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Swiss Franc Rallies on Slew of Bad News, Loses Gains Later

The Swiss franc rallied today amid the negative sentiment among investors. The franc is considered a safe currency, meaning that traders prefer to buy it in times of fear and uncertainty. And on Tuesday, there were plenty of news to spook speculators. Currently, though, the Swissie has lost its gains against most other rivals.

Japanese Yen Mixed After Fitch Maintains Credit Rating

The Japanese yen was mixed today after Fitch Rating maintained Japan’s sovereign credit rating. The forecasts made by the agency were not all good, though.

Euro Weak as Clash Between Italy & EU Continues

The euro was weak against most of its major currencies today due to the clash between Italy and the European Union over Italy’s budget deficit target. The shared 19-nation currency managed to gain on the Great Britain pound, which was also extremely weak due to Brexit concerns.

Turkish Lira Extends Decline on Monday

The Turkish lira continued to fall today after halting its recovery last week. For now, it looks like the decline did not affect other currencies.

South African Rand Jumps More Than 2%

The South African rand jumped more than 2% versus the US dollar today after plunging 2% on Friday. The rand reached the highest level in a month and demonstrated the biggest jump in more than eight months. The moves of the currency was a reaction to decisions of rating agencies.

Australian Dollar Steady Following China’s Rating Downgrade by S&P

The Australian dollar gained on its US counterpart today. The currency slid against other rivals intraday but is has bounced by now. Yesterday, the Aussie dropped more than 1% following China’s credit rating downgrade by Standard & Poor’s.

Chinese Yuan Stable During Friday’s Calm Trading

The Chinese yuan was flat versus the US dollar during the Friday’s calm trading session as traders were waiting for economic releases from the United States.

Chinese Yuan Falls After Moody’s Downgrade, Recovers

The Chinese yuan slipped against the US dollar today (though it has trimmed the losses by now) after Moody’s Investor Service made a surprise cut of China’s credit rating for the first time in almost three decades.

Loonie Weakens After Moody’s Downgrades Canada’s Banks

The Canadian dollar traded lower against its major counterparts today as the credit rating downgrade of six Canadian banks by Moody’s Investors Service damaged the attractiveness of the currency to investors.

South African Rand Bounces After Intraday Drop

The South African rand fell during the current trading session but has bounced versus the US dollar by now. The drop was a result of the sovereign credit rating downgrade by Standard & Poor’s.

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