Market News 4 Jan 2013
Currency EUR/USD For the second day the dollar stayed higher than the euro, with a 0.1 percent gain and traded at 1.3040 per euro at 5 pm New York time, making it its strongest level in three weeks. The dollar is expected to advance 1.19 dollars per euro by the end of the year.
USD/JPY The yen fell against most other major currencies including the U.S. dollar, and that marks its longest weekly loss since 24 whole years, with a 2.1 percent loss against the U.S. dollar. It fell to 87.83 per dollar, and at 7 am London time it fell further to 87.74 per dollar. The yens 14 day relative strength index fell to 16.6 against the dollar.
AUD/USD Chinas decline has had a big impact on the Australian dollar as the country is Australias biggest trade partner. The Aussie fell to 1.0441 at 4:25 pm Sydney time, losing 0.2 percent from yesterday. Expectations are that the currency will not have a noticeable improvement until china starts to improve pulling it along.
Currency EUR/USD For the second day the dollar stayed higher than the euro, with a 0.1 percent gain and traded at 1.3040 per euro at 5 pm New York time, making it its strongest level in three weeks. The dollar is expected to advance 1.19 dollars per euro by the end of the year.
USD/JPY The yen fell against most other major currencies including the U.S. dollar, and that marks its longest weekly loss since 24 whole years, with a 2.1 percent loss against the U.S. dollar. It fell to 87.83 per dollar, and at 7 am London time it fell further to 87.74 per dollar. The yens 14 day relative strength index fell to 16.6 against the dollar.
AUD/USD Chinas decline has had a big impact on the Australian dollar as the country is Australias biggest trade partner. The Aussie fell to 1.0441 at 4:25 pm Sydney time, losing 0.2 percent from yesterday. Expectations are that the currency will not have a noticeable improvement until china starts to improve pulling it along.