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.
Euro:
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.
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.
Euro:
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.
