February 2013 FX News
Archived Daily FX News from the TorFX Foreign Exchange Specialists...
Dollar gains ahead of senate meeting
24 Feb at 6 AM
The dollar has made gains against most of the world’s major currencies ahead of an appearance by Janet Yellen, Chair of the Federal Reserve, before a senate panel. Analysts and investors will be looking for an indication as to when the US central bank intends to hike interest rates.
The euro has come under pressure following...
Dollar gains on positive jobs data
20 Feb at 8 AM
Upbeat jobless figures coming out of the US have helped lend support to the dollar. The data also makes it more likely the Federal Reserve will introduce an early interest rate hike. Meanwhile the euro remains under pressure ahead of a meeting to discuss a bailout package for Greece. The dollar index is up 0.2 per cent at 94.367.
Pound starts the week stronger
16 Feb at 5 AM
Sterling has managed a six-year high although trading has been thin due to Presidents’ Day holiday in the US and ahead of Lunar New Year holidays across much of Asia later in the week. The pound managed to scale a high of $1.5435 in early trading after trading at $1.5407 on Friday.
Sterling has been garnering favour with...
Oil prices boost commodity currencies
4 Feb at 7 AM
Commodity currencies have surged, fueled by a recovery in oil prices and an increase in the price of copper. This contributed to a drop in the dollar index of 0.9 per cent. After hitting 93.25 overnight, the index ended at 93.758.
The euro has been given a boost by hopes that a new debt deal will be secured for Greece. The single...
Dollar drops as aid expected for Ukraine
25 Feb at 8 AM
The dollar index has dropped a tad as investors look to riskier assets as the Ukraine expects international aid. The heavily indebted country is likely to receive aid from the West, something that has eased concerns and driven the greenback lower.
Commodity currencies including the Canadian, Australian and New Zealand dollars...
Dollar drops on disappointing data
19 Feb at 8 AM
The US dollar has slumped to its lowest level in seven weeks. Poor economic data and the heavy selling of US assets by foreign investors have had a negative effect on the greenback and helped push the euro. The single currency is hovering around $1.3761, its highest level in nearly seven weeks.
The dollar index stands at 79.985...
Dollar given support despite weak job stats
10 Feb at 9 AM
Expectations that the Federal Reserve will push ahead with its monetary stimulus reduction have helped support the dollar. Analysts believe the US central bank will reduce its bond buying programme even though the latest jobs figures have been disappointing.
The dollar is currently trading at 102.40 yen and the dollar index has...
Euro drops on weak inflation data
3 Feb at 8 AM
The euro has dropped to its lowest level against the dollar in nearly ten weeks as analysts watch to see if the European Central Bank will introduce measures to combat deflation. Investors are shying away from riskier assets, a move that is creating support for the safe-haven yen.
The euro is currently trading at $1.3489 after...
Concerns over euro ahead of bond sale in Italy
27 Feb at 9 AM
Demand for the US dollar has cooled after chairman of the Federal Reserve, Ben Bernanke, made comments suggesting that the US will continue with its policy of bond buying for the foreseeable future. A bond auction in Italy is being watched closely by investors as an indication of which way the euro will go.
Recent Italian...
Yen up as NZ dollar falls
20 Feb at 9 AM
The US dollar has slipped against the yen as uncertainty surrounds the Japanese government’s policy concerning the devaluation of the country’s currency. Although Prime Minister Shinzo Abe has suggested that buying up foreign bonds may be considered, Taro Aso, Finance Minister, has said that the move is not currently an option.
