Daily Forex News

Ahead of the monetary policy announcements by the Bank of England and the European Central Bank, the British pound recovered its Asian session losses against other major currencies in early European deals on Thursday.

During early European deals on Thursday, the dollar showed mixed performance against its major counterparts. While the dollar pared its Asian session gains against the euro and the pound, it recovered from a 6-day low against the yen. Against the Swiss franc, the dollar remained higher today.

In Asian deals on Thursday, the Japanese yen surged up against its major counterparts as stock markets across sentiment was dented on weak economic and corporate earnings reports.

Thursday in Asia, the Canadian dollar dropped to a 2-day low against its US and Japanese counterparts as the crude oil prices fell toward $65 a barrel today, extending its 7 percent overnight drop after rising job losses sharpened worries of a global recession and growing U.S. fuel stockpiles underscored dimming oil demand.

Thursday morning in Asia, the Japanese yen strengthened to a 2-day high against the currencies of UK, New Zealand, Canada and Australia as a fall in stock prices prompted investors flee from ‘carry trade’.