Safe-haven currencies the yen and Swiss franc were in favor on Thursday, consolidating their overnight gains as worries about the health of the Chinese economy and the ongoing crisis in Ukraine took a toll on risk appetite.» Read More
The dollar was steady ahead of Janet Yellen's testimony in Congress, while Norway's crown jetted almost 1 percent higher.
Harry Dent, Editor of Survive & Prosper and Michael Blythe, Chief Economist at Commonwealth Bank of Australia discuss whether the RBA has caused Australia's property market to overheat.
The dollar see-sawed after a weaker-than-expected U.S. jobs report on Friday.
Global currency markets trod water ahead of interest rate decisions in Britain and the euro zone on Thursday.
*Focus on ECB policy review later on Thursday. SYDNEY/ SINGAPORE, Feb 6- The euro held steady on Thursday ahead of the European Central Bank's policy review, while the Australian dollar rose as strong data reinforced the view that Australia's central bank was done cutting interest rates.
Hamish Pepper, Forex Strategist, Asia Pacific at Barclays, says the RBA's shift to a neutral policy stance and recent strong data should strengthen the Aussie dollar.
The yen gained on Wednesday, as struggles in stock markets and the emerging markets forced investors to seek safe-haven currencies.
SYDNEY, Feb 5- The yen edged higher on Wednesday but remained below multi-month highs after emerging markets stabilised, while the Australian dollar took a breather following a powerful rally. The U.S. dollar eased 0.2 percent to 101.45 yen while the euro sagged 0.3 percent to 137.03 yen.
Kristy Campbell, Analyst at Macquarie Private Portfolio Management says Australian investors are concerned about the potential for the RBA to start hiking rates this year.
Michael Every, Head of Financial Markets Research, Asia-Pacific at Rabobank, says conflicting data from recent unemployment and inflation figures, is behind the Reserve Bank of Australia's decision to keep rates unchanged.
SYDNEY, Feb 5- The yen got off to a weak start in Asia on Wednesday having retreated from multi-month highs as emerging markets stabilised and stocks rebounded, while the Australian dollar took a breather following a powerful rally.
Andrew Abrahamian, Head of FX Strategy, Compass Global Markets, says the Reserve Bank of Australia (RBA) is likely to continue pushing the Aussie dollar lower as the economy recovers at a slower than desired pace.
NEW YORK, Feb 4- The Australian dollar rose more than 2 percent on Tuesday after the country's central bank dropped its easing bias toward interest rates and toned down its long-term call for the currency to weaken.
The Australian dollar surged almost two percent on Tuesday after moves from the country's central bank dropped.
LONDON, Feb 4- The Australian dollar surged almost two percent on Tuesday after the country's central bank dropped its bias towards easing interest rates and toned down its long-term call for the currency to weaken.
Jonathan Cavenagh, Senior FX Strategist, Institutional FX Sales, Asia at Westpac Institutional Bank, explains how the Reserve Bank of Australia's decision provides support for the Aussie dollar.
SINGAPORE, Feb 4- The Australian dollar stole the limelight on Tuesday, surging over half a U.S. cent after Australia's central bank surprised some traders by dropping its bias towards easing rates.
Scott Phillips, Advisor at the Motley Fool Australia, and Savanth Sebastian, Equities Economist at CommSec, discuss the Reserve Bank of Australia's decision to leave interest rates steady.
The euro was soft on Monday as investors thought it more likely the European Central Bank would have to ease policy to combat slowing inflation.
The euro fell as soft euro zone inflation data rekindled concerns the ECB may have to act to combat deflation, while the dollar gained.