The euro bounced back from early losses on Thursday on hopes that banks will not have to borrow heavily at a European Central Bank tender, signalling they can deal with the repayment of huge emergency loans.
The euro hit a record low against the Swiss franc and the Australian dollar also fell on Thursday as weaker-than-expected Chinese data added to doubts about the strength of the global recovery.
The Chinese data sparked selling in higher-yielding currencies, with one trader saying low liquidity and short-term speculators taking punts on the euro against the Swiss franc and the Australian dollar against the yen added to the volatility.
Renewed concerns over the outlook for global growth have spurred another sell off in the commodity currencies, sending the AUD back through USD0.8400 overnight.
The AUD/USD bounced from intraday support at 0.8465 on two occasions during early morning exchange yesterday rallying during the afternoon session to enter offshore trade edging towards 0.8550.
The International Business Times last week held an exclusive interview with Todd B. Crosland, Chairman and President of Interbank FX, one of the most exciting Forex brokers in the US.
The U.S. dollar's share of global currency reserves eased slightly to 61.5 percent in the first quarter of 2010 as total holdings climbed to a new record, International Monetary Fund data showed on Wednesday.
A broad coalition of U.S. business groups urged senators on Wednesday not to approve a bill that would allow the United States to use import duties against China's exchange rate policy.
We agree that China needs an exchange rate that better responds to global trade flows, the U.S.-China Business Council and about two dozen other groups said in a letter to each member of the Senate.
Japan's public pension fund said on Wednesday the rate of return on its investments surged to plus 7.91 percent in the 2009/10 financial year, following a record loss of minus 7.57 percent the year before.
Romania's central bank held interest rates at 6.25 percent on Wednesday, as expected, halting its easing cycle after a government plan to raise value added tax added to uncertainty about the economy.
European shares rose 0.6 percent in a choppy morning session on Wednesday after the European Central Bank (ECB) announced results for its latest liquidity operation.
The euro rebounded on Wednesday after two days of steep losses, but investors remained worried about the global recovery and concerned the European Central Bank may be pulling back emergency funds too quickly.
The yen kept the euro and the Australian dollar pinned down near lows on Wednesday, after a heavy round of leveraged trade unwinding, and the euro also struggled above a record low on the safe-haven Swiss franc.
The euro and Australian dollar edged up against the yen but stayed near recent lows on Wednesday, after a heavy round of leveraged trade unwinding, while the euro was also within range of a record low on the safe-haven Swiss franc.
The Australian Dollar fell two US cents as markets reacted to evidence of a slowing in the global economic recovery.
The Aussie sold off in Asia yesterday following some weaker than expected Japanese data and general risk aversion.
A toxic combination of European banking concerns, a downward revision to Chinese growth and poor U.S. economic data battered Latin American currencies on Tuesday.
Brazil's real was hit the hardest, plunging to its weakest level in about two weeks, as investors fled higher-risk assets worldwide.
The euro hit an all-time low versus the Swiss franc, while the Japanese yen rallied on Tuesday as investors pulled back sharply from riskier assets.
Markets are skittish about the outlook for U.S. growth after a string of lackluster reports. Fears over euro zone financing weighed on the euro and global equities.
A new United Nations report released on Tuesday calls for abandoning the U.S. dollar as the main global reserve currency, saying it has been unable to safeguard value.
The dollar has proved not to be a stable store of value, which is a requisite for a stable reserve currency, the U.N. World Economic and Social Survey 2010 said.
Bank of Canada Governor Mark Carney has been named chairman of a Basel-based committee of global central bankers who discuss financial market policies, the bank said on Tuesday.
June 29 - About 10,000 people take part in marches across Athens during a nationwide strike against austerity measures.
-- Greece starts to debate overhaul of pensions to raise women's retirement age from 60 to match men at 65 and demand more years at work to qualify for a pension. Greece's debt reached 133 percent of GDP in 2010.
The euro hit an all-time low versus the Swiss franc and an 8-1/2-year trough against the yen on Tuesday as investors worried about the expiry of a key euro zone refinancing programme this week. The yen rallied as a 2 percent fall in European shares .FTEU3 raised the safe-haven appeal of the Japanese currency, along with the Swiss franc and the dollar, while the high-risk Australian and New Zealand dollars took a beating.
The yuan CNY=CFXS weakened slightly against the dollar in the onshore spot market and offshore forwards on Tuesday as investors saw little opportunity for the Chinese currency to appreciate sharply in the near term after the end of the G20 summit over the weekend.
The euro hit a lifetime low against the Swiss franc and an 8 1/2-year trough versus the yen on Tuesday as stocks weakened and investors braced for a key euro zone refinancing programme to expire this week.
Europe told the G8 summit it may consider spending public funds to inject capital into banks depending on the outcome of stress tests now under way in the region, Japan's Nikkei business daily reported on Tuesday.
Japan's Nikkei average slipped 0.6 percent on Tuesday, erasing earlier gains as exporters fell on a stronger yen and charts remained grim, with the benchmark poised for its worst quarter since Lehman Brothers failed in 2008.
The euro slumped to a lifetime low against the Swiss franc and a 1-1/2-year trough versus sterling on Tuesday, stung by liquidity concerns before a key euro zone refinancing program expires this week.
The euro hit an 8 1/2-year low versus the yen on Tuesday as the single currency struggled broadly due to investor jitters about liquidity issues before a euro zone refinancing programme expires this week.
The euro hit a lifetime low against the Swiss franc and a three-week trough versus the yen on Tuesday on funding jitters ahead of a deadline for European banks to repay money to the European Central Bank.
The yuan was little changed against the dollar in the onshore spot market and offshore forwards on Tuesday as investors saw little opportunity for the Chinese currency to appreciate sharply in the near term after the end of the G20 summit over the weekend.
Gold bounced on Tuesday after a volatile session the previous day, when it nearly touched last week's all-time high before a firmer U.S. dollar triggered heavy selling from speculators.
