The Australian dollar attempted to pare its losses today after Asian stocks rebounded, but this attempt wasn’t successful, meaning that the currency heads for a ninth straight session of losses.

The Japanese yen jumped against all other most-traded currencies today as traders fled to safety of the yen, fearing the financial problems of the US and Europe.

The downgrade of the US credit rating on August 5 hurt commodity currencies and the Australian dollar was among the ones hit hardest by the rating agency’s decision. The Australian currency extended its drop today.

The Swiss franc rallied against all most-traded currencies as downgrade of the US credit rating and concerns about the future of the European debt made investors unwilling move from the safety of the franc to riskier assets.

The Chinese yuan climbed today after China’s central bank lifted the reference rate, following the downgraded of the US credit rating, signaling that the policy makers aren’t bothered by the currency’s gains.

The US dollar extended today its decline versus the Japanese yen that started last Friday after Standard & Poor’s cut the US credit rating. The euro slipped against the dollar.

The Swiss franc is considered one of the most attractive currencies (if not the most attractive) nowadays as the strength of the franc makes it preferable as a safe haven. With all the financial turmoil in Europe and America the safety of the currency is in high demand among investors. But the Swiss National Bank announced last week that it’s going to take measures for taming the excessive appreciation of the Swiss currency. How this step will affect [...]

Following the Friday’s US credit rating downgrade by Standard & Poor’s the Forex traders are wondering how will the currencies react tomorrow and where will the dollar head during the next few weeks.

Despite today’s recovery against the US dollar, the Australian dollar continued its decline against the other currencies, following a release of the economic outlook by the country’s central bank.

The US currency returned to a bearish trend today, as the global stock markets led by the United States equities failed to stop falling today, extending the drop despite the positive employment data.