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Canadian Dollar Slumps to Four-Week Low Ahead of BOC Rate Decision

The Canadian dollar weakened to a four-week low on Tuesday ahead of the Bank of Canada (BOC)’s decision on interest rates. The market is anticipating a prolonged pause to rate hikes, which suggests that officials are not confident that the economy can withstand a move to normalize monetary policy. Investors also traded the loonie on rallying energy prices, as well as data that showed nearly half of Canadians are on the brink of insolvency.

Euro Fails to Hold On to Gains on Resurgent US Dollar Demand

The euro today rallied to new highs in the early European session even as German bond yields hit new tops and the US dollar retreated. However, the EUR/USD currency pair proceeded to give up all its gains as the greenback rebounded amid rising US bond yields and Irish border concerns.

Euro Soft vs. Dollar, Strong vs. Yen

Various news from the United States made the euro weaker than the dollar, resulting in the third consecutive session of losses for the shared European currency today. At the same time, positive data from Germany allowed the euro to gain on the Japanese yen.

Confidence in the Euro Grows

Confidence in the euro is growing right now, as evidenced by the increased issuance of euro-denominated debt. With the news that the eurozone has returned to growth after 18 months of recession, and with the debt crisis seemingly under control, confidence in the euro is growing, and the 17-nation currency is getting a little help.

EUR/USD Closes Near Opening After Drop

The euro dropped against the US dollar amid concerns about the debt issue in the eurozone, but managed to rebound and closed near the opening. The currency rose against the Great Britain pound and weakened versus the Japanese yen.

Zloty Gains as Traders Expect Intervention from Central Bank

The Polish zloty advanced today, gaining for the third straight trading session, as Forex market participants expect the nation’s central bank to take actions to support the depreciating currency.

Euro Weakens as Investors Shun European Bonds

The euro fell against its major counterparts on Forex today, as the investors preferred not buy the government bonds of the semi-troubled EZ countries.

Risk Rally Pushes NZD to Records vs. Dollar

The New Zealand dollar reached a new historical maximum against its North American counterpart and grew against some other world currencies today, as the US debt ceiling agreement spurred demand for high-yielding assets.

Euro Slids for Second Day on Debt Crisis Concern

The euro fell against all of its major counterparts today, as the fear of the debt crisis spreading beyond Greece and other troubled countries of the Eurozone.

Yen Gains on Greece & US Debt Problems

The Japanese currency attracted FX traders’ funds today, as Greece may face a selective default rating from S&P, while the United States are still likely to face a technical default next Tuesday.

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