Daily Forex News

During early deals on Monday, the Japanese yen climbed to new multi-day highs against its major counterparts on expectations that central banks in major economic regions will cut interest rates this week to limit the damage from the global financial turmoil.

The euro showed mixed performance against the rest of majors in early trading on Monday. While the euro advanced against the pound, it weakened against the Japanese yen and the Swiss franc.

Monday during early deals, the Australian dollar slumped to new multi-day lows against most major counterparts on speculation that the Reserve Bank of Australia may reduce interest rate by 75 basis points to 4.50% tomorrow.

This week there will be plenty of news from Australia. The week started with another fiscal stimulus. Tomorrow the RBA is expected to add to the monetary stimulus with a 0.75% cut to provide a 4.5% cash rate. Wednesday we will probably learn that the Australian economy is still growing - just! - while a […]

The US dollar showed mixed performance against its south East Asian counterparts on Wednesday morning in Asia. While the dollar rose to a 21-month high against the Thai baht, it dropped to a 6-day and a 9-day low versus the currencies of Taiwan and the Philippines. Meanwhile, the greenback showed strength against the Singapore dollar, Hong Kong Dollar, South Korean Won and the Chinese yuan.

Share prices and currencies such as the NZD and AUD again moved in tandem last week - downward - but with one major difference: exchange rates such as the AUD/USD, EUR/JPY and USD/JPY failed to breach the lows of recent weeks. These patterns point to buyers - including governments - willing to commit at current […]

The Japanese yen extended its Asian session’s downtrend against other major currencies during early European deals on Friday.

During early deals on Friday, the Swiss franc fell to its lowest level in almost 17-months against the US dollar as the Swiss National Bank surprisingly lowered its interest rate by 100 bps yesterday. The franc also tumbled to a 5-week low against the euro and a 2-day low against the pound. But the franc showed strength against the yen today.

Friday in Asia, the Singapore dollar plunged to new multi-month lows against its US and Hong Kong counterparts as Singapore received confirmation today that its economy has slipped into a technical recession as the final report for third-quarter gross domestic product was negative for the second consecutive quarter.

Friday morning in Asia, the Australian dollar traded up against other major currencies, thereby reversing the losses it incurred yesterday. The aussie thus recovered from new multi-week lows against the greenback, the yen and the euro, while it gained from a 9-day low against the loonie.