June 2013 | Archive | News | FX Trading

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June 2013 News Archive

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Dollar strengthens against yen and euro26 Jun at 9 AM

The US dollar has rallied against both the yen and the euro after earlier losses. The greenback has benefitted from economic data that supports the Federal Reserve’s decision to look at pulling in its policy of money printing as early as this year. The central bank has been buying bonds in an attempt to boost the economy but Fed chief...

Yen drops against US dollar19 Jun at 9 AM

The yen fell against the US dollar for the second session in a row as some investors expect the Federal Reserve to announce that it intends to bring its economy boosting policy of bond buying to an early close. The euro has also been helped to its highest level in nearly four months after investor and analyst sentiment in Germany rose in June...

US dollar recovers against the yen12 Jun at 9 AM

The US dollar has managed to regain some ground against the yen after tumbling to its lowest level against the Japanese currency in three years. The fall came after the Bank of Japan revealed it was not currently planning to introduce any new monetary stimulus measures. Having previously sunk as low as 95.60 the dollar clawed itself back...

Dollar recovers against the yen5 Jun at 9 AM

The US dollar has managed to recover after investors took advantage of a drop in value on Monday to buy back the greenback. A fall in the level of factory activity during May saw the dollar hit 98.86 yen, but it has since managed to crawl back over the 100 mark. The dollar was given further support against the yen following reports that the...

Euro jumps on EU deal30 Jun at 9 AM

The euro stayed on course for its highest one-day gain versus the dollar for eight months after eurozone leaders came to an agreement on measures to reduce borrowing costs for Spain and Italy and to stabilise banks, but the rally seemed likely to be short-lived. Leaders from the region agreed that rescue funds should be used to ensure bond...

Aussie dollar set for bearish breakdown28 Jun at 9 AM

The Australian dollar was the star performer against its US counterpart at the close of trade in Europe on Wednesday, moving up 0.09 per cent during the session. The aussie has remained well supported in spite of equity markets rallying with the US dollar outperforming all major currencies except the Australian dollar....

Euro falls for third successive day ahead of summit27 Jun at 6 PM

The euro dropped for the third day in a row versus the dollar today, after spiralling to a two-week low in the previous session, and analysts warned that more losses were expected before a European Union meeting that is unlikely to deliver any resolutions to the debt crisis in the region. It is not expected that common eurozone bonds will...

Euro drops to two-week low on EU summit doubts26 Jun at 6 PM

The euro dropped to its lowest point in over two weeks versus the dollar today as Spanish bond yields went up and hopes eased that a European meeting would bring any positive news in resolving the debt crisis in the region. However, further losses prior to the summit, which is being held over Thursday and Friday, may be limited as...

Euro down on fading EU summit expectations25 Jun at 6 PM

The euro sunk to its lowest mark in nearly two years versus the dollar today and appeared likely to extend losses as traders doubted this week’s European summit would come up with a solution to the bloc’s mounting debt crisis. There are low expectations for the EU summit after the four biggest economies in the region met on Friday and...

Dollar on offensive against riskier assets22 Jun at 9 AM

The dollar stayed close to a one-week high versus a basket of major currencies today, supported by the worlds’ major banks being downgraded by Moody’s while traders hold tight ahead of the European leaders’ meeting later on Friday. The greenback staged its biggest rally for over three months overnight after key business activity...

Dollar resilient following Fed stimulus21 Jun at 11 AM

The dollar stayed above a one-month low versus a basket of key currencies on Thursday having not been impacted by the Federal Reserve’s decision to launch further monetary stimulus in a bid to boost the flagging economy. According to traders, dollar bears were prevented from rampaging by the fact that the Fed did not begin a more...

EUR/USD awaits Greek government coalition under 1.270020 Jun at 4 PM

EUR/USD was last seen at 1.2675, climbing from session lows of 1.2661, falling fall the highs reached on Tuesday of 1.2731, jumping by 0.78 per cent from Asia-Pacific’s opening trading yesterday. The pair climbed yesterday on hopes that the new government coalition in Greece will emerge soon, as well as positive results from embattled...

Euro rises as investors look towards central banks19 Jun at 6 PM

The euro rose versus the dollar on Tuesday as the worsening debt crisis in Europe and its impact on worldwide growth encouraged the world’s central banks to talk about a policy response. US stock index futures edged higher too ahead of the Federal Reserve’s two-day policy meeting, which will focus on whether to unveil any further...

Euro hits one-month high on Greek election results18 Jun at 2 PM

The euro climbed to a one-month high versus the dollar on Monday after election projections from Greece showed parties committed to remaining in the common currency looked set to secure a narrow parliamentary majority. The euro jumped to $1.2747 in the day’s early trading, from Friday’s late New York trade of around $1.2655. Volumes...

Forex options reveals little trust in SNB euro floor15 Jun at 2 PM

Switzerland’s central bank revealed it wants to prevent the franc climbing too high versus the euro, but the options market shows doubts that its resolve will hold in the latest saga of the debt crisis in the eurozone. Risk reversals reveal that investors are increasing bets in the options market in the anticipation of a break of the...

Euro up on dollar for third consecutive day14 Jun at 4 PM

The euro climbed against the dollar for the third consecutive day today as investors continued to take large bearish positions in the lead-up to Sunday’s much-anticipated elections in Greece, but as borrowing costs in pain and Italy still at sky-high levels the single currency’s gains are said to be tenuous. While investors tried to...

Euro steady but vulnerable13 Jun at 6 PM

The euro was steady today, with bearish investors offloading at higher levels as worries increased that debt contagion would grip Italy and as unease surrounded the eurozone before this weekend’s Greek elections. Even yields on usually safe-haven German bunds went up in a clear indication that investors are feeling gloomier over the...

Euro volatile due to Greek elections12 Jun at 6 PM

The euro was volatile on Tuesday, with a large number of investors selling it at higher levels due to concerns over Spain’s financial bailout deal remained and as most prepared for further uncertainty following Greece’s elections this weekend. Traders said that purchasing by Middle East investors helped the common currency rise above...

Spain banks deal bolsters Asian and EU markets11 Jun at 6 PM

Following a deal to prop up Spain's struggling banks, which eased concerns over a euro break-up, the single currency gained in Asia, along with the stock markets. In Asia, the euro increased by 1 percent against the US dollar and Japan yen. Japan and Hong Kong stock indexes went up by 2 percent. On Saturday, EU ministers said they would...

Euro falls against dollar8 Jun at 12 PM

The euro lost ground on the dollar and yen today after a credit rating downgrade in Spain added to the reluctance of investors to take risks and increased concern that the debt crisis within the eurozone is intensifying. German and European Union sources said that Spain was likely to make a request this weekend for help to support its...

Aussie rallies following strong jobs data7 Jun at 12 PM

The euro held onto gains after a strong rally versus the dollar on Wednesday after the ECB decided against cutting interest rates and made no changes to the growth outlook. Rates remained at one per cent although the ECB said that it was ready to act if necessary but within its mandate’s scope. However, the bank refused to commit, saying...

Euro holds gains following ECB rates decision6 Jun at 6 PM

The euro held steady today after interest rates were left untouched by the European Central Bank, as predicted, with investors preparing for it to launch monetary stimulus to boost the embattled economy. With the single currency and the eurozone’s stock markets falling dramatically in recent weeks due to problems in the Spanish banking...

Euro climbs to one week high5 Jun at 6 PM

The euro climbed to a one-week high today as some traders pared back their massive bets against the currency before a Group of Seven financial policy makers’ conference call on the debt crisis within the region. Although market players are still sceptical of a breakthrough because a lack of consensus in Europe on matters such as how to...

Euro rallies on fresh optimism4 Jun at 6 PM

The euro rallied versus the US dollar and the Japanese yen on Monday as peripheral bond yields in the eurozone eased on renewed hope that European authorities will keep the region intact despite fears over global growth capped gains and Spain’s struggling banking sector. Bleak US jobs data at the end of last week added to worldwide risk...

Euro closes in on two year low1 Jun at 10 AM

The euro edged closer to a two-year low versus the dollar today and stayed near its lowest in over a decade against the Japanese yen on mounting uncertainty on hw Spain will cope with its ailing financial sector. Japan said the strength of its currency was speculator-driven and issued further warnings that may intervene to curb the yen’s...