The yen strengthened across the board on Thursday morning in Asia as a weaker-than-expected Australian trade surplus data prompted traders to seek safe-haven Japanese currency. Australia’s trade surplus narrowed to a seasonally adjusted A$1.9 billion in July from A$3.4 billion in June, the Australian Bureau of Statistics said today. That is considerably lower than analyst
The dollar dropped versus the euro and tested a fresh 15-year low versus the yen on Wednesday as economic data signaled worries of a global double-dip may have been overstated. Strong manufacturing data from the US and China fueled increased risk appetite, driving stocks higher and the safe haven dollar sharply lower. Adding to the
The dollar hit the skids versus the euro and most other majors on Wednesday as global equities snapped out of their recent funk. Encouraging data from China helped drive Asian stocks sharply higher, and European shares followed suit, fueling increased risk appetite. US stock futures are also pointing to significant gains at the opening bell.
The New Zealand dollar lost ground against its major rivals on Tuesday morning in Asia as a slide in Asian stocks reduced demand for higher-yielding currencies. Most Asian stocks opened weak today following a negative lead from Wall Street, where stocks declined sharply overnight amid doubts about the sustainability of economic recovery. As of 10:30
The euro was generally stronger on Friday, as US stocks rebounded following comments from Federal Reserve Chairman Ben Bernanke. While the nation’s top central banker provided no specifics, he said the Federal Reserve stands ready to provide further stimulus if the economic situation deteriorates rapidly. The US economic recovery has petered out in the last
