While riskier currencies and commodities received a significant boost after it was announced that Barack Obama had been reelected as US President, fears regarding the future of the US economy quickly resulted in investors shifting their funds...
The currency markets were relatively quiet yesterday, as uncertainties regarding the outcome of the US presidential election led to investors holding off on opening big positions.
The EUR/USD spent most of the day yesterday near its lowest point since early September, as concerns regarding Greece’s ability to secure a new round of bailout funds caused investors to shift their funds to safe-haven assets.
The US dollar saw gains against virtually all of its main currency rivals on Friday, following a better than expected Non-Farm Payrolls report which boosted confidence in the American economic recovery.
The USD/JPY was able to extend its bullish run throughout the day yesterday, following a batch of positive US economic news which boosted faith in the American economic recovery.
The euro was able to extend its recent bullish momentum during the first part of the day yesterday, as positive EU economic indicators continued to generate investor risk taking.
The euro rallied against most of its main currency rivals throughout the day yesterday, after an increase in investor risk taking due to better than forecasted news out of Spain and a positive Italian bond auction.
A lack of significant international news yesterday, combined with concerns regarding a hurricane set to hit the United States resulted in low volatility in the marketplace.
Despite a better than expected US GDP report on Friday, the US dollar took somewhat significant losses against the Japanese yen before markets closed for the week.
The USD/JPY spent most of the day yesterday within reach of a recent four-month high, as speculations that the Bank of Japan would soon initiate a new round of quantitative easing continued to weigh down on the...
