Wednesday, 08 April 2015 04:55

Dollar fell against major peers

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Major Currency Updates:

GBPUSD: Pound gained by 0.18% to 1.6106 but fear of weakening global growth is likely to affect GBP. Last week UK Business Secretary Vince Cable said that he believed the Pound was still overvalued by as much as 15%. U.K. general election in May 2015 will also start affecting the currency.

EURUSD: EUR gained by 0.50% to 1.269 as FOMC member Fisher said in his speech that with low foreign growth Fed might have to delay interest rate hike decision.

JPYUSD: Yen gained most in four weeks as demand for haven currency increased after fall in Asian stocks. Currency reached at 110 level earlier in this month on anticipation of earlier than expected interest rate hike by Fed and slowing consumption in Japan.

USDAUD: AUD appreciated by 0.92% to 0.8689 as its major trade partner China reported better than expected increase in exports and more than estimated increase in import today. China Yuan also gained on PBOC's reference rate hike.

 

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