News Update for Currency Pairs

Hot and tasty yen melts down down

The American dollar dropped down today with risk appetite dropping down following big moves at the beginning of this week. This was following announcement coming from the Bank of Canada which showed that Canada was ready to still hold its interest rates steady.

Thus today, the dollar dropped down against the euro. Also the American dollar went down against the Swiss franc. The yen had a nice rise today after it had suffered its worst two day decline in about two years.

Thus today the dollar had declined to 104.33 yen falling down by over 0.48%. Earlier on today, the yen had dropped down to lows of 103.95 yen after Chief Cabinet Secretary Yoshihide Suga had announced that Japan was not thinking about "helicopter money," (which is a policy where government directly releases money to citizens so as to boost the economy).

Thus today against the Swiss franc, the dollar had dropped down by 0.60% dropping down to 0.98 franc. The euro on the other hand had risen up against the dollar to $1.11 climbing ip by 0.4%.

 

Handsome US inflation data makes the ground more slippery for a sliding Sterling

Sterling dropped this Friday from a high of two-weeks against the dollar. This is as released US retail sales was really impressive. Also from England, the Bank of England's chief economist Andrew Haldane had announced Britain was in need of "muscular" stimulus so as so put more life into the economy.

Through his first speech since the referendum vote by June 23, the chief economist Andrew Haldane revealed the central bank is required to roll out a "package of mutually-complementary monetary policy easing measures" in appropriate time for a rate-setting meeting which is to convene next month by Aug. 4.

Thus today, the pound suffered a decline losing almost a cent following the speech from the Bank of England's Andrew Haldane. Consequently in course of the day, the pound fell further in face of U.S. retail sales which increased beyond expectations for the month of June. This confirmed more that the U.S. economic growth was yet positive for the second quarter.

For this week, though, sterling could be set to be in line for its most remarkable performance in over four months, having risen so far against the American dollar by 2%. This was as the Bank of England surprisingly kicked against increasing interest rates.

 

Handsome dollar wooing traders back

The dollar made gains against the Japanese yen today. This gain brought the dollar back up to its three-week highs against the yen. This is as investors were no longer running after safe haven assets as the attempted military coup in Turkey turned out a failure.

Turkey had ransacked its police force on Monday; this was after it rounded up thousands of soldiers following the coup attempt over the weekend which eventually recorded no success. The Turkish government is trying to restore calm back to the country assuring that it was still in control of the economy and the country at large. This thus eased pressure on the euro as it removed fears among investors of another shock from Europe after the unexpected results of the June 23 referendum. Thus the restored calm saw investors going after riskier assets other than the yen.

The pound had increased by about 8% against the Japanese yen over the span of the last 8 days with the dollar climbing up from its lows by almost 5%.

Thus today, we saw the dollar moving up by 0.7% against the yen bringing the dollar to 105.56 yen.

 

Bank of Japan injects some pints of bold into the yen

The American dollar had fallen today. This would mark a decline from its six-week high against the Japanese yen this Thursday. This was following statements coming from Haruhiko Kuroda, who is the Bank of Japan chief. Haruhiko Kuroda had expressed his opinion that the Bank of Japan was yet to recognize any need to prompt the bank into introducing stimulus measures for the Japanese economy especially with "helicopter money."

After a decline of about a percent against the yen, the American dollar made little pull back attempting to recover from its earlier losses.

For some time now in the market, investors have been heavily expecting some stimulus measures from Japan especially after Prime Minister Shinzo Abe won the parliamentary elections. As such there was quite a disappointment when Kuroda betrayed their hopes that the bank of Japan would be holding against injecting cash straight to consumer and businesses and consumers at the moment. This brought the yen up, pushing it as high as 105.41 yen for one dollar.

 

Dollar tightens its seat-belt for a descent flight up

The dollar still remained close to its latest highs to which it had climbed against the Japanese yen as well as the euro. Traders are heavily anticipating the next meeting of the of U.S. Federal Reserve as well the Bank of Japan on the much expected stimulus package. It is expected that both decisions from the two central banks would favour the dollar.

There is a stronger possibility that the Federal Reserve would consider interest rate hikes as latest data from the US on jobs and housing have been pretty impressive

Despite claims from the Bank of Japan that it will not roll out stimulus packages, traders are still very much expectant that the Bank of Japan would release the "helicopter money" (money directly released by government to individuals and corporate bodies to boost the Japanese economy. The meetings from both banks are expected to injure the Japanese yen causing it to get weaker. But for now the dollar dropped down a bit to 105.97 yen.

 

Sterling falls today as we await interest rates decision of Bank of England

Sterling had dropped down to a two-week low today. This decline comes as the Bank of England policymaker had announced that a batch of discouraging UK data would be "very material" for the upcoming meeting of the bank. Earlier in last week, the senior bank officers had demanded for clearer proofs of economic weakness before the bank embarks on an interest rate cut.

Sterling had dropped down as low as $1.3057 this morning. This happens to be its least point since July 12. This dropped the sterling down by 0.3% today but the sterling is still 3 cents above a 31-year low which it had actually fallen to in June. This was prior to when it became certain who the prime minister of Britain will turn out to be.

Thus, Sterling had fallen by about 12% against the American dollar since Britons made the decision via a referendum vote to exit the European Union in June. Against the euro, the sterling had equally fallen by 0.1%, dropping down to 84 pence.

 

Dollar recovering from its last week’s ailment

The dollar had bounced back positively, recovering from its worst performance in a week which the dollar had actually suffered last week. This was as the dollar recorded gains against the Japanese yen. The yen had declined; falling from its high of three weeks after the (BOJ)Bank of Japan eased policy at a rate lesser than we had expected.

Last week, the dollar had fallen down by2% against its major pairs. The decline last week was as a result of the Federal Reserve failing to give traders a clue as to if it would be raising interest rates soonest. This was as data coming from the US last week ending, on growth was not impressive.

New York Fed President William Dudley had revealed to a central bankers' conference in Bali today that there is still the possibility that the Federal Reserve may still increase rates before the November U.S. election. This he said could occur if the economy as well as labor market improve at a fast pace.

 

Feverish dollar yet to turn around its losses

The American dollar had fallen down today to lows of six-week low today against its major rival currencies. The decline in the dollar comes today as concerns grow among investors that the Federal Reserve would still postpone any increase in its interest rates following the recent release of US economic data which was not too bright.


The U.S. dollar thus today fell to a three-week lows against the Japanese yen. The government of Japan of late had given its approval to a set of stimulus measures which were actually well expected among investors. Against the euro, the dollar collapsed to its least point in six weeks.


The American dollar failed to turn around its losses following U.S. data showing little inflation. A major indicator of inflation which is the core personal consumption expenditure index – had grown by 0.1% for the month of June, this doesn’t change the annual inflation rate as it remains at 0.9%.

 

Dollar looking good after being polished by positive US data

The dollar made gains today. This is a result of data published today revealing that U.S. employment had gone up. This beats expectations for the month of July with wages rising up. The positive US data raises the possibility that Federal Reserve could announce interest rate hike this year.
The dollar rose up to one-week peaks against the euro and the Swiss franc, turning around its losses to record gains against the yen following the release of the jobs data.

Today the data showed that U.S. non-farm payrolls had climbed by 255,000 jobs for the month of July. Analysts were expecting it to rise by 180,000 in July.

Against the yen, the American dollar went up by 0.54 percent moving to 101.76 yen, while the dollar struck a one-week high against the Swiss franc. The euro, on the other had declined to one-week low against the dollar as it had fallen down by 0.33% which is a fall of $1.11.

 

US dollar looking smart again

The U.S. dollar had recorded gains against many currencies today. The gains come following published jobs reports which came out better than expectations for July on Friday. This again brought up hopes that the Federal Reserve could still raise interest rates in the future.

Nonfarm payrolls went up by 255,000 jobs for last month. The increase beats what Reuters had forecasted. Forecasts from Reuters were at 180,000 for the month. Wages also went up.The impressive data had assisted in relieving investors of worries concerning those weak economic indicators, which includes preliminary estimates of sluggish gross domestic product for the second quarter. This was published at the ending of July.

The dollar index, which measures how well the dollar is doing against its major six rival had gone up by 0.21%; rising up to 96.293. The dollar had made gains against the yen, moving up by 0.62% to 102.44 yen.

 

American dollar head-butting the British pound

The British pound had dropped again today. The decline today makes it the fifth consecutive day the pound is falling following a move by the Bank of England policymakers to roll in more easing measures should the economic situation in the United Kingdom declines for the worse.

Last week, we had the Bank of England cutting down interest rates drastically; releasing billions of pounds as part of its stimulus program so as to reduce the negative effect of the surprising referendum vote by British voters to exit the European Union. Today pound has fallen by 0.26%, dropping down to $1.30. Before this, the pound had fallen as low as $1.2902 - this marks its lowest point since July 11. Investors are looking forward to retail sales report for last month that will be published by the end of this week.

A speech to be given by Janet Yellen who is the U.S Federal Reserve Chair at the event of the bank's symposium holding in Jackson Hole, Wyoming, by the ending of this month precisely 26 is one critical indication for any possible interest rate hike.

 

Leaking US dollar drops its gains

The U.S. dollar dropped today as a report of U.S. Treasury yields drop came. Investors in the market heavily anticipate a speech by U.S. Federal Reserve Chair Janet Yellen which she will be giving later this month.

Earlier on, the dollar had recorded gains following Friday's jobs report for July which revealed that the data beat expectations and calculations coming from analysts. As of now, it has lost these gains.

In face of the positive data coming from the US, investors are largely positive that the Federal Reserve most particularly Janet Yellen, the Federal Reserve chair would see the data as encouraging enough to raise interest rates soonest. She will be giving her much awaited speech at the symposium of the central bank on Aug. 26 holding in Jackson Hole, Wyoming,

The dollar index on the other hand which gives us a calculation of how well the dollar is performing had dropped by 0.56% falling down to 95.63, after it had drastically dropped down to its least point last week Thursday. The dollar has equally dropped 0.62% against the Japanese yen falling down to 101.30 yen. The dollar as well went lower against the euro falling down to $1.1165.

 

Ailing Dollar finishes the week on a sick bed


The American dollar got weaker as the week ended today. The American dollar actually got weaker after data U.S. retail sales were surprisingly flat. This is actually contrary to what was expected. Also producer prices had dropped down also shockingly for the month of July. This brought worries among investors about how well the US economy was growing for the third-quarter economic growth.

Economists had predicted that overall retail sales would go up by 0.4%. On the other hand, the decline in producer prices will be the first drop we are seeing since March; also it is biggest since September last year.

Last week the dollar pushed up, following data showing that employers added a number of jobs beating expectations for last month. This had brought up hopes last week that the Fed will be convinced to push up interest rates soonest.

But then a rate hike this August is not very likely, not even next month but we critically await the next meeting of the Fed.

 

Poor US Data squeezes the dollar

The dollar dropped against a lot of currencies today. This push down in the dollar comes after the latest mild U.S. economic data which had brought down the hopes that the Federal Reserve would still be raising interest rates this year. U.S. Treasury yields had fallen down p on Friday, with the 10-year yield sliding down by 5 basis points to fall down to a two-week low of 1.48%.

Despite the regular disappointment from the Federal Reserve, investors are still expecting a minimum of one interest rate hike this 2016. This is why data coming the US have to be very positive.


The dollar also has suffered a decline against the Japanese yen. Of late, Japan had introduced stimulus measures, rolling out billions of dollars very recently to booster the economy.

The U.S. dollar went down 0.09% lower, bringing it lower at 101.21 yen. This is after it had lost 0.6% last week on Friday. This is following U.S. retail sales and producer prices which had been more disappointing than many investors had been expecting.

Thus the euro went up against the dollar by 0.16%; rising up to $1.1182. By last week Friday, it was up by 0.2% on Friday.

 

Mourning US Dollar getting smart again

Earlier on today, the American dollar had crashed to its least points in almost two months against the yen, euro, as well as the Swiss franc. The slide in the dollar comes a day following comments from a senior Federal Reserve official which hinted towards delayed interest rates hike this year.

This majorly contributed to the fall of the dollar as John Williams who is the San Francisco Fed President yesterday afternoon said the Fed should think about setting higher inflation goals. What we have now is the Federal Reserve targeting 2% inflation.

Later on today, the dollar made significant recovery, reversing its losses after comments from the head of the New York Fed had again brought up hopes for a hike this 2016.


The euro rose more than one percent against the dollar to $1.1322. But then the dollar dropped down by over 1.5% against the yen; moving down to 99.56 yen while falling down by over more than 1% against the Swiss franc which brings the dollar down to 0.9589 franc.

 

Crashing American dollar mopping the ground

The U.S. dollar had crashed down to a session low against the Japanese yen. Also the US Dollar suffered losses against the euro as the euro had leapt up to a session high against the USD. The upcoming Federal Reserve’s meeting minutes is very crucial as investors are looking heavily up to it.

Most particularly, investors are paying special attention to the remarks of San Francisco Fed President John Williams which he made on Monday. These comments had suggested delayed interest rates hike. This is contrary to the expectations of the New York Fed President who remains positive of possible rate hike before this 2016 ends.

Thus today the euro had gone up against the American dollar by 0.18%. This percentage increase slightly brings the euro up against the dollar to $1.1297. This new price is not too distant from the high it had gotten to Tuesday of $1.1322. Against the yen, the American dollar had also gone down by 0.18%; crashing down to 100.14 yen. This is after it had hit a low on Tuesday of 99.53 yen.

 

Disappointing minutes of meeting of Federal Reserve punches the dollar fatally

The U.S. dollar was hovering around its least point in almost two months against the euro and Swiss franc in nearly eight weeks today. This is a day after there was a release of the minutes from the Federal Reserve's July meeting. The minutes of the meeting showed that Federal Reserve policymakers were kind of opposed to raising interest rates soon.

The bias of the Federal Open Market Committee against interest rates hike could be traced to how positive they were of the U.S. economic outlook. A number of Fed policymakers, however said a decline in the future rate of hiring would encourage a near-term hike, with some members of the FOMC members saying they intend to "leave their policy options open."

These minutes of meeting were certainly disappointing given that expectations were high that the Fed could be turning more interested in raising interest rates soonest. Majority of the traders hoping for interest rates hike was due to comments from New York Fed chief William Dudley on Tuesday, who expressed his anticipations that the central bank could increase rates as soon as next month possibly.

 

Yawning US dollar waking up from its sleep

The U.S. dollar started its recovery from almost eight-week lows against the euro as well as the Swiss franc today. This is happening a day following comments from a senior Federal Reserve official who joins the increasing group pushing for U.S. interest rate hike in the nearest months to come.


John Williams who occupies the position of San Francisco Fed President had yesterday expressed his opinion that, if the U.S. central bank delayed too long in raising rates, it could be result in dangerous effects for the US economy suggesting that the Fed should aim for possible rate hike in next month.


Those comments in addition to statements from William Dudley who is the New York Fed President as well as Atlanta Fed President Dennis Lockhart in previous days are seen as supporting rate hikes These comments encouraging the Federal Reserve to push up interest rates come after San Francisco Fed chief published an essay this week loudly voicing his opinion for the Federal Reserve to reassess its long term goals.

 

Senior Fed official’s comment pushes US Dollar rising up

The U.S. dollar moved up a bit today against other major currencies. This slight increase comes a day after a senior Federal Reserve official aired his opinion which many investors have seen as supporting interest rate hike. This came we await the speech of Janet Yellen, Federal Reserve chair on Friday.

A senior Fed official precisely the Fed Vice Chairman Stanley Fischer had commented on Sunday that he is of the opinion that the central bank was approaching the realization of its inflation and employment targets.

While the Fed's second in command policymaker did not particularly refer to the timing of the next U.S. central bank interest rate hike, these comments are largely seen as yet in favour of a near term hike.

Thus today the American dollar slightly went up by 0.07% against the yen climbing to 100.30 yen.

 

US Dollar slides down slightly as Investors await Fed Chair Speech

The dollar went down today as investors turned their attention to comments on U.S. interest rates by Federal Reserve officials which in a way were in support of interest rates hike. Most importantly a significant speech will be coming from Janet Yellen who is the Fed Chair on Friday which is crucial to the timing of the next interest rate hike.

Over the weekend precisely on Sunday, the remarks of Fed Vice Chairman Stanley Fischer boosted the US dollar. The Vice Chairman said the U.S. central bank was well in line to achieve its inflation and employment targets. This had sprung up hopes that we could be having a rate hike possibly next month.

Yellen who is the Fed Chair will give a speech on the annual meeting of world central bankers in Jackson Hole, Wyoming. This will be happening on Friday.

This speech is heavily anticipated by investors whether she will further support the hawkish views already put forward by Fischer as well as the New York Fed President William Dudley. Although it is likely she will be in support of further delayed interest rates hike as gathered from the Fed's July policy meeting. The July meeting specifically showed that the Federal Reserve was in no rush bank was to raise interest rates.