Archive for June, 2007

Canadian Dollar Volatility Surges as Investors Buy Protection

Friday, June 22nd, 2007

Volatility on options for the Canadian dollar is at the highest since January as investors use the derivatives to protect against the greater-than-anticipated rally against the U.S. currency.Futures traders, who speculate on currencies, now hold record bets Canada’s currency will strengthen, a reversal from record so-called net shorts in January, according to figures from the […]

FOREX-Yen hits fresh lows as risk appetite maintained

Friday, June 22nd, 2007

LONDON, June 22 (Reuters) - The yen hit a record low versus the euro and a 4-1/2 year trough against the dollar on Friday as investors continued to sell the low-yielding Japanese currency in favour of higher returns.
Carry trades were reflected again in high-yielding currencies, as the New Zealand dollar hit multi-year highs versus the […]

Japanese Stocks Decline; Dollar Rises

Friday, June 22nd, 2007

TOKYO (AP) - Japanese stocks fell Friday, breaking a six-session rally, as investors took profits after the market reached a seven-year high the previous day.
The Nikkei 225 index shed 51.67 points, or 0.28 percent, on the Tokyo Stock Exchange to 18,188.63 points. Over the previous six sessions, the index had gained 2.86 percent.
On Thursday, the […]

Euro Slightly Higher Against Dollar

Friday, June 22nd, 2007

FRANKFURT, Germany (AP) - The euro was higher against the dollar in European trading Friday with markets brushing off a slip in German business confidence.
The 13-nation euro bought $1.3415 in morning European trading, rising from the $1.3387 it bought in New York late Thursday.
The June Ifo business climate index fell to 107, from May’s 108.6. […]

Japanese Stocks Close at Seven-Year High

Thursday, June 21st, 2007

Japanese stocks rose to a seven-year high Thursday, lifted by recent yen weakness, which helps the nation’s key exporters, and optimism over the nation’s economic outlook.
The Nikkei 225 index advanced for a sixth day, adding 28.62 points, or 0.16 percent, on the Tokyo Stock Exchange to 18,240.30 points _ the highest […]

Pound Rises to Four-Month High Versus Euro on Rates Speculation

Thursday, June 21st, 2007

The pound climbed to the highest in almost four months against the euro on speculation investors will keep increasing bets on higher interest rates in Europe’s second- largest economy.The currency has risen almost 1 percent versus the euro this week as minutes of the Bank of England’s June policy meeting yesterday showed Governor Mervyn King […]

Dollar Rises on Speculation Reports to Show Pickup in Economy

Thursday, June 21st, 2007

The dollar rose against the euro and traded near a four-year high versus the yen on speculation a report on U.S. manufacturing will show the economy is picking up from the slowest pace of growth in four years.The dollar made its biggest gain against the euro in more than a week as economists forecast faster […]

Yen Falls to Near Record Low Versus Euro on BOJ Interest Rates

Wednesday, June 20th, 2007

The yen fell to near a record low against the euro and declined versus the dollar after minutes from the Bank of Japan’s May meeting said central bankers stuck to a policy of raising interest rates “gradually.’’Japan’s currency also dropped to the weakest since September 1992 against the British pound and a two-decade low versus […]

Pound Gains After Minutes Show BOE’s King Favored Higher Rates

Wednesday, June 20th, 2007

The pound climbed to a two-week high against the dollar after minutes of the Bank of England’s last policy meeting showed Governor Mervyn King and three other policy committee members voted for higher interest rates.The U.K currency rose for a fourth day as minutes of the BOE’s June 6-7 meeting showed King, John Gieve, Timothy […]

Dollar Trades Near Two-Week Low Versus Euro as Bond Yields Drop

Wednesday, June 20th, 2007

The dollar traded near a two-week low against the euro as Treasury yields declined on expectations a housing slump will curb U.S. economic growth.The currency headed for a sixth day of declines, the longest run since April 19, as the yield on 10-year U.S. notes fell for a fourth day. Yields fell as a report […]