Wednesday, 19 June 2013 02:31
Posted by Asad Naeem
TORONTO: The Canadian dollar retreated against a broadly stronger US dollar on Tuesday as investors braced for news on where the US Federal Reserve will take monetary policy.Markets have been jittery in recent weeks on speculation the Fed could start winding down stimulus measures soon, and they are looking to Fed chief Ben Bernanke's news conference on Wednesday, at the end of the US central bank's two-day federal open market committee (FOMC) meeting, for more clarity."It's very quiet. Everybody's caught in pre-FOMC concerns," said Mark Chandler, head of Canadian fixed-income and currency strategy at RBC Capital Markets."Most people are looking for some words of comfort from Bernanke. What he's going to do is simply be clear about the process it takes and how long it might take from taper to an eventual rate increase."The Canadian dollar finished its North American session at C$1.0210 versus the greenback, or 97.94 US cents, ...
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TORONTO: The Canadian dollar retreated against a broadly stronger US dollar on Tuesday as investors braced for news on where the US Federal Reserve will take monetary policy.Markets have been jittery in recent weeks on speculation the Fed could start winding down stimulus measures soon, and they are looking to Fed chief Ben Bernanke's news conference on Wednesday, at the end of the US central bank's two-day federal open market committee (FOMC) meeting, for more clarity."It's very quiet. Everybody's caught in pre-FOMC concerns," said Mark Chandler, head of Canadian fixed-income and currency strategy at RBC Capital Markets."Most people are looking for some words of comfort from Bernanke. What he's going to do is simply be clear about the process it takes and how long it might take from taper to an eventual rate increase."The Canadian dollar finished its North American session at C$1.0210 versus the greenback, or 97.94 US cents, ...
NEW YORK: The US dollar rose on Tuesday against the yen for a second straight session as some traders bet the Federal Reserve may signal it is almost ready to reduce its bond buying program aimed at propping up the economy.The euro hit a four-month high against the dollar after a survey showed German analyst and investor sentiment rose for a second consecutive month in June, suggesting Europe's largest economy is on track for a ...
NEW YORK: The yen rose sharply versus the euro and US dollar on Tuesday after the Bank of Japan refrained from making additional moves to curb recent bond market volatility, raising doubts over its commitment to easy monetary policy aimed at boosting growth.The lack of action by the BOJ to try to reduce wide price swings in the local bond market had a cascading effect of sending stock prices sharply lower in Tokyo and setting ...
TORONTO: The Canadian dollar ended nearly flat versus the US dollar on Tuesday, rebounding from early-session weakness as investors sold the US currency versus the Japanese yen."The yen just hit this massive air pocket ... and it's spilled over to the Canadian dollar and elsewhere in the foreign exchange market. It was clearly a theme of selling the dollar," said Adam Button, a currency analyst at ForexLive in Montreal.That brought the Canadian dollar back from ...
