Swedish Krona Down on Central Bank Surprise
The Swedish krona lost against the euro and the dollar today after the nation’s central bank unexpectedly cut its benchmark interest rate and stated that the recession is deeper than predicted.
China’s Confidence on Dollar Pushes Greenback Up
The U.S. dollar climbed today after a Chinese Foreign Ministry official stated that the believes in the stability of the greenback, and informed that he is unaware of discussions next week during the G8 meeting regarding eventual substitutes for the dollar as the world main reserve currency.
Polish Zloty Hits 6-Month High Against Euro
The Polish currency hit a six-month record versus the euro, after getting a World Bank loan to rescue the country from one of the most severe recessions among the European Union bloc members
Mexican Peso Rises on U.S. Manufacturing Numbers
The Mexican peso had a positive performance today as U.S. manufacturing shrank at a slower pace, adding confidence that the U.S. recession might be ending.
Brazil’s Real Gains on Former Central Banker Comments
The Brazilian Real, which posted the best quarterly performance since it was introduced 15 years ago, is set to prolong its rally, as former central banker bets on the South American economy ability to rebound quickly, spurring demand for the national currency.
Yen Enter Second Week of Losses as China Fuels Risk Appetite
The yen declined to a two-week low against the euro and lost versus several other currencies as a report in China indicated an increase in manufacturing, helping investors to be confident to purchase high-yielding assets throughout the world.
Hungarian Forint Climbs on Tax Cuts
The Hungarian forint, which suffered severe losses as its country plunged in one of the deepest recessions among the European Union member nations, reached a six-month high after the Hungarian tax system will change in order to stimulate the country’s agonizing economy.
Pound Hits 8-Month High Against Dollar on Improved Economic Data
The British currency, which was failing to climb versus its main rivals, the euro and the dollar, posted significant gains in the beginning of this week as improved economic data emerged in the latest British reports.
Australian Dollar Down After Chinese Comments
The Australian dollar, often referred as the Aussie, fell for the first time in 5 days against the U.S. dollar and other currencies after China’s comments indicating that the greenback will continue to be the main world reserve currency, damping demand for the Australian dollar high-yielding profile.