At 0420 BST today, the GBP is trading 0.1% lower against the USD at $1.6721, marginally down against the EUR at €1.1158 and 0.5% weaker against the JPY at ¥149.43.
The EUR is trading 0.1% lower against the USD at $1.4981. US Treasury Secretary, Timothy Geithner, stated that a strong dollar was in the country’s interest. European Central Bank council member, Yves Mersch, mentioned that the central bank may raise its economic growth forecast for the Eurozone in December.
The JPY is trading 0.4% higher against the EUR at ¥133.86, after the rise in Japanese machine orders exceeded market expectations, boosting the demand for Japan’s assets.
The AUD is trading lower against the USD, as new loans issued by Chinese banks dropped to their lowest monthly level this year in October. The NZD is trading lower against the USD, after the New Zealand central bank Governor, Alan Bollard, warned that “significant” gains in the currency were likely to be unsustainable.
Chile’s Peso traded near a 15-month high level against the USD, after a central bank survey projected that the economy may expand 4.4% in 2010. Taiwan’s dollar is trading lower against the USD, after the financial regulator banned foreign investors from placing funds in time deposits to prevent currency speculation.
Yesterday, the GBP ended lower against the USD, after Fitch Ratings warned that the UK’s sovereign credit rating is most at risk among top-rated nations. The GBP pared its losses, after the Department for Communities and Local Government stated that UK house prices rose 1.2% in September month-on-month.
Posted by Ultimate Forex Profits
