18th May 2010
The euro slipped further against the US dollar during Tuesday mornings trading session, nearing a four year low as concerns over the euro zone debt crisis continues. Traders await the news from a meeting, taking place later today between euro zone finance ministers, which is likely to provide more details of the trillion dollar bailout plan to prevent Greece’s debt problems affecting other European countries.
During the session, the euro fell as low as $1.2315 hovering just above the four year low of $1.2234 hit in April 2006, before steadying and rising to $1.2400 by the end of the session. The euro was also under pressure after news that the US Senate voted for its government to oppose the IMF bailout to countries that are unlikely to be able to repay them.
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13th May 2010
The euro fell to a one week low against the US dollar and fell dramatically against the Swiss franc as investors steered away from the euro currency over concerns that fiscal tightening would lead to slower European growth.
During the New York trading session, the euro fell 0.6% against the US dollar and 0.9% against the yen, ending the session at $1.2542 and 116.53 yen respectively. The euro also hit a record low against the Swiss franc, ending a torid New York trading session at 1.3997 francs.
Elsewhere, the Australian dollar rose 0.4% against the US dollar and sterling fell by 0.9% against the US dollar after data showed that the deficit had widened more than expected during March.
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10th May 2010
Sterling continued to rise against the US dollar during Monday’s trading, after the Bank of England announced that it was keeping interest rates at their record low and Nick Clegg released a statement saying that decisions on power sharing talks would be concluded “as soon as possible”.
The Bank of England announced earlier in the day that its interest rate would be kept at 0.5%; the Monetary Policy Committee also announced that the limit on quantitative easing would say at £200bn.
Sterling rose by 1.3% against the US dollar during Monday trading, ending the session at 1.5008, a 2 day high and surged against the yen ending the session at 139.96 yen, a 3.1% increase.
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7th May 2010
The euro regained some ground on the yen and us dollar during Friday’s trading session after hitting a 14 month low against the greenback and its lowest position since December 2001 against the yen during Thursday’s volatile trade.
The euro rose 1 percent against the dollar and 3 percent against the yen, finishing the session $1.2790 and 118.20 yen respectively.
Meanwhile, sterling hit a one year low against the US dollar and dropped considerably against the euro as preliminary results of the UK election showed that no party would have a majority and there would be a hung parliament. The Conservatives won the most seats during the election results, but could not get enough to gain the majority.
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28th April 2010
The euro steadied on Wednesday after hitting a 1 year low against the US dollar on Tuesday after investors sold the struggling European currency over concerns that Greece and Portugal’s credit ratings had been downgraded.
The euro held firm at $1.3167 during the Asian session after falling 1.5% and hitting a low of $1.3144 the previous day when it looked like it was tumbling towards $1.29, but analysts predict further falls over the coming days.
The downgrade of Greece’s credit rating has increased traders concerns about whether Greece can finance its debts, which could undermine the credibility of the euro leading to further falls.
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26th April 2010
The sterling rose against the greenback during the European trade this afternoon as traders are buoyed by optimism that the UK election will result in a government formation sturdy enough to tackle Britain’s debt deficit.
Sterling hit 1.5482 before the start of the US trading session a seven-day high, before steadying at 1.5476 a rise of 0.64 percent on the day. The rise came after opinion polls over the weekend suggested that the Conservatives had shored up their lead after the second televised debate last week.
The pound also rose against the euro and yen, pushing the European currency down 0.99 percent to 0.862 and rising 0.91 percent against the yen, ending the session at 145.82.
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21st April 2010
The Canadian dollar continued to rise on Wednesday after the Bank of Canada signalled that interest rates could rise as early as June. The Canadian dollar has seen a big rise against the yen, up nearly 11% since late February and gained another 0.3% during the session, ending at 93.62 yen.
The US dollar also saw a sizeable fall against the Canadian dollar, down 0.5% on the day and finishing at its lowest level since June 2008.
Elsewhere the Australian dollar, boosted by a 1.7% gain against the yen on Tuesday continued rising, ending the session at 86.97 yen, while the euro struggled to make up any ground, ending at 125.28 yen with almost no movement.
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19th April 2010
The yen fell against a host of major currencies on Monday as investors stayed away from riskier currencies after Chinese shares suffered their largest percentage loss since August 2009. The yen fell 0.3 percent against the US dollar ending the New York session on 92.64 after giving up 0.3 percent the previous day as well.
The euro has seen a rise over the past day or so, also ending the session 0.3 percent up over the yen at 124.94 recovering from the three-week low of 123.15 hit earlier that day.
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16th April 2010
The dollar rose against the euro today, as investors voice their concern over how Greece will service its debt. On Thursday Greece asked for talks with the International Monetary Fund to help with the aid plan agreed at the weekend, but concerns remain on how the plan will be implemented.
The euro fell by 0.6% against the dollar on Friday, ending the session at $1.3497 and only slightly above the one-week low of $1.3490 posted earlier this week. The euro also fell 0.9% against the yen to 125.13, while the yen was slightly up against the dollar, ending 0.3% up.
Elsewhere, Sterling fell 0.6% against the dollar as concerns that the May 6th UK election could result in no party winning a majority after the Liberal Democrat leader Nick Clegg won a TV debate on Thursday.
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5th February 2010
The euro rose off 15-month lows today as the Swiss National Bank sold francs for euros during Asian trading. The euro has been under pressure for the last month hitting lows against a host of major currencies, but took a swift leap as the SNB stepped in.
The euro rose 0.6% against the franc to 1.4730 and ended the session slightly up against the dollar at $1.3711. The euro also rose 0.5% against the yen to 122.91 after hitting a month low of 121.57 last night.
Elsewhere the Australian and New Zealand dollars edged up against the US dollar after hitting four and five month lows yesterday, with the Australian dollar also climbing 1% against the yen. The US dollar rose 0.7% against the franc and 0.7% against the yen to 1.0738 and 89.70 respectively.
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