May 2014 FX News

Positive US data drives the dollar 27 May at 5 AM Upbeat economic data coming from the US has helped to boost the dollar. A more than 1 per cent climb against a basket of other currencies came on the back of expectations the Federal Reserve will hike interest rates before the end of the year.

Against the yen the dollar hit an eight year high. The greenback has also put pressure...

Euro gains against the dollar 22 May at 7 AM The euro is up against the US dollar following signs of slight economic recovery in the eurozone. The single currency has been given a boost by a German Bund yield rise. The euro is currently up 0.7 per cent at $1.1182 after hitting a three week trough on Wednesday of $1.1062.

Although PMI data for the eurozone indicated a drop...

Dollar lower on US economy concerns 15 May at 7 AM Softer than expected producer prices data from the US has put pressure on the dollar. The greenback is currently in a trough not seen since the beginning of the year. It now looks increasingly unlikely that the US Federal Reserve will increase interest rates in the near future.

Last month the producer price index fell by 0.4 per...

Euro up against the dollar following disappointing economic first quarter 6 May at 8 AM A disappointing economic first quarter in the US has caused the dollar to slip. During March the US trade deficit hit $51.4 billion, an increase of 43.1 per cent, mainly due to an increase in imports. There are fears from some analysts that the lack of growth may have caused the GDP to have contracted over the first three months of the...

Euro and dollar recover slightly against strong yen 30 May at 8 AM Profit booking by investors at the end of the month has halted the yen’s advancement against the euro. The single currency is worth 138.14 yen after hitting 137.98, the lowest it has been against the Japanese currency in four months. The dollar has also clawed back from a one-week low to 101.55 yen after falling to 101.42.

The...

Aussie down against the dollar 20 May at 11 AM A drop in the price of iron ore has caused the Australian dollar to slip by more than 0.5 per cent. Iron ore is one of Australia’s main exports. Although the Aussie has managed to recover from lows plumbed at the end of January, there has been concern that the economy could suffer from slow growth in China, the country’s top trading...

Euro settles against dollar 13 May at 8 AM Although the euro appears to have stabilised against the US dollar, the single currency could still come under further pressure if the European Central Bank introduces measures to limit its strength over the longer term. The euro is currently trading near a one-month low at $1.3755. On Friday the euro dropped 1.2 per cent to $1.3745 after ECB...

Euro under pressure from ECB 9 May at 8 AM Comments by President of the European Central Bank, Mario Draghi, about possible monetary easing have hammered the euro. The single currency is licking its wounds at $1.3843 after hitting a high of $1.3992. Draghi is concerned about the strength of the euro and may introduce easing to stem falling inflation.

The dollar also...

Positive economic data boosts pound 2 May at 9 AM Upbeat economic data coming out of the UK has helped sterling to hover around a five-year high. The pound is currently worth $1.6886 after peaking at $1.6921 on Thursday. Figures for manufacturing for last month indicated a surge in production and house prices also rose during April faster than they have since June 2007.

The...

Dollar up as euro under pressure 29 May at 9 AM The euro remains under pressure this week after comments on Tuesday that the European Central Bank could push interest rates into negative territory. Christian Noyer, governing council member, said if it becomes necessary then the central bank is prepared for an interest rate cut.

Peter Praet, executive board member, echoed the...

Dollar down ahead of Fed announcement 22 May at 9 AM The US dollar dropped against the euro ahead of an announcement today by head of the Federal Reserve, Ben Bernanke, that analysts are hoping will shed some light on whether the central bank intends to go ahead with its policy of quantitative easing.

Doubts that a policy of monetary easing will come to end in the short term were...

Dollar doing well as US releases positive economic data 15 May at 9 AM The US dollar is continuing to do well against a basket of currencies and remains close to its highest level against the yen since October 2008. The strength of the greenback can be attributed to rising Treasury yields and signs that the US economy is firmly on the road to recovery.

The dollar was last trading at 102.24 yen, a...

Aussie dollar drops following interest rate cut 8 May at 9 AM An interest rate cut by the Reserve Bank of Australia saw the Aussie dollar drop to a two-month low. Predictions that the central bank could slash rates further saw the Aussie fall 0.7 per cent to $1.0165.

In neighbouring New Zealand the Kiwi dollar has also fallen after the central bank made complaints about the present strength...

Dollar down as US economy stumbles 1 May at 9 AM The US dollar has hit a two-month low following a slew of disappointing data. The lackluster state of the world’s largest economy is likely to see the Federal Reserve announce that it will continue with its bond-buying programme. Figures for April show that in the US Midwest business activity is shrinking. Economic growth for the first...