.

After Canada posted positive quarterly gross domestic product figures, the national currency benefited on the economic outlook and optimism, advancing versus most of the 16 main traded currencies in foreign-exchange markets.

The U.K. currency start this week falling versus the euro and several other currencies as report showed a decline in the domestic consumer confidence, indicating that the U.K. still hasn’t managed to surged from recession, forcing stocks in London down as well.

The U.S. currency started this week losing versus the euro and several high-yielding currencies as the United Arab Emirates central bank affirmed that it will guarantee payments delayed by the state-owned investment company Dubai World, shunning speculations that a new wave of negative events would be unleashed.

The Pound reverted a winning trend in the beginning of the week to plunge and lose versus most of the majors towards Friday’s session end, as stocks and commodities fell globally decreasing attractiveness for the U.K.’s currency, which is also facing a downgrade in its GDP forecasts figures.

The Brazilian currency was one of the multiple affected by a Dubai debt payment delay, setting the emergent market real to the third consecutive losing week versus the greenback.

After Dubai affirmed that it will delay its debt payments, emergent markets currencies like the Russian ruble rated among the most affected, but central bankers affirm that this decline will help exporters’ competitiveness, treating the event with an odd optimism.

After the yen touched a 14-year high this week versus the greenback as the Bank of Japan did not discussed the currency fluctuations, finally concerns emerged, as the current levels could be high enough to hurt the Japanese economy and its recovery process.

The Canadian dollar, which gained sharply versus the greenback on the beginning of the week, plunged since yesterday as Dubai World, a government owned investment company is trying to delay its debts payments, bringing risk aversion to high levels in foreign-exchange markets.

TAfter Dubai announced that it intends to delay debt payments, emergent markets and commodities fell worldwide, declining attractiveness for the South African currency in foreign-exchange markets this Thursday.