Subscribe To Our Newsletter
loading Page Loading...
Foreign Exchange Rates

The Euro has plunged over 1% lower today as of 1pm(C) a 4-year low against the US Dollar, on the news that German regulators have banned the strategy of "Naked" short selling (selling outright while not owning). On April 27th the S&P downgraded Greece's BBB+ rating to junk status. Many regulators fear that continued short selling would drastically hurt Greece's recovery. The ban on short selling also applies to Credit Default Swaps and Euro Govn't bonds and goes into effect at Midnight in "Frankfurt". The Euro/USD is currently trading at its day low of 1.2250 per USD. The Dollar Index (DX) which is the US dollar measured against a basket of other currencies is trading just under .8700 Cents up +.0580. Experts are proclaiming that after May 6th's Huge selloff, there is still much fear left in these market's and expect the Euro to fall to even lower levels. | 4-8-2010 The Bank of Japan (BOJ).1% Bank of England (BOE).5% and the European Central Bank (ECB).1% are expected to keep they're key interest rates at these record lows. The comments made by all these central bank presidents seem to indicate that they are seeing moderate improvemnets in each economy retail sales and overall growth in GDP. The bank presidents all say that inflation seems to be under control and there should be NO rate hikes in any countries near future. The EUR/USD came off lows from 1.32 on comments that the EU will not let Greece default on loans and will pledge 22 Billion Euro's and use the IMF as a last resort. The EUR/USD closed today at just under 1.35 the GBP/USD also closed higher but just under 1.54 per US dollar and the USD/JPY closed at 93.15, and the EUR/GBP seems to have made support at .8700 closing today at .8775 | March 2nd, 2010 The (BOC) Bank of Canada announced that it would leave its key deposit rate at a historical low of .25%. This fueled a rally in the CAD$ futures from .9602 to a close of .9653. On March 12th, the better than expected CAD unemployment number ADDED 21,900 jobs that also drove the CAD$ (June) futures price to its highest level this year at .9848. The unemployment surprise has also fueled speculation that the BOC might raise its key rate on its next April 20th, 2010 meeting. The BOC had previously pledged to keep its target rate in place until the end of June. The USD/CAD exchange rate today closed at 1.0196.

Foreign Exchange Rate Canada / U.S.  [60] Foreign Exchange Rate- Euros/ USD [578]
Foreign Exchange Rate Japan / U.S.  [72] Foreign Exchange Rate- U.K. Pound/ USD [579]

Leave a Comment
First Name *
Last Name
Email *   Your email will not be published or shared.
Enter the code shown *

Comment *
Insert URL
* denotes required field