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Currency Overview: Euro and Swissy Higher, Real and Dollar Lower

by on November 26, 2013 11:58 pm BST
 

The Japanese yen seen positive territory for the first time in the last couple sessions as the October monetary minutes from the Bank of Japan (BoJ) reported that board member Soto seen risks in the economy, and there doubts around meeting the central bank’s two percent inflation target may be more difficult to achieve.

The euro was higher against its peers as traders the European Central Bank (ECB) will likely to forego any additional easing over the next couple months. Rumors float that the ECB may turn to negative deposit rates, but nothing has been confirmed. Some ECB board members voice their opinion that negative rates are not the way to go.

Sterling traded higher against the dollar and climbed back above 1.6200 after falling to 1.6128. Traders still remain bullish in GPBUSD.

The Canadian dollar continues to decline after hitting a four-month low. The price of crude fluctuated heavily today and caused the loonie to decline against the dollar. “You’ll see the loonie react to news of the day, but the loonie is on its down trend,” said David Doyle, a strategist at Macquarie Capital Markets.

Swissy strengthened after the Swiss National Bank President Thomas Jordan mentioned that the cap on the Swiss franc was appropriate  given the euro zone’s weakness and the franc’s strength.

The Australian dollar continues to sink, and the dollar index declined almost .5 percent data after a serious of disappointing economic data out of the United States.

The Brazilian real fell .2 percent in speculation that the high court will rule against banks that may cost lenders $65 billion. The Indonesian rupiah also declined .2 percent as the Indonesian government sold dollar-denominated bonds.