Exchange Rate News - FX Trading

Sat 23 Sep 2017
FX Trading

Exchange Rate News

Latest 10 news items tagged Exchange Rate

Yen devaluation not meant to hit exchange rates13 Feb at 12 PM 2013

As Japan continues to implement policies to weaken the yen the G7 group has announced that it will not be targeting lower exchange rates. Finance ministers said exchange rates should not be manipulated and should be governed by market forces. A statement has been released in which central bank governors and ministers said they agreed that disorderly movements and excessive volatility in terms of exchange rates could damage financial and economic stability. Although Japan has said its effort to reflate the economy has the support of...

Latin American currencies decline on Greece news16 May at 6 PM 2012

Latin American currencies weakened during Tuesday’s trading with Brazil’s real ending the day at an almost three-year low, triggering speculation the region’s biggest economy’s bank could soon intervene, reports Reuters. Concerns that Greece’s expected new elections would strengthen domestic opposition for an international bailout and increase the possibility that the Mediterranean nation could exit the euro impacted global markets and drove Brazil’s currency down to its lowest level since July 2009. The real lost 0.55...

Burma to float kyat to attract investment29 Mar at 6 PM 2012

Burma claims it will begin a managed float of its currency on 1 April to entice foreign investors. The Central Bank of Myanmar (Burma) said the money, the kyat, will be determined by supply and demand from now on, reports the BBC. The measure is aimed at amalgamating the country's different exchange rates. Burma has been instigating reforms since a civilian administration, albeit one controlled by former generals, replaced the military last year. The current authorized exchange rate puts one US dollar at 6.41 kyat. However,...

China will allow the yuan to float more freely15 Mar at 6 PM 2012

China will allow the yuan to float with less restrictions to reform currency policy. The move follows pressure on China from its trading partners to allow the yuan to appreciate, who have accused Beijing of keeping the value of the yuan artificially low to aid its exporters, reports the BBC. Premier Wen Jiabao revealed that Beijing will push for change, but added that the value of the yuan may already be near to an optimum level. He said he will speed up exchange rate reforms, particularly increasing two-way fluctuations. He added...

Euro moves from two week low6 Mar at 6 PM 2012

The euro moved from a two-week low as traders taking profit in the dollar balanced data that highlighted the departing paths of the European and US economies. However fears over the progress of Greece in implementing the debt-restructuring deal are expected to preserve pressure on the single currency this week. Chinese Premier Wen Jiabao's decrease in his country's target for annual growth to 7.5 per cent, the lowest in eight years, also emphasized worries about the global economy. Currency in Australia and New Zealand, which...

FOREX-G3 currencies subdued in US jobs test lead up3 Feb at 3 PM 2012

Major global currencies have been subdued as investors backed off in the lead-up to a US job report which could reinforce the risk sentiment seen recently, or unravel it, reports Reuters. Markets were also concerned of a potential official intervention to weaken the Swiss franc and the yen, after Swiss and Japanese authorities indicated that they were not satisfied with the strength of their currencies. The US dollar bought 76.18 yen, after having fallen from 78.28 on 25 January. It was not far from the record low set on 31 October...

Aussie dollar hits high against pound19 Jan at 4 PM 2012

The Sydney Morning Herald has reported how Australian travellers and UK expats must be cheering, in the wake of the AUD hitting its highest rate in 27 years against the pound. The AUD rose to 67.96 pence last night, which is its highest recorded level since 1985, before hovering around that mark today. In the last three years, the dollar to pound exchange rate has nearly doubled – which is a major bonus for any Australians flying to England with savings. It goes without saying that the Australians heading to the UK capital London...

Euro struggles on Asian markets 17 Jan at 2 PM 2012

The euro had trouble maintaining the headway it had made in Asian markets today. The common currency had fared well in short-covering, but anxiety over Greek debt crisis meetings and the upcoming auction of Portuguese bonds caused traders to exercise caution. The euro settled at $US1.2775, a climb of 0.2 per cent, which was short of the session peak of $US1.2787, but way above the $US1.2624 it dropped to on Friday. The nadir last week was the lowest euro-dollar exchange rate in 17 months. Portugal is offering treasury bills...

US Dollar hits new highs14 Jan at 2 PM 2012

The US dollar climbed yesterday following France’s confirmation that its triple A credit rating was about to be downgraded. France's Finance Minister corroborated the rumour that Standard & Poor was going to cut back the country’s credit risk level. The euro spent most of the day in steady decline against the dollar as rumours abounded that the esteemed US credit ratings agency was about to cut France’s, and also other European nations’, credit worthiness. The euro bottomed out a rate of $US 1.2677, a fall of 1.07 per...