Forex News

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 risk-aversion and that it’s still a good idea to buy currencies near their medium-term bottoms.

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 more-or-less positive news spurred the growth of the stock market up from its bottom.

The Japanese yen retreated from its 15-year maximum level against the US dollar and from the all-time high against the euro after the Japanese Finance Minister said that the appropriate action is needed in the Forex market.

The expectations for the worsening of the global economic situation in the developed nations fueled the risk-averting mood in the foreign exchange market, pushing the Japanese yen to the new yearly maximums today.

The euro slumped today after Axel Weber, the President of the Deutsche Bundesbank and Member of the Governing Council of the European Central Bank, suggested that the European Central Bank would be required to aid European Union’s struggling economy by the end of this year.

The Japanese yen rose today as the renewed concerns that the recovery of the global economy is losing the traction fueled the demand for the safer assets.

The Japanese yen dropped today as the rally of the global equities damped the demand for the safer currencies and on the anticipation of the intervention by the central bank.

The Japanese yen weakened today against the US dollar and the Great Britain pound and traded near the opening level versus the euro as the traders consider the possibility of the intervention by the Bank of Japan in order to curb the currency’s gains.

The Japanese yen slipped today against most other major currencies after the central bank’s official said that they would closely monitor the currency’s movement, leading to the speculations that the central bank would limit the yen’s gains.