The dollar was little changed on Friday despite a flurry of economic news from the U.S., as a sense of calm returned to the markets following dramatic volatility earlier in the week. The buck held up relatively well amid a dizzying array of news this week, rebounding from record lows against the Swiss franc and
Friday, the People’s Bank of China set the central parity rate for the yuan at a fresh record high of 6.3972 against the U.S. dollar, compared to Thursday’s daily reference rate of 6.3991. The Chinese central bank sets the central parity rate every morning and allows the currency to strengthen or weaken 0.5 percent from
The Japanese yen rallied across the board on Wednesday morning in New York as lingering concerns about the health of the global economy propelled risk-averse traders to seek safe-haven yen. Debt problems on both sides of the Atlantic have spooked the markets in recent weeks and traders have been seeking safer assets since the U.S.
The dollar withstood a downgrade of U.S. debt on Monday, as traders flocked to the relative safety of the world’s de facto reserve currency. Gold prices surged above $1700 an ounce to its highest ever, boosted by its safe haven appeal. Conversely, equity markets were bludgeoned around the world amid mounting fears of another global
Friday, the Canadian dollar edged higher after exhibiting steep losses in the previous session as crude oil recouped its early morning losses amid a firm employment report in the U.S. Although the price of crude oil was extending losses in the morning amid risk aversion on global growth concerns, it trimmed losses following the better-than
