The euro steadied on Tuesday, underpinned by speculation the European Central Bank will tighten monetary policy despite lingering weakness on the fringes of the euro zone. In the absence of bad news on the region’s sovereign debt crisis, the single currency was able to take back a small portion of its losses from the previous
The Japanese yen strengthened across the board on Monday morning in New York as investors flee from riskier-assets and seek the perceived safe-haven yen after the credit rating agency Standard & Poor’s cut its ratings outlook on the U.S. to negative from stable. While S&P kept its Triple-A rating on the world’s largest economy, the
In the Asian session on Tuesday, the Australian and the New Zealand dollars declined against their most major counterparts as stocks fell following a downgrade of the U.S. debt outlook by Standard & Poor’s. Standard & Poor’s cut its ratings outlook on the U.S. to negative from stable on Monday, putting further pressure on policy
The Chinese yuan that rose to a 4-day high of 6.5285 against the U.S. dollar in Tuesday’s early Asian deals has moved off slightly shortly thereafter. The Chinese yuan is presently trading at 6.5315 against the greenback, compared to Monday’s close of 6.5298. In economic news, China’s manufacturing sector expanded at a steady pace in
During New York morning trading on Thursday, the Japanese yen traded higher against major opponents as some risk-aversion sentiments began after a tsunami warning has issued by the Japan Meteorological Agency following a fresh earthquake of a 7.4 magnitude hit the country’s northeastern coast. The quake struck at a depth of about 40 kilometers underwater
