September 2013 FX News

Dollar index maintains highs 24 Sep at 6 AM The dollar index, a measure of how the US currency is doing against a basket of other major currencies, has managed to hold close to its highest level in four years. However, the greenback has dipped a tad against the safe haven yen after US and Arab fighters attacked targets in Syria.

The Japanese unit was also given a boost by...

Pound jumps on Scottish referendum result 19 Sep at 7 AM Indications that Scotland will not be splitting from the United Kingdom have sent the pound to a two-week high against the dollar. Thursday’s referendum on independence saw voters come out in force and vote against a UK break-up. A survey by YouGov earlier showed that 54 per cent of voters wanted Scotland to remain a part of the UK with 46...

Fed interest rate rise strengthens dollar 10 Sep at 6 AM The dollar remains close to 14-month highs against its major competitors as it looks likely the Federal Reserve will announce an increase in interest rates sooner than expected. The news has hit shares in Asia and sent US bond yields higher. The rate hike announcement could come after the Feds policy meeting later this month.

On...

Euro suffers as ECB introduces further stimulus 5 Sep at 6 AM The euro has experienced heavy losses as the European Central Bank introduced more monetary stimulus and promised to provide more if needed. The single currency dopped 1.6 per cent against the dollar, the most it has fallen since November 2011. The ECB has announced to will slash interest rates and buy covered bonds and asset-backed...

Politics weigh heavy on euro and dollar 30 Sep at 9 AM The euro has been hit hard by the political crisis in Italy and the dollar has also fallen against the yen as a possible government shutdown in Washington looms. The safe haven yen has done well out of the possible turmoil, as has the Swiss franc. The euro is currently down to 131.38 yen, a drop from 132.78 yen. The single currency has also...

Dollar finds support from jobs data 27 Sep at 9 AM The US dollar has recovered from earlier losses to make broad gains after jobs data was stronger than expected. This has supported expectations by the markets that the Federal Reserve will soon begin to draw in its bond-buying stimulus programme.

However, the greenback could still come under some pressure as there are still...

Dollar down as US budget crisis looms 26 Sep at 9 AM The US dollar remains on the back-foot and is currently trading close to its lowest level in nearly 7 months. The currency is being hampered by a lack of progress in Washington to avert a government shutdown. The greenback is also under pressure because last month’s new home sales were close to their lowest level this year and there was...

ECB comments put pressure on the euro 25 Sep at 9 AM The euro has come under pressure following the release of disappointing German sentiment data. The single currency has also suffered from comments made by Mario Draghi, head of the European Central Bank, earlier in the week that the bank is likely to continue to deliver long-term loans as a way of keeping market rates down.

The...

Euro down as analysts consider German coalition 24 Sep at 9 AM The euro has dropped against most major currencies because of concerns over the result of Sunday’s election in Germany. Angela Merkel’s conservatives failed to pick up enough votes to rule outright and she will now have to form a coalition.

Pressure has been placed on the euro because Merkel’s former coalition party, the...

Dollar down as Fed puts off tapering 23 Sep at 11 AM Hints from a top Federal Reserve official that the central bank could begin to scale back its bond buying programme next month have helped keep the dollar off a seven-month low. The euro has also failed to gain much after elections in Germany left Angela Merkel’s conservatives failing to get enough votes to be able to rule the country...

Fed pushes dollar down 19 Sep at 9 AM The US dollar has fallen to its lowest level in seven months following the surprise announcement that the Federal Reserve will continue with its massive $85 billion per month bond buying programmme. Most analysts expected the central bank to drop the figure by at least $10 billion.

Although bad news for the greenback, most...

Dollar remains weak ahead of Fed announcement 18 Sep at 9 AM The US dollar is continuing to hover around its lowest level in a month against a number of other major currencies. The greenback remains under pressure ahead of a policy announcement by the Federal Reserve. Most investors expect the central bank to confirm that any tapering of its easy money programme will be modest.

The dollar...

Dollar down to four week low 17 Sep at 9 AM The withdrawal of Lawrence Summers from the race for the top job at the US Federal Reserve has seen the dollar drop to its lowest level in nearly four weeks. Without the hawkish Summers at the helm it is likely that any moves to tighten up monetary policy by the central bank will be more cautious. The frontrunner for the position as chairman...

US dollar drops as Summers pulls out of race for Fed job 16 Sep at 9 AM The US dollar is down against a number of other major currencies to its lowest level in nearly four weeks. The slide came after Lawrence Summers confirmed that he would no longer be in the running for next chairman of the Federal Reserve.

His departure from the race for the central bank’s top position means it is more likely...

Dollar index climbs a tad 13 Sep at 12 PM The dollar index has pushed higher after yesterday hitting its lowest level in two weeks. Although the dollar is up, the US currency is still under pressure because of doubts that the Federal Reserve will pull back its monetary stimulus programme as significantly as was previously expected. All eyes are now on a meeting at the central bank...

Dollar down on doubts about Fed stimulus plans 12 Sep at 9 AM The US dollar has hit its lowest level in two weeks as doubts hang over whether the Federal Reserve will go ahead with plans to slash its massive monetary stimulus operation next week. The dollar index, a measure of the US currency against a basket of other major currencies, dropped to 81.518. Doubts that the Fed will taper its easy money...

Yen largely ignored as Syria threat subsides 11 Sep at 9 AM The yen, popular as a safe-haven investment, has dropped as concerns the US might initiate military action against Syria recede and the Chinese economy appears to be growing. Stocks in Asia are also continuing to rally with the Nikkei N225 adding another 0.5 per cent in Tokyo.

Although some investors are showing more confidence...

Money markets watch for a decision on Syria 10 Sep at 9 AM The US dollar has recovered slightly although it is likely to remain under pressure because of the uncertainty surrounding the Federal Reserve’s plans to taper its bond buying programme and the situation regarding a possible invasion of Syria.

However, the situation in the Middle East seems to have eased following a proposal...

Yen drops as Tokyo secures the Olympics 9 Sep at 10 AM The yen has dropped against the dollar following Tokyo’s winning bid to host the Olympic Games in 2020. The dollar is now worth 99.57 yen, a rise of 0.4 per cent. The euro is also up to 131.21 yen, an increase of 0.5 per cent.

The committee in charge of the Olympic bid reckon higher pieces and construction could add three...

US dollar strengthens 6 Sep at 12 PM The US dollar is close to its highest level in nearly seven weeks against a number of other major currencies as positive jobs data coming out of the US makes it extremely likely that the Federal Reserve will begin to reel in its monetary stimulus programme.

However, the euro has suffered from an announcement by the European...

Pound and euro up on positive European data 5 Sep at 9 AM The dollar is hovering just below its highest level in six weeks as investors watch to see if jobs data due out at the end of the week will push the Federal Reserve to make a definitive decision on tapering quantitative easing before the end of the month.

Indications that if the US does decide to go ahead with military strikes...

Dollar steady ahead of central bank meetings 4 Sep at 9 AM The dollar is steady against its rivals as economic data coming from the US yesterday supports the Federal Reserve pushing ahead with a reeling in of its financial stimulus programme. According to analysts there is unlikely to be much movement in the markets ahead of meetings this week at central banks and as the possibility of military...

Yen down against the dollar as confidence returns 3 Sep at 9 AM The yen, popular as a safe haven investment at times of market uncertainty, has slipped to its lowest level in a month against the US dollar as it now looks like military intervention in Syria has been put on hold. An apparent recovery in global manufacturing has also helped to push the yen lower as the appetite for risk returns.