Daily Forex News

Tuesday, the pound plunged to a record low against the yen and breached the 1.40 level against the dollar in almost 7 1/2 -years as U.K.’s second bank-bailout plan in three months raised concern the global financial crisis is deepening. The pound also dropped to a 15-day low against the euro and the franc.

Tuesday, the pound plunged to a record low against the yen and breached the 1.40 level against the dollar in almost 7 1/2 -years as U.K.’s second bank-bailout plan in three months raised concern the global financial crisis is deepening. The pound also dropped to a 15-day low against the euro and the franc.

Extending Asian session’s uptrend, the Canadian dollar jumped to a 6-day high against the euro during early European deals on Tuesday. At the same time, the loonie reversed the losses it incurred in Asian trading against the currencies of US and Japan. The loonie thus recovered from a 5-day low against the greenback and the yen. Meanwhile, the Canadian dollar eased from a 5-day high against the Aussie.

Extending Asian session’s uptrend, the Canadian dollar jumped to a 6-day high against the euro during early European deals on Tuesday. At the same time, the loonie reversed the losses it incurred in Asian trading against the currencies of US and Japan. The loonie thus recovered from a 5-day low against the greenback and the yen. Meanwhile, the Canadian dollar eased from a 5-day high against the Aussie.

During early European deals on Tuesday, the US dollar extended its Asian session’s uptrend against the European currencies as the crude oil prices fell toward $33 a barrel today on concern the global recession may deepen after the U.K. bailed out banks for the second time in three months.

During early European deals on Tuesday, the US dollar extended its Asian session’s uptrend against the European currencies as the crude oil prices fell toward $33 a barrel today on concern the global recession may deepen after the U.K. bailed out banks for the second time in three months.

Tuesday in Asia, the yen jumped to near a record high against the pound as a slump in Asian stocks prompted investors to sell higher-yielding assets funded in Japan. The yen also climbed to a 4-day high against the dollar and the kiwi and a 5-day high against the euro, franc, aussie and the loonie.

Tuesday in Asia, the yen jumped to near a record high against the pound as a slump in Asian stocks prompted investors to sell higher-yielding assets funded in Japan. The yen also climbed to a 4-day high against the dollar and the kiwi and a 5-day high against the euro, franc, aussie and the loonie.

Tuesday, the New Zealand dollar plummeted to a fresh multi-month low against the Australian dollar after a government report said that consumer prices in New Zealand declined in the fourth quarter of 2008, fueling expectations that the Reserve Bank of New Zealand will cut the benchmark interest rate to a record low next week. The kiwi also slumped to new multi-day lows against its other major counterparts.

Tuesday, the New Zealand dollar plummeted to a fresh multi-month low against the Australian dollar after a government report said that consumer prices in New Zealand declined in the fourth quarter of 2008, fueling expectations that the Reserve Bank of New Zealand will cut the benchmark interest rate to a record low next week. The kiwi also slumped to new multi-day lows against its other major counterparts.