News Update for Currency Pairs

US Dollar falls against euro but climbs against yen

The dollar declined today to its least level in a week against the euro. The dollar meanwhile went up against the yen today. The increase in the dollar against the yen comes as hopes are bouncing back that the Federal Reserve could still increase interest rates this 2016.

Although many traders would have preferred the Federal Reserve to introduce interest rates hike this September, the prospects of the Janet Yellen (Fed Chair) announcing interest rates before this year end is still encouraging to traders.

So far data coming from the US have been encouraging showing the US labour market and the economy was growing well. The Bank of Japan on the other hand is expected to bring on stimulus programs to boost the Japanese economy with the bank trying hard to devalue the yen.

So far there were three votes for an increase in interest rates from the Federal Reserve's policymaking committee with the American dollar making its way up against yen such that the dollar had risen up to 100.74 yen.

 

Dollar goes up after comments by Fed's ngren; yet the US Dollar is set for weekly loss

The dollar index moved up today. The rise in the dollar index comes following comments from Eric ngren who is the Boston Federal Reserve President expressing his beliefs that the U.S. short-term interest rates should be raised soonest warning that a fall in the jobless rate such that it goes under sustainable levels has the chances of hurting the growing US economy.

ngren happens to be one of three members of the Federal Open Market Committee who show their opposing opinion at this week's policy meeting which brought about the decision to leave rates unchanged.

ngren's opinion was shared by Kansas City Fed President, the person of Esther George as well as Cleveland Fed President Loretta Mester. All three fed officials in the recent Federal Reserve meeting have urged for interest rates hike in the near term.

Thus today the British pound had risen back increasing over $1.31. The increase comes as Bank of England policymaker Kristen Forbes aired her view that she is yet to be convinced of the need for another cut in interest rates, after the Bank had previously cut them to a very low point of 0.25% by August.

 

Dollar drops down on comments from BOJ's Kuroda with US debate outcome uncertain

The dollar suffered a decline against the Japanese today. The dollar fell down following comments from a senior official of the Bank of Japan (BOJ). These comments showed that the central bank failed at weakening the yen, with the U.S. presidential debate soon to come. The U.S. presidential debate made the fate of dollar quite uncertain.

Haruhiko Kuroda who is the BOJ Governor had commented that the Japanese central bank was very willing to deploy any means as to policy to realize its inflation target of 2%. The comments had reduced fears that the Japanese central bank was thinking about reducing asset purchases. This comes as the US Federal Reserve are looking reluctant in introducing hikes in interest rates.

Thus today the American dollar had fallen by over 0.72% against the Japanese yen dropping down to 100.26 yen after it had fallen to100.34 yen which is session low.

 

Dollar makes gains against euro on worries over Deutsche Bank

The U.S dollar had gone up against the euro today. The increase in the US dollar follows worries over Deutsche Bank which has mounted doubts over how well the general Europe's banking sector was doing.

Deutsche Bank shares had fallen down noticeably to a record low today. After this, the shares went flat a day after Germany's biggest lender declared there was no essence of German government assisting with a $14 billion U.S. demand to calm down accusations that it wrongly sold mortgage-backed securities.

The euro went down by 0.51% falling down to $1.1196, thus dropping down from the 11-day high of $1.1278 it has risen to yesterday. Pertaining to the US presidential elections, Democratic presidential candidate Hillary Clinton's was generally seen to have beaten Republican candidate Donald Trump.

The Mexican currency before now had dropped down to a record low of 19.92 pesos yesterday against the US dollar. The decline had come as a result of fears that a Trump victory would not be in the very best interest of Mexico's exports to the US.

 

US dollar moves higher as traders look for Fed hints

The dollar moved up a bit against the Japanese yen as well as climbing up against the euro today. But these were not big gains as traders chose to wait on U.S. economic data for hints on whether the Federal Reserve will still increase interest rates this 2016. The losses the euro suffered yesterday were moderated as fears over the health of the European banking system came down.

Fed Chair Chair, the person of Janet Yellen did not give any remarks on how well the US economy was doing or what is the next monetary policy the Federal Reserve would be taking.

Analysts had estimated in course of traders waiting on comments from Cleveland Fed President Loretta Mester and Kansas City Fed President Esther George and , they were yet putting more hope in the data to come next week most especially the U.S. September non-farm payrolls report.

Thus today the euro fell went down by 0.2% against the dollar dropping down to $1.1189.

 

Dollar rises against the yen following OPEC deal

The U.S. dollar today jumped up to an eight-day high against the Japanese yen today. The increase of the dollar today comes after investors were losing interest in the safe-haven currency twenty four hours after OPEC had come to agreement to reduce oil output. Fears over how healthy the European banking sector was were dropping down too today.

OPEC had reached a deal yesterday to introduce cuts in output. This deal is actually the first of its kind since 2008, with Saudi Arabia the OPEC group's leader avoiding clashes with its major rival, Iran in face of increasing pressure from crashing oil prices.

The dollar had today risen to 101.84 yen which is an eight-day high.

The reality is the OPEC deal had contributed greatly to raising currencies of oil exporters yesterday. Some of the currencies that sprang up included the Canadian dollar and the Norwegian crown. Other currencies that didn’t really react today to the deal as traders didn’t completely believe in the countries keeping fully to the OPEC deal they reached in their meeting yesterday.

 

Sterling struggling in most disappointing run of quarterly losses since far back 1984

Sterling failed to climb above $1.30 today. Staying below $1.30 sets the sterling for a straight quarter of losses. This unimpressive run records as the sterling's worst run as far back 1984.

The pound famously dived down to a 31-year low following the Britain referendum vote to exit the European Union. This brought it as low as $1.28 early in the third quarter with the sterling going lower as investors feared the effect of the unexpected vote to pull out from the EU.

Just a month ago, the Bank of England had decided to reduce its key interest rate to another record low and then went on to relaunch an asset-purchase programme in big push to lessen the sad effects of Brexit.

Earlier on today, data that was published revealed that British consumer morale had jumped up recovering back to the levels it was before the UK referendum vote. The data result was contrary to forecasts that the decision to exit the European Union could cause great damage to the readiness of Britons to spend.

Sterling went down today by 0.1%; falling below to $1.2950. This almost sets it on for its 3% quarterly loss.

 

Sterling drops down to 31-year low as dollar springs towards 2-week high

The sterling fell down today noticeably. The decline brings the sterling to its least point against the American dollar in over three decades. Reasons for this decline can be traced to worries of investors over the consequences that will follow the pull out of Britain from the European Union. The American dollar on the other hand rose up today after being boosted by encouraging macroeconomic data as well as increasing hopes that the US Federal Reserve would eventually introduce interest rates hike by December.

The pound thus dropped down today by 1.8% following British Prime Minister Theresa May announcing last week ending, that the official process to pull Britain out of the EU would commence no later than the end of March next year. A lot of investors in the market are really worried about the position of British Prime Minister Theresa May on the pull out which looks like it will not be a smooth exit from the EU.

The sterling had dropped down by 0.7% falling down to 1.2752. Previously it had fallen under $1.2735 today. This point happens to be the least it has dropped against the dollar since June 1985.

 

Sterling on path of recovery with impressive U.S. data

The dollar did not even respond greatly against its major rival currencies today after encouraging data from the U.S. on the American services sector. This data beats expectation as analysts were expecting weaker data on private job growth. On the other hand, the euro rose up notably following an increase in euro zone bond yields.

U.S. services industries had grown at its best rate last month. This pace of growth from the U.S. services industries happens to be the best it has gone in over ten months. This impressive data confirmed the hopes of traders that positive economic growth from the US would convince the US Federal Reserve to announce hikes in interest rates by December this year.

The data coming from the US services sector published by the Institute for Supply Management comes after comments from regional Fed presidents Jeffrey Lacker and the person of Loretta Mester which many have seen as supporting interest rates hike.

Sterling had gone up by 0.2% climbing up to $1.2755. The increase comes after the sterling had earlier fallen under $1.27. That was actually the first time it had gotten that low in over thirty years.

 

Sterling drops against the dollar as investors watch how Britain would leave the EU

The dollar went up against its major rival today. The point it rose to today is clearly the highest it has reached in about eight weeks. The significant rise comes as impressive data on U.S. jobs strengthened the hopes of investors that the Federal Reserve would still introduce interest rates hike by December.

On the other side, the Sterling slipped further down to a fresh 31-year low against the dollar owing to growing fears of the consequences of the exit of Britain from the EU. Contrary to what analysts had forecast first-time filings for U.S. jobless benefits had dropped close to a 43-year low. This is according to the statistics released by the U.S. Labor Department.

The major interest of investors were drawn today to the declining Sterling against the greenback as the fears of investors mount that the British Prime is preparing to focus increased emphasis on controlling immigration over membership of the single market of the EU. The pound thus fell down by 0.9% dropping to $1.2634. The decline follows the drop of the sterling to $1.2622 which is a very significant three-decade low.

 

The British pound dives down as French President say Britain must "suffer"

The British pound suffered one of its largest declines today. This is very bad for the sterling which dropped by over 5% against the dollar. This decline comes as investors are worried over the consequences of Britain leaving the EU. The worries even got worse after the British Prime Minister had assured her party that she would prioritize the exit of Britain from the EU with special focus on how immigration would be controlled.

Earlier on, the French President Francois Hollande, had commented that Britain must "suffer" as a consequence of its referendum vote to leave the EU. This according to the French President would scare other members of the EU from following the path of Britain in leaving the euro bloc.

Thus the sterling dived down today falling from $1.2600 to $1.1378 in just some few minutes. On the other hand, the dollar also slipped today suffering a decline as news released for U.S. job growth for September turned out rather weak.

 

Pound recovers as Donald Trump's vulgar statement about women rescues the falling Mexican peso

The British pound recovered a bit today with the US dollar also recovering from the losses it suffered on Friday against its major rival currencies. On the other hand, the Mexican peso had gone up after a negative video came up showing the US presidential candidate Donald Trump making vulgar remarks about women.

Investors still worry over the sterling with ongoing tension over how Britain would leave the EU. The British prime minister had declared her strong stand on continuing procedures to exit the EU. Earlier on, the French President has said that Britain should "suffer" to serve as discouragement to other countries thinking of leaving the EU.

As at now, the pound is much more stable compared to how it was last week. The Mexican peso had been suffering much since May when Trump made pledges to tighten up restrictions on immigration as well as restructuring trade relations. But today, Mexican peso pulled back from some its losses with the reducing chances of Donald Trump winning the US election.

 

Dollar springs up to 11-week peak as hopes of interest rate hike swell

The dollar today jumped to a high of 11 weeks. The significant increase in the dollar today comes as hopes are really high among investors that the Federal Reserve would increase interest rates by the end of the year. This is actually getting more likely considering the series of U.S. economic data which have been generally impressive in the previous weeks.

Sterling is still struggling to pull noticeably from its free fall since last week Friday. The continued decline of the sterling can be traced to fears among investors over how the British economy would respond when the UK exit from the European Union begins proper.

In the US, investors eagerly expect the release of the minutes of the latest Fed monetary policy meeting. Investors will use this in calculating the prospects of interest rates hike being introduced by December.

The euro dropped down against the dollar to over a two-month low against the dollar, dropping down to $1.1056.

 

Sterling pulls back from losses as investors get less worried

Sterling impressively turned around its losses today as signals show that the British exit from the EU may be done in such a way that the effects will not be too damaging on the British economy. On the other hand, the dollar rose up to a high of seven months against its major rivals as investors eagerly look forward to the minutes of meeting to be released by the Federal Reserve.

Worries have been previously high among investors that Britain could drop complete access to the EU's single market. These fears had last week dropped the sterling to 31-year lows with the sterling spectacularly crashing by 10% in just minutes last week Friday.

British Prime Minister Theresa May's proposition to offer lawmakers a say in the process of exiting the EU had eased fears among investors who feared a "hard" UK pull out. According to analysts, majority of these lawmakers in the parliament that the prime minister is meeting with are against UK leaving the EU. Thus Britain could peacefully negotiate its way out of the EU.

Sterling had risen up by over 0.6% against the dollar; rising up to $1.2199.

 

Dollar drops from 7-month peak as Chinese trade data shock investors

The dollar crashed down today falling from a seven-month high. The decline in the dollar comes as there was a shift in risk appetite among investors with released Chinese trade data being down. This Chinese data released really surprised investors as they were deeply expecting interest rate hike from the Federal Reserve by December.

The U.S. currency today dropped from a high of two months against the Japanese yen even falling too against the Swiss franc. With the last interest rate hike coming last year, traders are heavily expecting the US Federal Reserve to introduce interest rate hike this year. Data revealed that exports from the Asian country China, which occupies the position of the world's second largest economy, dropped by 5.6% in Yuan terms last month as compared to its reading for the month of August. The equivalent of the decline of this Chinese export in dollars is 10%.

Yet so far the US dollar has made gains of over 1.8% this October against its major rival currencies, as dollar is getting stronger from high U.S. rate hike expectations.

 

Dollar drops from 7-month peak as Chinese trade data shock investors

The dollar crashed down today falling from a seven-month high. The decline in the dollar comes as there was a shift in risk appetite among investors with released Chinese trade data being down. This Chinese data released really surprised investors as they were deeply expecting interest rate hike from the Federal Reserve by December.

The U.S. currency today dropped from a high of two months against the Japanese yen even falling too against the Swiss franc. With the last interest rate hike coming last year, traders are heavily expecting the US Federal Reserve to introduce interest rate hike this year. Data revealed that exports from the Asian country China, which occupies the position of the world's second largest economy, dropped by 5.6% in Yuan terms last month as compared to its reading for the month of August. The equivalent of the decline of this Chinese export in dollars is 10%.

Yet so far the US dollar has made gains of over 1.8% this October against its major rival currencies, as dollar is getting stronger from high U.S. rate hike expectations.

 

Dollar recovers from its losses with supportive US data

The US dollar today rose up; pulling back from the losses it suffered yesterday. This set of gains on Friday puts dollar well in line for its biggest gains in a week in over six months against the euro.
The gains in the dollar comes today with encouraging U.S. retail sales as well as impressive producer prices data for last month. These two improved macroeconomic indicators increased the hopes of investors who are greatly looking forward to interest rates hike from the Federal Reserve in December.

Safe-haven currencies like the Japanese yen as well as the Swiss franc gave up their gains against the dollar today. Just yesterday, safe haven currencies had enjoyed gains against the dollar with a declining Chinese export data shocking the whole market.

The dollar index which measures the performance of the US against its major rival currencies went up today by 0.3% climbing up to 97.788.
The U.S. retail sales data had shown an increase of 0.6% from its reading last month. The raise in the data follows a previous decline US retails sales had suffered for the month of August.

 

Dollar crawls up as uncertainty rises over interest rates hike

The U.S. dollar made little gains today in a market that went up and down. The zigzag movements in the market come as investors rushed to take profit from the recent gains of the dollar. The rush to take profits comes as traders are not really certain that the Federal Reserve would introduce rates hike this year.

The greenback so far has moved up by over 2.9% since the last week of September, along with an increase in benchmark U.S. Treasury yields which had increased by over 1.5% jumping to four-month high. In the last few weeks, U.S. economic data has not been too strong, especially the disappointing retail sales we had last week Friday which caused some traders to take profit hurriedly.

The dollar index, which measures how well the dollar is doing against its major rival currencies, had gone up by just 0.06 percent, crawling up to 97.954 after going down earlier in the day.

 

Euro loses strength against dollar as readers strongly eye ECB meeting

The euro lost strength today against the U.S. dollar. This decline comes 24 hours prior to the crucial meeting of officials of the European Central Bank. Investors are greatly looking at this as they try to calculate if Mario Draghi who is the ECB President Mario Draghi will give any clue as to if the European bank will make changes to its bond purchase program.

It is possible the ECB could hold discussions on making some technical changes to its asset-buying program. But then we may see the ECB postpone its decision till December. This is when the bank will convene to discuss the possibility of extending the scheme past March next year.

For some time now, the US dollar has been strongly related with the U.S. Treasury yields. This is as the chances get bigger that the US Federal Reserve may introduce interest rates hike by this December in their policy meeting.

Thus today the euro had gone down by 0.10% against the American dollar. This decline brings it down to $1.0967.

 

Euro woefully falls to four-month lows on Draghi comments

The euro significantly dropped down against the dollar to a four-month low today. The drop in the euro pushes up the U.S. dollar index which rose to a high of seven month. The decline in the euro comes as Mario Draghi who is the European Central Bank President announced that the bank did not hold discussions pertaining to putting an end on bond purchases. According to Draghi, the ECB didn't even discuss extending it either.

Some time at the beginning of October, Bloomberg had reported that the policymakers of the ECB policymakers were trying to come to agreement so that quantitative easing can be reduced slowly over time when the central bank chooses to terminate the program.

The euro had gone down by 0.44% against the U.S. dollar, dropping down to $1.0924. The dollar index which measures the performance of the dollar against other major currencies had increased to 98.241; this is its peak since March 10.