The Great Britain pound posted the fourth straight weekly decline against the US dollar and the Japanese yen as the fundamental data signaled that the nation’s economy is stagnating, prompting the speculation the UK central bank will be required to embark on a quantitative easing.
The New Zealand dollar jumped today after the Reserve Bank of New Zealand maintained its interest rates yesterday and signaled that the good health of the nation’s economy can lead to higher rates in the future.
The Australian dollar advanced today against the US dollar and the euro as the Asian stocks climbed, but the currency is still heading to a weekly decline as concerns about the European economy sapped appeal of higher-yielding currencies.
The US dollar fluctuated as the mixed fundamental data left Forex traders uncertain will the US economy face recovery or recession. The currency was falling yesterday, but at the start of today’s trading session the dollar rebounded.
The Russian ruble climbed today, rebounding from the lowest level in eight months against the US dollar, as crude oil gained and the European Central Bank announced its plans to boost liquidity, bolstering risk appetite.
The South African rand strengthened today as the European Central Bank announced it’s planning to lend dollar to the European bank in an effort to support the European banking system and to boost liquidity.