Market News

The Japanese Yen was broadly and sharply higher following a significant fall in Japan’s stock market which sent investors scurrying for the safe haven currency. On the flip side, higher risk commodity-linked currencies, especially the growth-linked Australian Dollar, were facing renewed pressure as the growing possibility of a global slowdown confronts investors.

The AUD/USD pair fell to a session low of $0.9605 and was closing in on the 19-month low struck last month and currency strategists believe that the Aussie’s downward trend needs overwhelmingly positive news in order to halt it.

The U.S. Dollar Index edged higher off of a recently struck 1-month low which came as a result of still more disappointing economic data which supported a continuation of the Federal Reserve’s existing monetary policy.

The Australian Dollar eased back from previous highs against the greenback after the latest data from China dampened investors’ optimism of improvement for the second largest economy in the world.

The U.S. Dollar continued to hold close to a 3-week trough versus the common currency Euro following the release of data which suggested that the U.S. economic recovery isn’t as robust as previously thought and likely to lead to the Federal Reserve Bank to continue with its current ultra loose monetary policy.

The U.S. Dollar was facing steady pressure against the Japanese Yen after slipping more than 1% on Wednesday on renewed expectations that Fed stimulus measures might not be withdrawn in the short term.

The U.S. Dollar rallied broadly following stronger than expected economic data from the U.S. which bolstered investors’ expectations of the Federal Reserve’s pull back of some of its stimulus measures over the course of the next several months.

The Japanese Yen relinquished some of its previous gains during Tuesday’s Asian trading session as wary forex traders monitored the Japanese stock market for additional declines which were likely to impact the Yen.

The U.S. Dollar took a beating last week, against the safe haven Japanese Yen the greenback recorded its worst single week in more than a year. On Friday

With investors already skittish from Ben Bernanke’s testimony about the timeline for the scaling back of the Fed’s QE program, a rout in global equities which began in Japan and ended in Europe helped send the U.S.

The U.S. Dollar firmed on Wednesday following comments made by the Federal Reserve chairman who said that for the time being the existing monetary policy would be unchanged

The U.S. Dollar traded lower versus the Japanese Yen and moving well away from the recently struck 4½ year peak following comments made by two Federal Reserve officials who took the position that the Fed would likely maintain the status quo and not deviate from its current ultra loose policy despite some signs of economic improvement.

The U.S. Dollar weakened across the board as investors await clues from the Federal Reserve Bank as to whether or not it will continue with its ultra loose monetary policy or begin to set the stage for tightening.

The Japanese Yen edged higher and moved away from a recently struck 4½ year trough versus its main rival the U.S. Dollar following comments made by the country’s economy minister who hinted at the government’s possible satisfaction wit the Yen’s current price level.

In spite of excessive volatility following comments from one of the U.S. Federal Reserve governors who hinted at an end to the Fed’s easing measures later this year, the U.S. Dollar was able to recover and move higher versus the common currency Euro and Japanese Yen once again