Forex News

The Brazilian real, ranked as the best performing currency in foreign-exchange markets during the past year, posted another weekly drop and ended the month losing versus most of the main traded currencies as appeal for Brazilian raw materials declined on renewed risk aversion.

The Canadian dollar ended another week declining versus its U.S. counterpart and lower-yielding currencies despite a report showing that the nation’s economy grew for another month, as the U.S. GDP report had more impact in markets globally.

The Swiss franc retreated versus the euro and the pound after gaining sharply, on speculations that the nation’s central bank intervened to control the franc’s rally.

The euro lost today versus most of main traded currencies as rising budget deficits in some Eurozone member countries is shunning investors from the region, as well as speculations suggesting that Greece would leave the single currency affected market sentiment in the Euro area.

The dollar is going towards the end of this week with a positive performance versus most of its main trading partners currencies, after a GDP report published today brought figures beyond what analysts suggested, adding confidence for the U.S. economy and currency outlook.

The Chilean peso is facing its longest losing trend in more than a year as a combination of international risk aversion with poor national economic data is causing an exodus of capital from one of South America’s most dynamic economy.

The zloty advanced today versus the euro after a GDP report showed that Poland was the only EU member country to dodge recession in 2009, bringing regional investors to inject capital betting in the resilience of the Eastern European nation.

The euro slid today versus virtually all of 16 main traded currencies on foreign-exchange markets as some Eurozone member countries raising budget deficit is still affecting attractiveness for assets in the region, in a day were commodity linked currencies outperformed most currencies as risk appetite returned to markets.

The Japanese currency ended a rally fueled by risk aversion as a Federal Reserve statement published yesterday brought optimism to financial markets globally, decreasing appeal for refuge investments available in Japan, specially versus high-yielding currencies.

The Romanian leu gained versus the euro today after the International Monetary Fund affirmed it will release the currently stopped bail out program for the eastern European country, allowing the leu to beat several currencies in the region.