Showing posts with label USD. Show all posts
Showing posts with label USD. Show all posts

Thursday 11 September 2014

FOREX hike in Sterling



United Kingdom's currency rates over United States of America's dollars' is one of most traded forex exchange pair which tracks development of the major developed economies and sets a trend for other currency pairs.

Great Britain's Pound (GBP) traded almost flat against dollar holding its stable rates on Thursday after recovering from its lowest bench point of 10-months recorded on Monday.

Sterling fell on rising announcement of Scotland's independence which brought its forex values to an unexpected slowdown. Though, GBP/USD traced a recovery path, concerns over independence of Scotland are likely to hold high risk quotient on GBP trading.

The latest trading quotes of pair reported slipping at 0.06 percent with summarizing trade value at 1.6201 today. According to yesterday's data, the pair located trades around the levels of 1.6050 holding the weakest level since the fall of November 2013.

The range bounds for GBP/USD for Thursday trading is between 1.6100 supporting level with resistance at 1.6280 level.

British sterling climbed up in trade after the country launched a new poll to recheck the data produced by YouGov research. The new opinion poll supported the campaign posting NO to Scottish independence as 53 percent attendants voted against the move.

Therefore, Scotland's independence is the biggest concern for UK markets and it's currency's valuation in forex trade.

In other trades also, sterling climbed higher against the world currencies, with EUR/GBP sinking 0.06 percent floating at 0.7962, compared to its yesterday's hike coming to three-month highest record at 0.8065.

Wednesday 10 September 2014

USD surged: USD/JPY highest in 6-year






US dollar set a new highest record in six-year's script over Japanese Yen (JPY) on Wednesday, with Australian dollar (AUD) recording another session bulked with a big box of losses over rise in US treasury yields.


Forex traders are summing over the risk of trading in US currency trading coming out of US interest rate rise. Investors are reallocating their investments to USDs following Federal Reserve's report in the current weak citing higher determined recovery hiking the price of currency hitting new targets everyday.

With statements and publications from Fed, US treasury yields climbed up close to two year's highest heading to break three-year's highest record of 0.590 percent. High security long-term yielding US treasury rose more than 2.50 percent recovering from its recent fall at 2.30 percent rate. In Asian markets, it traded at 2.505 on Wednesday in early session.

USD backed up with positive cues from US treasury yields branded its value higher against most of the major currencies in the market. USD/JPY expanded to 106.56 breaking its six-year's highest record.

"Trader who did not hold their dollar stock lost out on big gains which will continue as Japanese yields fall further in near future," a forex researcher quoted from a renowned company in Tokyo.

Asian currencies fell against dollars and so did Australian dollar ratio with US dollar. AUD/USD lowered 0.4 percent down trading at 0.9162 in the market range today. Though, the ratio is posting a slim drop at 0.4 percent, in the overview of forex trade market AUD/USD gained momentum from its previous close at 0.9154.

Among domestic cues, Australian dollar commenced a climbing trend but paused on highest record gains in US. Australian forex expert said, "The trading level of AUD/USD broke its normal closing at 0.9175 as per estimates."

Similarly, European markets reported lower over gains in USD. EUR/USD plunged 14 months gains coming back to 1.2859 losing 0.1 percent from its last closing at 1.2925.

UK markets fought back US currency recovering from its disappointing beat down from the news of Scotland's independence. GBP/USD moved a notch up at 0.1 percent coming to 1.6115 coming back from its lifetime low at 1.6060 recorded yesterday.