The dollar rose against a swath of currencies on Friday, rocketing to 4 1/2-year high against Japan's yen.» Read More
The dollar rose against a swath of currencies on Friday, rocketing to 4 1/2-year high against Japan's yen.
The U.S. dollar recovered to trade higher against the euro and yen late Thursday afternoon in a volatile session that saw the U.S. currency swing between gains and losses.
The euro fell to a six-week low against a buoyant dollar on Wednesday, hurt by an unexpectedly large contraction of the euro zone economy.
SINGAPORE, May 15- London copper fell to its lowest in more than a week on Wednesday, as weak European growth data hurt the euro, while dimming prospects for demand growth in top metals consumer China hurt the outlook for metals.
The yen fell against the dollar on Tuesday for a fourth straight session, hitting its lowest level in 4 1/2 years as signs that the U.S. economy is improving.
Despite recent positive data for the U.K. economy, analysts believe sterling will move even lower this week with the latest inflation report on Wednesday.
Kathy Lien, Managing Director of BK Asset Management says the global economy will be in trouble if the market rallies don't transpire into increased business and consumer confidence.
The dollar gained for a third straight session against the yen and euro on Monday as data showing a rise in U.S. retail sales assuaged fears of an economic slowdown.
The yen tumbled to its lowest in more than four years against the dollar on Friday on data showing Japanese investors were buying more foreign assets.
*Australia, Korea cut rates, NZ intervenes. Fears that a global currency war is brewing were fuelled when the Reserve Bank of Australia and Bank of Korea both cut interest rates this week, citing the strength of their currencies as one of the reasons to act.
The U.S. dollar skyrocketed to its highest level against the Japanese yen in over four years on Thursday, piercing the key technical and psychological 100 yen-per-dollar mark.
Geoffrey Yu, FX strategist at UBS, comments on the British pound and advises being short sterling against the euro.
Greg Matwejev, Director, FX Hedge Fund Sales and Trading at Newedge says the Bank of Korea rate cut was not really a surprise considering previous easing from other major central banks. John Woods, Chief Investment Strategist at Citi Private Bank joins in the conversation.
John Woods, Chief Investment Strategist at Citi Private Bank says the China trade data surplus could have been distorted by over-reporting from exporters.
Stuart Oakley, Managing Director, Asian Currency Trading at Nomura says global central banks are punishing the consumers for being stingy. He also states his reasons for recommending investors to be short U.S. Dollar & long Chinese yuan.
The euro rose against the dollar after an unexpected rise in German industrial output was seen making a near-term euro zone interest rate cut less likely.
Sani Hamid, Director, Wealth Management, Economy & Market Strategy at Financial Alliance makes the case for investing in the Chinese market for the long-term.
The euro firmed across the board on Tuesday after data showing German industrial orders beat forecasts, but the prospect of further monetary easing could limit its gains.
May 7- Non-deliverable forwards are used to hedge or speculate against currencies when exchange controls make it difficult for foreigners to trade in the spot market directly. The idea is the same as a regular foreign exchange forward- an investor or company wants to lock in an exchange rate for a certain period in the future.
The U.S. dollar rose for a third straight session against the yen on Monday and looked set to make another run at the 100 yen level on renewed optimism about the U.S. economy.