Daily Forex News

The NZ dollar, and close allies AUD and EUR, appear stuck - stuck ahead of a sharp move. But in which direction? Falling share prices and imminent interest rate cuts suggest the break will be downwards. The JPY trend reversal and the possibility of post-easing rebounds suggest the break will be upwards.
I’m going with a […]

Friday, the Swiss franc fell to a 1-week low against the US dollar and a 3-day low against the Japanese yen. On the other hand, the franc traded higher against the pound, while eased from a 2-day high against the euro.

The British pound extended its Asian session’s downtrend against other major currencies during early European deals on Friday. The pound thus plummeted to a 9-day low against the dollar and a 2-day low against the yen.

During early deals on Friday, the dollar strengthened to new multi-day highs against its European counterparts as the crude oil prices fell more than $1 to near $44 a barrel today, pulling back from a more than 6 percent gain in the previous session as economic data from the world’s largest economies pointed to a widening global recession.

The Swedish krona plunged to a new record low against the euro during Friday’s early deals as the Sweden economy shrinked more than expected in the fourth quarter of 2008. The krona also tumbled to a new multi-year low against the dollar.

Friday, the Indian rupee breached the 51 level against the dollar for the first time in history, weighed down by heavy dollar demand from importers to meet month-end commitments and a weak GDP report.

Friday morning in Asia, the Swiss franc showed mixed trading against its major counterparts. While the franc slipped against the yen, it strengthened against the euro and the pound. The franc thus rose to a 2-day high against the euro. Against the dollar, the franc dropped in early trading but rebounded around 7:50 pm ET.

Friday morning in Asia, the pound showed weakness against its major counterparts despite a report showed that the consumer confidence in UK unexpectedly improved in February.

During early deals on Thursday, the Canadian dollar soared against its US and Japanese counterparts as the crude oil prices rose to $43 per barrel today. The Canadian dollar jumped to a new multi-week high against the yen. Also, the Canadian dollar rose from a 13-day low against the Aussie.

The British pound showed mixed trading against its major counterparts in early European trading on Thursday. The pound reversed the losses it incurred in Asian deals against the yen and the dollar. The pound thus recovered from a 6-day low against the dollar. On the other hand, the pound pared its early gains against the euro and the franc.