Currency News: UK daily forex news

Daily World Currencies News from London                           Thursday 22nd of October 2009

Major Currencies:          September 15, 2009

GBP                              Yen weakens on US data

USD                   

Euro                               Story link: Yen weakens on US data

Yen                               

The Japanese yen weakened Tuesday as good news from US retailers spurred investors to look for riskier investments among higher-yielding currencies.

US retail sales were up 2.7 percent in August; excluding auto sales, they were still up 1.1 percent in the month.

In afternoon trade in New York, the yen traded at ¥90.955 to the US dollar and at ¥133.1893 to the euro, while it took $1.4643 to buy a euro.


Meanwhile, the pound was weaker on comments from Bank of England Governor Mervyn King indicating that the Bank could soon cut the rate paid for the Bank of hold reserves.


Banks are now paid 0.5 percent on deposits of their reserves held by the Bank.

The pound traded at 88.89p to the shared currency in afternoon trade in New York, while it took $1.6403 to buy a pound.

The news that US retail sales had gone up so much in August helped the Canadian dollar higher versus its US counterpart as it traded at C$1.0736 to the greenback during the afternoon session in New York.

 
                     September 11, 2009
                     USD weakens, rebounds after scare
 
   Story link: USD weakens, rebounds after scare
 

The US dollar weakened Friday on decreased demand in favor of higher yielding currencies after a Reuters/University of Michigan survey showed US consumer sentiment at 70.2 in September, from 65.7 last month.

 
  The rise in sentiment sent investors looking for riskier investments at the expense of the lower-yielding dollar.However, the greenback gained back its decline versus […]                     


                      September 8, 2009
                      Pound sees gains on factory data

     Story link: Pound sees gains on factory data

The pound saw gains Tuesday after an unexpectedly large rise in U.K. factory output in July while at the same time Germany’s industrial production dropped by 0.9 percent in July from June when analysts had predicted that Germany’s output would rise by 1.6 percent in July.


Factory output in the U.K. was up 0.9 percent in […]

The rise in sentiment sent investors looking for riskier investments at the expense of the lower-yielding dollar.


However, the greenback gained back its decline versus the euro after reports of a Coast Guard training exercise on the Potomac River on the eighth anniversary of the terrorist attacks on 11 September 2001.

The training exercise, which had not been reported in advance to other agencies including the Harbor Patrol and the Secret Service, frightened some after a report, later dismissed, of shorts fired, as it took place near a route used by a presidential motorcade to take US President Barack Obama to an event at the Pentagon in remembrance of the 9/11 attacks.

At 2:36 p.m. in New York, the dollar traded at $1.4594 to the euro while the yen was at ¥90.515 to the US dollar and at ¥132.1001 to the shared currency.

Meanwhile, the pound gained on the euro and the dollar after the Office for National Statistics reported a gain of 0.2 percent in UK producer prices in August from July’s level.

The pound traded at 87.46 to the euro while it took $1.6686 to buy a pound in afternoon trade in New York.