Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Forex News
Dollar, Yen Weaken as RBA Rate Decision Boosts Demand for Yield
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Enivid, post: 944, member: 1"] The dollar and the yen weakened after Australia’s central bank unexpectedly halted its most aggressive round of interest-rate cuts, boosting demand for higher-yielding assets. The U.S. and Japanese currencies also snapped two days of gains versus the euro as Asian shares pared losses and U.S. stock futures climbed, increasing confidence among investors to resume so-called carry trades. Currencies of economies with higher relative interest rates, such as Australia, New Zealand, China and the Philippines, all strengthened. Demand for the greenback waned after the World Bank said the worst of the global financial crisis has passed. “Investors have no alternative but to look abroad because their domestic rates aren’t high,” said Akifumi Uchida, deputy general manager of the marketing unit in Tokyo at Sumitomo Trust & Banking Co., Japan’s fifth-largest bank. “Recently, some appear to be buying assets in Asia as the performance of those assets is relatively good.” The dollar declined to $1.2634 per euro as of 7:51 a.m. in London from $1.2578 late in New York yesterday. The yen dropped to 123.40 per euro from 122.58. The U.S. currency traded at 97.66 yen from 97.45 yen. Australia’s currency rose 1.9 percent to 64.19 U.S. cents and advanced 2.1 percent to 62.66 yen from late in New York yesterday. New Zealand’s dollar climbed 1.2 percent to 49.84 cents and added 1.4 percent to 48.66 yen. China’s yuan rose 0.3 percent to 14.27 yen and the Philippine peso climbed 0.4 percent to 2 yen. From [URL="http://www.bloomberg.com/apps/news?pid=20601083&sid=agDVjy7SAZPU&refer=currency"]Bloomberg News[/URL]. [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…