News Tag: dollar
March 2, 2010
Growing fears over the debt crisis in Greece continue to weaken the value of the euro and it sank further today to 1.3436 dollars - a level not seen since May 2009.
Greece is currently taking action to reduce its public deficit from 12% to 8% of GDP this year.
The country currently has the highest debt of the 16-member euro zone ...
Euro slumps to nine-month low against dollar
by Kay Murchie
March 1, 2010
The pound plummeted to a 10-month low today over fears of a possible hung parliament in the forthcoming election.
Sterling lost 1.6% and dipped below $1.50 for the first time since May 2009 - it has already lost 7% against the dollar this year.
The pound also lost ground against the euro and many other major currencies.
A Sunday ...
Sterling dives to 10-month low amid election fears
by Kay Murchie
February 2, 2010
The Reserve Bank of Australia (RBA) has stunned the markets by electing to keep interest rates on hold at 3.75%.
The RBA has increased interest rates three times since October and many analysts said interest rates could hit 4.25% in the short-term.
Australia is one of the few developed economies not to have fallen into recession like its counterparts throughout the world.
The economy ...
Australia surprises with interest rate freeze
by Kay Murchie
January 26, 2010
The pound fell this morning after quarter four GDP figures were weaker than expected.
While official figures showed that the UK has finally emerged from recession in the fourth quarter, the economy only grew 0.1% - an expansion of 0.4% had been expected.
The pound fell to $1.614 against the US dollar - a fall of 0.6%, while it declined to 1.146 euros. ...
Pound falls on disappointing GDP figures
by Kay Murchie
December 16, 2009
The US economy received a boost today after the Commerce Department revealed a rise in housing starts for the month of October, recovering from the slump in September.
According to the Commerce Department, construction of new US homes surged 8.9% during the month to a seasonally adjusted annual rate of 574,000 properties.
The figure was in line with market expectations and suggests ...
US housing starts and producer prices up
by Kay Murchie
November 30, 2009
Last week, the US dollar continued its fall against the Japanese yen, sliding to a 14-year low.
The falls led to Japan’s finance minister, Hirohisa Fujii, to say that the Government is monitoring the yen but did not suggest immediate intervention.
While a strong yen is good news for the economy, it makes Japanese exports less competitive - but means imports are ...
Japanese yen falls after Minister’s comments
by Kay Murchie
November 23, 2009
The price of gold continues to rise after reaching an all-time high today of $1,167.35 an ounce.
Spot gold was bid at $1,165.55 an ounce at 0800 GMT, against $1,148.20 late in New York last Friday.
US gold futures for December delivery on the COMEX division of the New York Mercantile Exchange gained $19.20 to $1,166.00 an ounce.
Increasing demand from emerging markets has ...
Gold soars to all-time high
by Kay Murchie
November 12, 2009
Australia's economy, which is one of the few not to have fallen into recession like its counterparts throughout the world, created more jobs than expected in October, sending the Australian dollar to a 15-month high.
Employment within the economy rose 24,500 during the month - the second month of growth.
According to Rob Henderson, head of market economics ...
Australian dollar soars to 15-month high amid job news
by Kay Murchie
November 10, 2009
Over the weekend, G20 finance ministers at St Andrews in Fife reached an agreement to maintain financial support until recovery is ensured.
The agreement was reached following concerns over rising unemployment and unsteady growth which saw finance ministers from developing and rich countries vow to keep fiscal measures in place until global recovery is assured.
The International Monetary Fund (IMF) also believes that ...
G20 agreement sees shares rise
by Kay Murchie
October 9, 2009
US Federal Reserve Chairman Ben Bernanke told a press conference at the Fed's Washington headquarters yesterday that monetary policy will need to be tightened when the economy recovers in order “to prevent the emergence of an inflation problem down the road."
Following the press conference, many analysts said the Fed chairman is suggesting that the US is gradually but steadily exiting from ...
Fed chief comments boost dollar
by Kay Murchie
October 8, 2009
The price of gold reached $1,058 (£659.20) an ounce on the London Bullion Market yesterday - its third consecutive day of gains.
A weak US dollar continues to make gold an attractive buy for investors, according to analysts.
Furthermore, the price of the precious metal could continue to rise if the dollar remains weak. Traditionally, the US dollar moves in the opposite ...
Gold continues to rise as dollar falls
by Kay Murchie
September 28, 2009
The yen hit 88.23 against the dollar today - the highest level since January when the currency hit a 13-year high of 87.10 per dollar.
However, while a strong yen is good news for the economy, it makes Japanese exports less competitive - but means imports are more affordable to Japanese consumers.
Earlier this month, BoJ Governor, Masaaki Shirakawa, said: “To give ...
Yen reaches eight-month high against dollar
by Kay Murchie
September 25, 2009
Sterling fell this morning to a near four-month low to $1.5917 against the US dollar before creeping back up to $1.5989.
The level was the lowest seen since early June after G20 leaders said stimulus packages will remain until a recovery is sustainable.
However, the pound is still currently higher than the low levels of below $1.50 seen ...
Dollar receives a boost after 1st day of G20 summit
by Kay Murchie
September 21, 2009
A warning from the Bank of England about the UK’s debt levels has sent sterling plummeting to a five-month low against the euro. The pound dropped as low as €1.1016 - the lowest level since April
In the meantime, the pound dropped as low as $1.6134 - its lowest against the US Dollar in almost three weeks. ...
Pound falls to five-month euro low following Bank’s Quarterly Bulletin
by Kay Murchie
August 4, 2009
There are tentative signs that the construction sector is recovering after figures today revealed that the slowdown in activity eased in July to the slowest pace for sixteen months.
The CIPS/Markit Construction Purchasing Managers’ Index posted a reading of 47 in July, edging closer to the 50 mark which indicates growth.
The index is up from the 44.5 recorded in June ...
Construction sector shows tentative signs of recovery
by Kay Murchie
Sterling hits 10-month high
by Kay Murchie
August 3, 2009
Sterling and the FTSE 100 index of leading shares both rose today on the back of growing hopes for an economic recovery.
The FTSE jumped by 76.85 points to 4,685.21 - the highest level since October with Barclays and HSBC leading the banking sector after reporting first half profits earlier today.
Meanwhile, sterling climbed to $1.6879 against the dollar and also hit ...
Recovery hopes lift sterling and FTSE 100
by Kay Murchie
June 11, 2009
With suggestions that the UK recession may be coming to an end, sterling hit a 2009 high against the euro today.
According to Reuters, sterling rose to 85.10 pence against the euro - its best performance since December.
Sterling was also up against the US dollar, rising one cent to $1.6429.
Sterling has been boosted by a number ...
Pound hits 2009 high against euro as good news filters through economy
by Kay Murchie
April 27, 2009
Stockmarkets have been hit today by the outbreak of swine flu in Mexico sending airline and travel stocks plummeting while pharmaceutical companies including GlaxoSmithKline, AstraZeneca, Shire and Smith & Nephew have soared.
In London, the FTSE 100 index was down 60 points in early trading with the biggest losers including TUI, British Airways and Thomas Cook.
Germany's Dax lost 1.6%, while ...
Stockmarkets hit by swine flu outbreak
by Kay Murchie
April 15, 2009
Sterling rose to its highest level against the US dollar today in three months after the Royal Institution of Chartered Surveyors (Rics) announced that housing market activity is picking up after new enquiries increased for the fifth month in a row.
At one point, sterling reached as high as $1.5037 and also hit a six-week high ...
Sterling gets a much-needed boost after good news in the housing market
by Kay Murchie
