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30th of December 2010
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News Tag: US dollar

October 19, 2010

Fears for Japanese economy as yen strengthens

by Kay Murchie
”Fears
Concern has been raised for Japan’s recovery today after the Cabinet Office said the economy is at a standstill, attributed to the rising yen, which is weakening demand for exports. As a result of a rising yen, the Bank of Japan (BoJ) intervened to stem the currency against the US dollar – the first time in six years that such action ...




October 15, 2010

Japan may step in to weaken currency

by Kay Murchie
’Japan
Japan's Prime Minister, Naoto Kan, has today said he is "very concerned about the currency situation" as the yen continues to strengthen against the US dollar. The Japanese yen is currently hovering around 15-year highs against the dollar. Last month, the Bank of Japan (BoJ) intervened to stem its currency against the dollar – the first time in six years that such ...




September 24, 2010

Japanese yen falls against US dollar

by Kay Murchie
”Japanese
The Japanese yen has dipped against the US dollar today, raising suspicion that Japan has again taken action to weaken its currency. Last Wednesday, the Bank of Japan (BoJ) intervened to stem its currency – which hit a fresh 15-year high against the dollar. It was the first time in six years that such action had been taken. A stronger yen has ...




September 15, 2010

Japan takes action to weaken yen

by Kay Murchie
Japan takes action to weaken yen
For the first time in six years, the Bank of Japan (BoJ) has taken action to stem its currency - which has been rising against the US dollar. Yesterday, the yen hit a fresh 15-year high against the dollar after Prime Minister, Naoto Kan, won a ruling party leadership vote, defeating Ichiro Ozawa. The currency has been rising against the dollar over ...




September 14, 2010

Yen continues to rise against US dollar

by Kay Murchie
Yen continues to rise against US dollar
The Japanese yen has hit a fresh 15-year high against the US dollar today after Prime Minister, Naoto Kan, won a ruling party leadership vote, defeating Ichiro Ozawa. The currency has been rising against the dollar over recent weeks but a stronger yen has meant demand for exports has weakened - fuelling concerns for the recovery in the world’s second ...




June 29, 2010

IMF believes yuan still undervalued

by Kay Murchie
IMF believes yuan still undervalued
Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), has said that China's yuan was still too low, despite a pledge by the People’s Bank of China to make its exchange rate more flexible. The US has previously expressed dissatisfaction that China is keeping the value of the yuan low to help its exporters at the expense of overseas competitors. Earlier ...




May 24, 2010

China commences talks with US over yuan policy

by Kay Murchie
China commences talks with US over yuan policy
Talks have commenced between China and the US today with the main issue to be the Chinese currency. Hillary Clinton is leading the US delegation as the US argues that China's currency policy unfairly favours its exporters. US legislators and trade groups say the yuan, which is also referred to as the renminbi, is kept up to 40% below ...




March 15, 2010

China argues stable yuan contributes to global recovery

by Kay Murchie
”China
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 ...




February 1, 2010

Small manufacturers benefit from weak pound

by Kay Murchie
”Small
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 ...




January 7, 2010

Currency intervention may be required in Japan

by Kay Murchie
Currency intervention may be required in Japan
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, ...




December 6, 2009

Dollar strengthens, price of gold falls

by Kay Murchie
Dollar strengthens, price of gold falls
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 ...




December 2, 2009

Gold continues to soar on back of weak dollar

by Kay Murchie
Gold continues to soar on back of weak dollar
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 ...




November 27, 2009

Currency intervention may be required by Japanese Government

by Kay Murchie
Currency intervention may be required by Japanese Government
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 ...




November 26, 2009

US dollar continues to be a turn off for investors

by Kay Murchie
US dollar continues to be a turn off for investors
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 ...




November 16, 2009

Soaring gold prices sends FTSE to 2009 high

by Kay Murchie
Soaring gold prices sends FTSE to 2009 high
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 ...




November 9, 2009

Weak US dollar continues to push up price of gold

by Kay Murchie
Weak US dollar continues to push up price of gold
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 ...




August 5, 2009

Pound continues to rise against US dollar following positive economic news

by Kay Murchie
”Pound
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 ...




January 19, 2009

Nationwide International reduces savings rate

by David Masters
Nationwide International reduces savings rate
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 ...




January 12, 2009

Small base rate cut strengthens sterling

by David Masters
Small base rate cut strengthens sterling
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 ...