The following Forex news reports are the latest developments of the Forex market. The news reports are updated frequently and include all the events that affect the foreign exchange trading industry.
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The Euro continues to trend lower as worries over Spain’s finances send investors to the safe haven currencies; as reported at 1:12 p.m. (JST) in Tokyo, the EUR/USD was trading at $1.2269, a drop of 0.1% but holding above the 2-year low struck last week on the EBS trading platform.
The Euro held steady against the U.S. Dollar during the Asian trading session but continues to be under pressure following relatively pessimistic comments made by Angela Merkel, the German Chancellor, which rekindled concerns of the debt crisis there.
On Tuesday, Ben Bernanke, the Federal Reserve Chairman, in an address to the U.S. Senate’s Banking Committee, left markets disappointed with his vague comments that gave no clear indication that additional easing for the struggling U.S. economy would be forthcoming.
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The Euro edged higher against the U.S. Dollar in Asian trading today as a spate of hedge fund buying triggered stop-losses.
The Euro steadied against the greenback in Asian trade as short-term focus is directed to Washington, D.C. where Federal Reserve head Ben Bernanke will be testifying before the U.S. Congress tomorrow.
The Euro continued to hold close to a 2-year low against the U.S. Dollar following Italy’s credit rating cut by Moody’s late yesterday.
The U.S. Dollar briefly rose against the Japanese Yen in the Asian trading session, following the Bank of Japan’s announcement that it would make no changes to its current monetary policy except for some minor tweaking to its asset purchase program.
The Euro continued to hold close to a 2-year low versus the U.S. Dollar as investors consider that the German court which is to decide on the legal usage of the Eurozone Stability Mechanism won’t rule in favor of broader implementation.
As analyst had expected and as markets had feared, the E.U. finance ministers meeting yielded no definitive outcome and highlighted only the shortcomings of the most recent summit.
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In the Asian session, the Euro had earlier dropped to 2-year trough against the U.S. Dollar, but has since steadied and halted the downtrend.
Yesterday, the European Central Bank did as analysts expected it would and announced a 25 basis points rate cut of their benchmark lending rate; markets had been hopeful that the central bank would offer more though, and were disappointed as a result.
The Euro and the Pound Sterling are both under pressure as investors speculate that the European Central Bank and the Bank of England will take up a more accommodative stance later today.
The common currency edged lower against the greenback in Asian trading on Wednesday as investors speculate that the European Central Bank will take a more dovish stance at their rate setting meeting tomorrow.
Both the U.S. Dollar and the Euro slipped in Asian trade as dismal economic data raised investors’ expectations of a more accommodative stance from both the Federal Reserve and the European Central Bank.
The Euro slipped in Asian trading today, giving up some of the gains made on Friday, which wound up being the largest single day rally in nearly eight months and attributed primarily to the euphoria following positive news from the E.U. Summit.