The Chinese yuan firmed against the U.S. dollar in the Asian session on Wednesday, as traders focus on the annual “U.S.-China Strategic Dialogue” in Beijing. At the two-day conference, the United States, led by Secretary of State John Kerry and Treasury Secretary Jack Lew, pushed China to liberalize the yuan exchange rate, complaining that China’s
The Australian dollar recovered from its early lows against the other major currencies in the Asian session on Tuesday following the release of a report showing an increase in Australia’s business sentiment in June. A survey by the National Australia Bank showed that Australian business confidence improved in June, although conditions remained sub-trend. The NAB
The Japanese yen strengthened against the other major currencies in the early European session on Friday as European stocks fell, after recent rally. The benchmark France CAC 40 is currently down 7.71 points or 0.17 percent at 4,482, the German DAX is down 7.05 points or 0.07 percent at 10,022 and the U.K. FTSE 100
The dollar continued its dramatic downtrend against the sterling on Tuesday, dropping to its lowest since 2008 after upbeat U.K. manufacturing data. Traders also expressed appetite for higher-yielding currencies after a strong report on Chinese factory activity signaled the pace of the global recovery is picking up. The dollar slipped near $1.72 versus the sterling,
The dollar hit new 5-year lows against the sterling and weakened versus other major rivals on Monday, still stung by last week’s dismal first quarter U.S. GDP reading. Traders are conflicted about what the huge 2.8 percent contraction in the U.S. economy means for monetary policy moving forward. Federal Reserve officials have said they expect
