The euro struggled this week to sustain its rally against the US dollar. The speculation that the euro was overbought limited its gains but the fundamentals were supporting the currency for the most part.
Dollar Attempts to Reverse Downward Trend Ahead of G-20 Meeting
October 22nd, 2010 at 20:55
The US dollar fluctuated today, attempting to rise but meeting a resistance, as Timothy Geithner, the US Secretary of the Treasury, suggested that the G-20 countries should agreed on the targets to reduce the current account imbalances.
Pound Weakens Ahead of G-20 Meeting
October 22nd, 2010 at 16:44
The Great Britain pound fluctuated today against the US dollar and the Japanese yen after it dropped earlier on the outlook for so-called quantitative easing by the Bank of England.
German Business Confidence Supports Euro
October 22nd, 2010 at 14:46
The euro rose today against the Swiss franc after the report showed the unexpected growth of the German business confidence. The euro fluctuated versus the US dollar, but had tendency to rise gradually.
Falling Leading Index & Economic Confidence Drive Loonie Down
October 21st, 2010 at 17:26
The Canadian dollar resumed its decline versus the US currency and extended its losses versus the euro today after the leading indicators dropped and the report showed that the economic confidence deteriorated.
China’s Growth Boosts Singapore Dollar
October 21st, 2010 at 13:52
The Singapore dollar rose today on the speculation that the accelerating China’s economic growth would attract the investors to Asia, increasing the appeal of the region’s currencies.
Unexpected Manufacturing Growth Helps Euro to Rise
The euro gained today for the second day against the US dollar and also rose versus other currencies after the Eurozone Manufacturing PMI unexpectedly increased.
Loonie Rises vs. Greenback, Can It Sustain Its Strength?
October 21st, 2010 at 2:13
The Canadian dollar rose against its US counterpart on the gains of the stocks and raw materials, but the future of the currency amid the economic turbulence across the world remains unclear. Canada’s currency slipped versus the euro.
Aussie Pares Losses on Outlook for Interest Rates Hike
October 20th, 2010 at 21:05
The Australian dollar pared its previous losses today as the traders used the low prices as the opportunity to buy the currency. The speculation that Australia’s central bank may raise the interest rates also helped the currency.
Ruble Drops with Crude Oil Prices
October 20th, 2010 at 14:06
The Russian ruble slid today after the prices for crude oil went down on outlook for slower global economic growth. The decline will test the commitment of Russia’s central bank to allow the exchange rates to float more freely.
