Archive for April, 2013

Euro up after Italy ends political chaos; ECB awaited

by Forex Rooton April 30, 2013 6:41 am GMT
The euro rose against the dollar and yen on Monday after Italy finally formed a government, ending two months of political uncertainty, but further gains may be limited given expectations the European Central Bank will cut interest rates this week. Italy’s new prime minister, centre-left politician Enrico Letta, named a coalition government on Saturday, a […]

Dollar falls broadly after U.S. GDP disappoints

by Forex Rooton April 29, 2013 5:20 am GMT
The dollar fell broadly and sterling hit a two-month high on Monday, as traders continued to reduce their exposure to the greenback after data last week showed the U.S. economy grew at a slower-than-expected pace in the first quarter. The dollar declined against a swathe of currencies and dropped 0.4 percent versus the yen to […]

Euro bounces back from Ifo -inspired lows on shortcovering

by Forex Rooton April 25, 2013 6:05 am GMT
The euro bounced back against the dollar and yen in Asian trading on Thursday, as investors covered some short positions taken in the wake of disappointing German data. The Munich-based Ifo think tank’s survey of German business sentiment showed its second straight monthly drop in April. That heightened fears about the outlook for the euro […]

Yen pushes higher as Aussie falls on China growth concerns

by Forex Rooton April 23, 2013 6:02 am GMT
The yen rose broadly and the Australian dollar hit a six-week low on Tuesday as a weak reading on the Chinese manufacturing sector stirred worries about the health of the global economy. The Australian dollar touched a low of $1.0222 (6698 pence) as of 0337 GMT, its lowest level since March 11, and last changed […]