|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Thursday 07th of June 2007

FM Main:

FM News:

FM Features:


May 15, 2006

US dollar strengthens; yen still up

Permalink: US dollar strengthens; yen still up by Elaine Frei

The US dollar strengthened Monday despite new capital inflows data showing that March inflows were at $69.8 billion, lower than had been predicted. Gains came as investors exited short positions not only against the dollar but against a number of other currencies as well.

At mid-afternoon in New York, the greenback had gained 0.7 percent to $1.2840 versus the euro. The US currency also was up 0.5 percent against sterling, to $1.8840, while it added 0.8 percent to SFr1.2080 in relation to the Swiss franc and advanced 0.4 percent to C$1.1124 versus the Canadian dollar.

The Japanese yen also strengthened on the day. While it dropped 0.1 percent to ¥110.16 in relation to the US dollar, it was up 0.7 percent against the euro to ¥141.38, gained 0.4 percent to ¥207.45 versus sterling, and added 0.9 percent to ¥84.18 in relation to the Australian dollar.

Emerging currencies were mostly lower in relation to the greenback. The only notable exception was the Chinese renminbi, which closed at Rmb8.0030, its highest position against the US dollar in more than 12 years. Elsewhere, the Turkish lira dropped 6.1 percent to TL1,4850 versus the greenback, the South African rand was down 3 percent against the dollar to R6.4255, and the South Korean won fell 1.1 percent to Won 943.40 in relation to the US currency. The Australian and New Zealand dollars were down 1 percent and 1.3 percent respectively against the greenback, to $0.7644 and $0.6215.

Related financial stories:

US dollar strengthens:  Movement in the prices of US Treasury bonds and the expectation of further US interest rat...

US dollar strengthens on data:  The dollar strengthened on Monday as investors looked for safe places to put their money a...

US dollar strengthens against euro, yen:  The US dollar was stronger on Tuesday as several dollar-positive reports were released. P...

US dollar strengthens on profit-taking:  The US dollar strengthened on Thursday after three days of losses, but the gains were expl...

Euro strengthens slightly on Ifo survey data:  The euro strengthened slightly on Thursday after the Ifo business climate indicator droppe...

No Comments

No comments yet.

Sorry, the comment form is closed at this time.