October 2012 FX News

Investors look for safe havens as IMF drops growth forecast 16 Oct at 5 AM Another cut in the IMF’s global economic growth forecast and poor industrial output data coming from Germany last week has helped to boost the value of the yen as investors look for safe-havens. The dollar is trading at a three-week low after hitting its highest level in six years last week. The greenback has dropped from 110.09 yen to...

Dollar firms against the yen ahead of jobs data 3 Oct at 7 AM The dollar has managed to gain some ground against the yen after steep overnight losses. The greenback is up 0.4 per cent to 108.83 yen after an increase in Tokyo stocks which softened the demand for the safe haven Japanese currency. It is unclear whether the dollar will continue to regain strength and analysts are now concentrating on US...

Barclays cooperating with foreign exchange investigation 31 Oct at 9 AM Barclays Bank has said it will cooperate with regulators in the investigation into currency trading manipulation.

The bank, which is suffering from an investment banking slump, is looking into its foreign exchange trading activities over the past few years. Several other banks are also under scrutiny concerning possible rigging...

Forex manipulation investigated by US Justice Department 30 Oct at 9 AM Accusations of foreign exchange rate manipulation by banks are currently being investigated by the US Justice Department. Antitrust regulators are conducting an ongoing investigation, according to acting head of the Justice Department’s criminal division, Mythili Raman.

Allegations of Libor manipulation have resulted in...

Investors expect little change in Fed policy 29 Oct at 9 AM The US dollar climbed slightly higher today, but is still not far off its lowest level in nearly nine months. Investors are currently waiting to see the results of a meeting at the Federal Reserve, but most are sure that the central bank will be sticking to its massive monetary stimulus programme until next year.

Following a 0.2...

US dollar steady ahead of Fed meeting 28 Oct at 9 AM The US dollar is holding steady ahead of a Federal Reserve policy meeting later in the week. Last week the dollar fell to its lowest level against the euro in two years. It is widely expected that the Fed will maintain its $85 million bond buying programme until at least the end of the year, something that could keep pressure on the...

Federal Reserve QE keeps the dollar under pressure 25 Oct at 9 AM The US dollar continues to remain under pressure because of expectations that the Federal Reserve will not begin to scale back its asset purchase programme before the beginning of next year at the earliest. The greenback is close to its lowest level in two years against the euro. The single currency is currently steady at $1.3802, not far off...

Dollar recovers slightly 24 Oct at 12 PM The dollar is slightly up against a basket of other major currencies. However the greenback has remained within recent ranges as investors show some concern over China’s liquidity. Money market rates hit a three-month high yesterday as the People’s Bank of China again refused to inject cash into the system.

All eyes are...

Safe haven currencies up 24 Oct at 9 AM The safe haven currencies have enjoyed a spike as risk appetites declined following an increase in interest rates in China’s money market.

The yen, Swiss franc and dollar were all up on Wednesday after September’s jobs data for the US made it increasingly likely that the Federal Reserve will keep its stimulus programme...

Dollar finds support ahead of jobs data 22 Oct at 9 AM The US dollar has found some support ahead of jobs data due to be released later. The figures for September have been delayed because of the government shutdown in Washington, but positive news is likely to see the dollar climb away from a recent eight-month trough.

The government shutdown caused investors to worry about the...

Euro holding firm as dollar flounders 21 Oct at 9 AM Expectations that the Federal Reserve will hold off tapering its easy money policy for the time being because of the recent government shutdown in the US have helped to keep the dollar down near its lowest level in eight months. Meanwhile the euro is heading towards its highest level this year. The dollar index is currently steady at 79.675....

Dollar drops against yen and euro 18 Oct at 9 AM The US dollar has been dragged back down to its lowest level in eight months as analysts assess just how damaging the government shutdown in Washington has been to the country’s economy. It is now unlikely that the Federal Reserve will begin to taper its massive bond buying programme before the end of this year.

An...

Dollar drops on US government agreement 17 Oct at 10 AM The US dollar has dropped following a last minute deal in Washington to avoid a debt default. Business and investor confidence has been damaged by two weeks of government shutdown and the economic growth of the world’s largest economy dented.

It is now unlikely that the Federal Reserve will pull in its massive bond buying...

Dollar recovers as Washington deal looks likely 16 Oct at 9 AM The US dollar is up against the yen as it looks likely that Senators in Washington will come to a deal to avoid a debt default.

The greenback rose 0.4 per cent against its Japanese rival to reach 98.50 yen. Yesterday the dollar hit a low of 98.07 as Fitch’s put the US on a credit watch rating and the House of Representatives...

Dollar rallies on hopes of an agreement in Washington 15 Oct at 9 AM Signs that Democrat and Republican Senators could be nearing a deal that would reopen Washington and stave off a debt default have helped the dollar to pull back to its highest level in two weeks against the yen. The greenback is currently trading at 98.64 yen after earlier rising as high as 98.71 yen.

Following yesterday’s low...

Japan targets private sector to help run forex funds 13 Oct at 10 AM According to a report by Reuters, Japan’s government is looking to trust banks and private sector funds to help manage its foreign exchange reserves.

These reserves currently stand at $1.27 trillion. In the past decade the foreign exchange reserve in Japan has doubled because of a massive yen-selling policy introduced to...

Dollar will bounce back 11 Oct at 9 AM The close down of the US government has been weighing heavy on dollar recently, but there are signs that a deal may be agreed in Congress. This should see the greenback recover from its lowest level in eight-months against currencies like the euro.

According to the US Treasury, by 17 December, if no agreement is made in Congress,...

Dollar finds support 10 Oct at 9 AM The US dollar appears to be getting some support from hopes that the deadlock in Washington may be breaking. The greenback picked up 0.2 per cent against the yen to 97.53 yen. The dollar index, an indicator of how the US currency is doing against other major world currencies, is holding firm at 80.41 after hitting an eight-month trough of...

Dollar recovers slightly 9 Oct at 9 AM Although the US dollar remains close to its lowest level in eight months against a basket of other currencies some relief was given by news that President Barack Obama is supporting Janet Yellen, Federal Reserve Vice Chairwoman, for the central bank’s top job. Ben Bernanke, the current chairman, is due to step down at the end of...

US budget deadlock keeps dollar under pressure 8 Oct at 9 AM The US dollar is continuing to struggle to pull away from an eight-month trough against other major currencies as there is still no sign that Congress is close to breaking the budget deadlock. Investors are ignoring the greenback and putting their faith in safe-haven currencies like the Swiss franc and the Japanese yen.

The US...

Dollar slips after lack of progress in Washington 7 Oct at 9 AM A lack of progress in the US at the weekend concerning the budget standoff has left the dollar on the back foot against safe haven currencies the Swiss franc and yen. The dollar index remains close to its lowest level in eight months against a number of major currencies.

Comments on Sunday by John Boehner, Republican House...

Euro close highest level this year 4 Oct at 9 AM The US dollar remains pinned down because of the government shutdown in Washington. This has helped to push the euro close to its highest level this year. The single currency is trading at $1.3630 after earlier hitting a peak of $1.3646. Among the factors giving the euro support was better than expected news about Italy’s services sector...

Dollar near lowest level in eight months 3 Oct at 9 AM The government shutdown in the US is weighing heavy on the dollar, which is currently hovering around its lowest level in eight months. Conversely the euro is doing well as the political situation in Italy seems to have sorted itself out and the European Central Bank remains committed to doing everything in its power to protect Europe’s...

Positive US economic data supports dollar 2 Oct at 9 AM The dollar may have been down against a basket of other major currencies yesterday, but there has been some recovery since jitters in the market over the government shut down in Washington. The greenback was given some support after positive manufacturing data was released. Manufacturing activity is growing faster than it has in well over two...

Dollar firmer as euro also pulls back 1 Oct at 9 AM The dollar index is up 0.1 per cent against a number of currencies. The greenback is a tad firmer as investors look to Washington and the possibility of a government shut down. If the borrowing authority of the federal government is not raised by the middle of this month there could be a debt default that would be felt around the globe.