Forex News

The US dollar fell today against the euro and the Japanese yen as the Chicago Business Barometer fell more than estimated and on the signs that the Federal Reserve won’t raise the interest rates. The Fed also failed to provide the clear plan to add more stimulus to support the US economy.

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

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 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 US dollar weakened today against most other major currencies after the unemployment claims unexpectedly surged and other reports signaled that the economic recovery in the US is slowing.

The US dollar performed rather well against other major currencies this week, despite the concern for the US economy. In fact, actually the concern for the economic growth was one of the reasons the other currencies fell versus the greenback.

The euro halted today it four-day losing streak against the US dollar after Germany’s economy grew with faster pace than anticipated, suggesting the Eurozone economy is more stable that was thought.

The US dollar surged today versus the Great Britain pound and the euro as the signs of the global economy’s slowdown spurred the investors to look for the safer currencies. The yen outperformed the greenback as the concerns for the US economy made the Japanese currency more appealing as the safe currency.

The US dollar fell versus the Japanese yen and also declined against the Great Britain pound and the euro, remaining above the opening level though, after the Federal Reserve decided to keep the interest rates at the record low level.