Currencies news update


Private, 1st Class
Daily Currency update for various currencies like the USD,yen, Euro etc.

Forex Daily Currency Update
4th March 09, Wednesday

American Dollar:
The dollar rose to the highest level in more than three months against the euro after a government report showed Australia’s economy unexpectedly shrank last quarter, boosting demand for the U.S. currency as a refuge.

The euro was dragged down by selling in the AUD following the release of Australia's GDP data. Traders said the euro also drew fire ahead of Thursday's meeting of the European Central Bank, which is expected to cut interest rates to a record low of 1.5 percent from 2.0 percent.

Japanese Yen:
The yen strengthened to 122.96 per euro from 123.31. Japan’s currency climbed 0.6 percent to 62.25 against Australia’s dollar. Japan’s currency had its worst month in February since 1995 after a government report showed the world’s second-largest economy shrank the most since 1974 last quarter and Finance Minister quit.

Australia Dollar:
Australia’s dollar touched a one- month low after the economy shrank for the first time in eight years, increasing pressure on the central bank to add to a record round of interest-rate cuts. New Zealand’s dollar slid.

India Rupee:
India’s rupee traded near a record low on concern a deepening global economic slump will damp demand. The rupee was the third-worst performer in the past 12 months among the 10 most-traded Asian currencies, with a 22.4 percent loss. South Korea’s won and Indonesia’s rupiah have declined more.


Private, 1st Class
Hello all traders

Here's some digest for the day from the Bloomberg.
09th March 09, Monday

* Euro gains vs. USD:
The 16 country currency euro traded close to a one-week high against the dollar amidst speculation the European Central Bank (ECB) will slow down the pace of interest-rate cuts, helping to keep the currency attractive.

* AUD & NZD Up Against the Yen:
The Australian and New Zealand dollars gained against the yen as Japan posted its first current-account deficit in 13 years in January after the nation’s exports collapsed.

* Japan posts biggest deficit in decades:
The Japanese currency weakened after the Finance Ministry said the world’s second-biggest economy recorded a deficit of 172.8 billion yen ($1.76 billion), exceeding the estimate for a 15.3 billion yen shortfall.

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