The U.S. dollar climbed today after a Chinese Foreign Ministry official stated that the believes in the stability of the greenback, and informed that he is unaware of discussions next week during the G8 meeting regarding eventual substitutes for the dollar as the world main reserve currency.
The Australian dollar, often referred as the Aussie, fell for the first time in 5 days against the U.S. dollar and other currencies after China’s comments indicating that the greenback will continue to be the main world reserve currency, damping demand for the Australian dollar high-yielding profile.
The dollar started this week’s session rallying against several main currencies after China stated that it may continue to be used as a main reserve currency, and that the Asian nation won’t change its foreign currency reserves suddenly.
The Dollar ended the week losing against several major currencies after China declared this Friday that a supranational currency should be created for regulating international trade, damping demand for the greenback, which is currently the world main reserve currency.
The U.S. dollar had a weak performance today losing against most of the major traded currencies, as stocks rose for a third day, mainly in Asia, damping demand for the greenback.
The U.S. dollar had a day of weak performance losing ground to currencies like the euro and the Australian dollar as speculations that a report to be released this Wednesday will indicate a decrease in durable goods orders, affecting the greenback outlook negatively.
The dollar posted slight losses against currencies like the Singaporean dollar and the yen after speculations that the Fed will not increase its interest rates this year eased the optimist outlook for the North American currency this Wednesday.
The greenback dropped this Thursday as increasing speculations of a world economic recovery increased risk appetite among traders, inducing the purchase of high-yield currencies.
The dollar gained versus the main currencies as speculations that the U. S. Government will raise its interest rates by the end of the year, consequently causing a bearish day in equities markets around the world.
The greenback had the highest rally since April against the euro, pound after a U.S. employment report indicated that fewer jobs were cut than forecasts predicted, fueling investors with optimism towards the North American economy.
| Don't show me this offer | × |