The following Forex news reports are the latest developments of the Forex market. The news reports are updated frequently and include all the events that affect the foreign exchange trading industry.
The Yen’s rising momentum seems finally to have faded, but before it did the Japanese currency briefly struck a 3-week peak against the U.S. Dollar, pushed higher by speculators who had hoped that exporters’ repatriations flows would give a bigger boost to the Yen.
The Japanese Yen firmed broadly earlier today but analysts believe it could still be under some buying pressure as Japan’s fiscal year end approaches.
As the fiscal year end approaches in Japan, the Yen inched higher versus the U.S. Dollar and broadly against other currencies, supported by Japanese exporters opening long positions in the currency.
The U.S. Dollar came under pressure again as Ben Bernanke, the head of the U.S. Federal Reserve Bank, signaled that monetary policy would continue to remain accommodative, giving rise to renewed hopes of more easing.
During the early Asian trading session, the U.S. Dollar recovered from a 10-day trough versus the Japanese Yen as Japanese importers used the pair’s dip to buy into the greenback.
As Tokyo-based importers took advantage of the earlier rally, the Japanese Yen saw some slight weakening during the Asian trading session but the newly raised concerns over global growth are likely to send investors back to safe haven currencies.
China’s Flash PMI data for February showed a surprising contraction, an event which pushed the Australian Dollar lower against the U.S. Dollar. Get today's news here!
Earlier in the Asian session, the Euro struck a 2-week peak against the U.S. Dollar as recent clearer signs of stabilization in the Eurozone helped to support the common currency.
The EUR/USD pair steadied at $1.3235, just off a 1-week high of $1.3266 struck yesterday, helped there by short selling of the U.S. Dollar following news that the ECB bought no sovereign debt last week.
The Japanese Yen was on the defensive during the Asian trading session as the common currency Euro reached a 5-month peak against it; as reported at 1:08 p.m. Get today's news here.
The U.S. Dollar slipped finally as profit taking slowed the recent rally, however analysts concur that the uptrend remains intact as the latest positive economic data more than supports the outlook.
The U.S. Dollar continues to strengthen broadly, this time touching on a 1-month peak versus the Euro and an 11-month peak versus the Japanese Yen.
The U.S. Dollar appreciated broadly in Asian trading today, with the greenback striking a multi-month peak against the Japanese Yen. Get the full news article here.
In today's news, after a two day Bank of Japan meeting, the US dollar hit an 11 month high against the Yen, with the Dollar Index hitting 79.981, which is also a 7 week high for the currency pair.
The U.S. Dollar touched on a 3-week high against the common currency during the Asian trading session, following Friday’s U.S. jobs report which was not only better than expected but revised upward the two previous months data.
