The Canadian dollar fell today as the macroeconomic data slashed the forecasts for Canada’s economic expansion and curbed the demand for the Canadian currency. This month can become the worst month for the loonie since May 2010.
The Great Britain pound rose against the euro at the start of today’s Forex trading session after the British Chambers of Commerce raised its forecast for Britain’s economic growth in this and the next years. The sterling fell later but currently is rising again. Britain’s currency fell versus the US dollar and the Japanese yen.
The speculation that Japan’s policy makers wouldn’t be able to limit the yen’s gains pushed the New Zealand dollar down against the Japanese currency; the kiwi (as the NZD nicknamed) also fell against the US dollar as New Zealand trade balance posted the deficit for the first time in seven months.
The Japanese yen rose today as the traders don’t believe that the intervention by the Bank of Japan would be able to keep Japan’s currency from rising further.
The US dollar posted a mixed week against the other currencies on Forex, as the investors didn’t seem to be certain of which direction to choose on worsening of the economic situation and intervention threats from Japan.
The euro increased against all of its major rivals today, as the US GDP report signaled that the market participants dug themselves to deep into the pessimism of the
The Japanese yen gave up some of its recently conquered positions against the other major currencies as the investors continued to hold their bets on the monetary intervention in Japan.
The euro continued its recovery trend against the dollar and the yen today as some
Both Australian and New Zealand currencies benefited from the speculations that the Japanese authorities will have to use currency intervention to hold down the yen’s growth.
The Japanese yen retreated from its 15-year maximum level against the US dollar and from the
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