After having hit a high at 1.4201 yesterday on reports the Vice-finance minister of China wasn’t aware of his government’s request to discuss use of the IMF’s SDR as an alternative. This doesn’t come as a surprise on the part of the Chinese government as we all know they are the largest holders of foreign exchange reserves and U.S Treasuries and have been very vocal about the massive spending on...
The Canadian dollar fell against the U.S. currency on Tuesday as lower U.S. consumer confidence data for June dampened hopes for an early economic recovery, and pushed the market toward safer havens. Sterling reached an eight-month high against the dollar on Tuesday due to surprisingly strong UK house price data, but its gains fizzled out after a moderating decline in U.S. home prices which later...
The Yen slipped across the board on monday due to higher oil price, gains in share prices and a better-than-expected sentiment in the euro-zone which boosted hopes of a global recovery, helping investor risk appetite. Investors seem to feel more confident these days and risky assets are bid again. The EUR carried on the trend set in London with continued buying versus the USD, consolidating on...
