Monday, the Australian and the New Zealand dollars soared against most major currencies as a rise in Asian and European stocks boosted demand for higher-yielding currencies. Higher-yielding currencies such as the Australian and the New Zealand dollars tend to benefit when investors’ risk appetite rises, while funding currencies such as the low-yielding yen and dollar
The euro drifted lower against other major currencies during Friday’s early European deals as the regional stocks declined. The euro fell to a 1-week low against the franc and a 4-day low against the yen. European stocks fell,taking cues from overseas markets and mounting concern about the health of the U.S. economy ahead of second
The euro jumped above $1.31 for the first time since early May Thursday, supported by further evidence that the European economic situation is better than feared this spring. As the region’s credit crisis continued to ease, another round of encouraging economic data boosted the prospects for Eurozone growth. German unemployment dropped for a thirteenth consecutive
The dollar failed to fight back versus the euro and extended its lowest levels since February versus the sterling Wednesday amid renewed concerns about the pace of the US economic recovery. A disappointing reading on the manufacturing sector raised speculation that the US economy is losing momentum amid lingering weakness in the jobs and housing
The Japanese yen rallied across the board on Thursday morning in Asia as most Asian stocks are exhibiting weakness today, prompting traders to seek safe-haven currencies. The yen touched multi-day highs against most majors, barring pound and the Australian dollar. The yen advanced to a 6-day high of 62.88 against the New Zealand dollar by
