Currency Articles
Currency Articles - July 22, 2010 10:09
Positive earnings reports boost dollar
The dollar has been getting hammered in recent weeks as renewed concerns about the economy caused many to get out of long dollar positions. However, several positive earnings reports to start the week have helped give the greenback a boost against most major currencies.
Euro soars past $1.30
The Euro continues its remarkable rebound against the dollar following a long-term low of $1.1876 in early June. Since that point, the Euro has bounced nearly 11 pips in about six weeks to a current rate of $1.2935.
Euro, Pound soar on US pessimism
The Euro and British Pound are among the global currencies making great strides against the slumping US dollar. One Euro is currently worth $1.2554 after reaching as high as $1.2613 in earlier Friday (July 2) trade, while a British Pound is fetching an even $1.52 after peaking at $1.5234 earlier in the day.
Dollar hammered by yen as job concerns remain
The dollar has quietly slipped against the yen in this week’s currency trade while remaining mostly flat against other major counterparts including the Euro and British Pound. A less than stellar round of economic reports Monday, Tuesday and Wednesday (June 30) morning have cast a dark cloud over optimism for economic recovery.
Pound near $1.50 as Fed expresses concern
A slew of mixed economic reports Thursday (June 24) morning reinforced the economic uncertainty of the Federal Reserve’s post-meeting announcements Wednesday in which statements were somewhat pessimistic about the pace of economic recovery.
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