Currencies Today

The US dollar is mixed with a downside bias today. It is losing ground against the euro and sterling, but is trading higher against the Japanese yen. With new assurances over the weekend, the fear of the politicization of the Federal Reserve and Chairman Bernanke’s re-confirmation has eased and risk averseness is waning. The yen may also be pressured by speculation that the BOJ may extend either its emergency lending (amount and/or duration) to banks or purchase more JGBs as early as tomorrow at the conclusion of its policy meeting. Ideas that the RBA is poised to hike rates next week has helped the Australian dollar recoup some of its recent losses, though a local holiday tomorrow could see interest wane.
Currencies Today Currencies Today Reviewed by magonomics on January 25, 2010 Rating: 5
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