Dollar tumbles as uncertainty grows

The disappointing jobs report, that  was release on Friday has built up a lot of uncertainty on the currency markets which has led the Dollar down against its major rivals- the Yen, and the Euro. Earlier during the week the Dollar managed to reach 100 Yen which is an important psychological level, but did not hold the gains due to the increased volatility on the international markets. That was caused by the concerns for war in Syria and the fear that the Federal reserve may start tapering its 80 billion-per-month…

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All Eyes on the US Dollar

EUR/GBP     £0.8378 Discussions about the Greek debt are still dominating on the European market. The single currency gained slightly against the British Pound the UK and seems to remain at this level. There are minimal economic announcements from Europe today as the market attention is currently concentrated at the US Dollar. The Euro is trading at £0.8378 at the moment and still moving upwards. GBP/EUR     €1.1944 Things are quiet for the Pound today as the attention is concentrated towards the US Dollar. The Pound however is still struggling against the…

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The Pound – Worst Performing Currency Last Week

EUR/GBP     £0.8274 The pair EUR/GBP is quite unstable at the moment. Right now, the Euro is gaining strength and is trading at £0.8274. GBP/EUR     €1.2082 The Pound was said to be the worst performing currency last week. However, it has a great advantage ahead of its counterparts, which is that the UK is not a member of the Euro Zone. Such independence allows the country to control its own monetary policy, and is more flexible when it comes to shifts in market trends that are deepening the Euro crisis. Still,…

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USD/EUR Outlook, 2012

The Euro finally rose against the US Dollar shortly after reaching a 16-month low against the Dollar. The markets today eagerly anticipate the meeting between the German Chancellor Angela Merkel and the French President Nicolas Sarkozy during which they will work on the “fiscal compact”. The meeting is to prepare the EU summit scheduled for January 30th which shall reveal ways to boost the EU economic growth. Before the meeting even takes place, the Euro demonstrated gains against the Dollar as it climbed up to $1.2761. Yet, however, further declines…

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Pound’s Future Not Bright; US Dollar Falls after G20

GBP/USD 1.5735 George Osborne, Chancellor of Britain, proposed last week an extreme spending cut of over 80 billion pounds in order to cope with the nation’s budget deficit of 156 billion pounds. According to economists, however, this action was ‘insane.’ As a result, the pound will drop below $1.40 this year, stated John Taylor, chief executive officer of FX Concepts Inc.. The U.S. dollar, on the other hand, fell on Monday, Oct 25, after the G20 meeting. “It looks like the market has taken the G20 as a green light…

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