News Tag: US dollar
March 15, 2010
Wen Jiabao, China’s Premier, has denied his Government is keeping the yuan undervalued after lawmakers and economists said it is hampering a global recovery.
Mr Wen argued keeping the yuan stable was "an important contribution" to global recovery and said: “We oppose countries pointing fingers at each other and even forcing a country to appreciate its currency.”
Speaking at the ...
China argues stable yuan contributes to global recovery
by Kay Murchie
February 1, 2010
The latest quarterly SME Trends Survey by the CBI has found that small and medium-sized manufacturers are starting to stabilise after seven quarters of decline.
According to the business body, manufacturers are starting to benefit from the weakness of the pound, which has fallen slightly against the US dollar over the last few months.
The survey found that 27% of respondents experienced ...
Small manufacturers benefit from weak pound
by Kay Murchie
January 7, 2010
Naoto Kan, Japan's newly appointed finance minister, is calling for a weaker yen after the Japanese currency continues to gain strength against the US dollar.
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. Exports are a key to the economy‘s recovery.
Kan’s predecessor, ...
Currency intervention may be required in Japan
by Kay Murchie
December 6, 2009
The price of gold has ended its run of all-time highs after positive economic US data sent the dollar higher.
On Friday, the Labor Department revealed that the US economy lost fewer jobs in November with the unemployment rate falling to 10% from a rate of 10.2% in October.
Figures show that US employers cut the lowest number of jobs during the month ...
Dollar strengthens, price of gold falls
by Kay Murchie
December 2, 2009
The price of gold continues to surge to record highs and has touched $1,201.63 an ounce on the London Bullion Market as the US dollar continues to be a turn off for investors.
The rise of the price of gold over recent weeks has been attributed to a weakening US dollar, which typically moves in the opposite direction to ...
Gold continues to soar on back of weak dollar
by Kay Murchie
November 27, 2009
The US dollar continued its slide today against the Japanese yen, falling to a 14-year low.
The greenback dipped to 84 yen - its lowest level since 1995, due in part to the Federal Reserve indicating that US interest rates will remain low.
Earlier this week, Yutaka Miura at Mizuho Securities said: “This yen strengthening is caused by dollar selling rather ...
Currency intervention may be required by Japanese Government
by Kay Murchie
November 26, 2009
Historically low interest rates in the US is making the dollar unappealing to investors sending the US currency to a 14-year low against the Japanese yen.
The greenback has dipped to 86.5 yen - its lowest level since July 7, 1995, due in part to the Federal Reserve indicating that US interest rates will remain low.
The US currency ...
US dollar continues to be a turn off for investors
by Kay Murchie
November 16, 2009
London’s FTSE 100 rose to its highest level this year after the price of gold hit a fresh record high today of $1,132.95 an ounce.
Increasing demand from emerging markets has been pushing up the price of the precious metal over recent weeks.
Furthermore, gold traditionally rises during the October to December period as the run-up to Christmas and ...
Soaring gold prices sends FTSE to 2009 high
by Kay Murchie
November 9, 2009
A weak US dollar continues to make gold an attractive buy for investors, as well as increasing demand from emerging markets, which is pushing up the price of gold.
Furthermore, gold traditionally rises during the October to December period as the run-up to Christmas and the Indian festival of Diwali pushes up demand.
The precious metal rose to ...
Weak US dollar continues to push up price of gold
by Kay Murchie
August 5, 2009
Sterling is continuing to climb against the US dollar on the back of renewed optimism within the UK economy.
News released today sent the pound back above the $1.70 mark - its highest level since October last year.
According to the Office for National Statistics, industrial output rose unexpectedly in June by 0.5% compared with May. While it ...
Pound continues to rise against US dollar following positive economic news
by Kay Murchie
January 19, 2009
Nationwide International this week reduced the interest rate on its US Dollar accounts.
The offshore subsidiary of Nationwide Building Society cut the interest paid on its US Dollar Tracker Premium account to 0.50% AER, whilst the US Dollar Savings account rate was moved down to 0.25% AER.
Nationwide said the new rates were a response to the US Federal Reserve's December base rate reduction.
It ...
Nationwide International reduces savings rate
by David Masters
January 12, 2009
Last week's cut to the base rate of interest has rallied the strength of the pound against key currencies.
The Bank of England cut rates by 0.5% to 1.5%, the lowest for over 300 years, but not as drastic a cut as some analysts had anticipated.
As a result, the pound strengthened against the US dollar and the Euro, up to €1.12 or ...
Small base rate cut strengthens sterling
by David Masters
