Indian rupee ended the start of the week with falling to 39.41 against the U.S. dollar making it the first rupee’s bearish close after two days of growth. The rupee sellout was caused by the …
Intervention Rumor Devalue Rupee
Category: News
Australian Dollar Rises on Global Economy Optimism
Aussie was on a rising edge today on the better investors sentiments, spurred by the recent stock markets growth. Australian dollar gained against both dollar and Japanese yen — its main carry trade counterparts. Going through the upper average range of the previous week for AUD/USD was …
Chinese Yuan Rushed by Henry Paulson
U.S. Treasury Secretary Henry Paulson is going to visit China again in order to motivate the government to increase the pace of the change in which yuan would appreciate against U.S. dollar and other world …
South Africa Lowers Foreign Purchases
South African Reserve Bank decreased its foreign currency purchases volume almost by a half after the national currency felt significantly against the U.S. dollar in November. Depreciated rand kept country’s central bank from increasing their Forex reserves at the previous pace. On November …
Australian Dollar Gained on Lower Risks
Australian dollar gained against other currencies — about 1% against U.S. dollar and more than 1.1% against Japanese yen, yesterday after U.S. President George W. Bush stated that government will act to prevent the further damage from the mortgage financing …
ECB Holds Rate, Trichet Predicts Hike
European Central Bank published its scheduled Monetary policy decisions today, leaving the main refinancing operations interest rate at 4.00%. Jean-Claude Trichet, Central Bank President, commented this decision saying that ECB is ready to fight the pressure of the rising inflation. EUR/USD …
Bank of England Cut Rate by 0.25
The Bank of Englandâs Monetary Policy Committee today decided to reduce the official interest rate paid on commercial bank reserves by 0.25% from 5.75% to 5.5%. The decision was driven mainly by the slowdown in the economical output and moderating consumers’ spendings. Other problems noted by the Committee, which are …
New Zealand Dollar Rises on Unchanged Rate
New Zealand dollar rose against all other major currencies after the Reserve Bank of New Zealand left the Official Cash Rate (OCR) — short-term lending interest rate — unchanged at 8.25%. And as it was hinted by Bank Governor Alan Bollard the rate is not …
Great Britain Pound Falls on Rate Cut Expectation
Great Britain pound reached its two month minimum value against U.S. dollar today under the pressure of an interest rate cut during tomorrow Bank of England rates decision. GBP/USD touched 2.0353 level — the lowest since October 23. Chartered Institute of Purchasing …
Bank of Canada Cuts Overnight Rate
Bank of Canada lowered overnight interest rate by 0.25% to 4.25% today during its scheduled meeting; this interest rate will be used until at least the next such meeting which will be held on January 22, 2008. Bank of Canada announced that …