Forex News

The Great Pound weakened today after the central bank’s policy makers suggested that the budget spending cuts might throw the Britain’s economy back into recession.

The euro strengthened today after the European Central Bank announced that it would lend the European banks less than was expected, fueling optimism for Europe’s fiscal system.

The Thai baht rose today after it previously fell as the political turmoil drove away the investors and prompted them to take away the fund from the nation’s equities.

The South Korean won slid today after the U.S. consumer sentiment slumped more than forecast, fueling doubts about the strength of the global economic recovery.

The Great Britain pound weakened today after the stocks dropped on the concern that the economic growth of China may slow, damping the demand for the currencies, considered being riskier.

The Canadian dollar today sank against its U.S. counterpart and weakened versus the euro on the concerns about the state of Europe’s economy and its banking system, causing the investors shun the higher-yielding stocks and commodities.

The Japanese yen rose today against the U.S. dollar and the euro as the speculation that the global recovery is faltering increased the demand for the safety, boosting the Japanese currency.

The Swiss franc advanced against the euro today to the record high level after the Swiss National Bank said that it’s not likely to intervene to prevent the franc’s appreciation.

The Great Britain pound strengthened today after the leaders of the Group of Twenty set the budget-deficit targets, stating that they would focus on the supporting the economic growth and would try to avoid levies on the banks.

The South African rand gained today as the attractiveness of the higher-yielding currencies increased after the Group of Twenty leaders discussed plans to curb the budget deficits.