Forex News

The Japanese yen had a negative performance this Tuesday versus most of the Asian and South Pacific key-currencies as evidences suggest that commodity producer countries in the region, as well as emerging markets, are likely to outperform the Japanese economy this year, affecting the yen as well.

The yen started this Thursday losing versus the main South Pacific currencies as reports in the region brought risk appetite high in foreign-exchange markets, after confidence that the economic pace will accelerate in Australia and the New Zealand.

The yen dropped started this Wednesday dropping versus most of the 16 main trading currencies as renewed risk appetite declined attractiveness for the Japanese currency, known for its safety profile that traders tend to abandon as market sentiment improves.

The Japanese currency was one of the biggest winners together with the U.S. dollar in trading markets this Thursday, as stocks fell globally, declining appeal for higher-yielding currencies as risk aversion rose, favoring the safety profile of the yen, considered the top refuge currency in days of pessimism.

The New Zealand dollar lost versus most of the 16 main traded currencies this Thursday as the quarterly unemployment rate in the country grew further, decreasing attractiveness for the kiwi, as growing unemployment figures are a sign of bad economic health.

The New Zealand dollar had a good performance today gaining versus the dollar and the yen after government officials did not relate a strong kiwi with eventual delays in interest rate hikes, adding speculations that the South Pacific country is on the way to raise its benchmark interest rates.

The New Zealand currency fell versus the U.S. dollar and the yen after speculations suggested that Japanese investors are repatriating capital invested abroad and Asian stocks had a rather bearish start of the week declining investors’ appetite for risk.

The New Zealand currency has been one of the best performers among the 16 main traded ones in foreign-exchange markets, since the global economic recovery brought risk appetite back among investors which are purchasing assets in the South Pacific region heavily.

The kiwi, how often the New Zealand currency is referred to, touched an eleven-month high versus the greenback and gained versus most of the 16 main traded currencies as international and domestic factors raised attractiveness for the high-yield profile of the South Pacific currency.

The New Zealand dollar started this week losing versus the greenback and the yen as higher-yielding currencies attractiveness declined while risk aversion grew among traders globally, shunning investors from assets in the South Pacific region.