Daily Global Foreign Currency Exchange News: 26th November, 2010
This morning on the Global Foreign Exchange front we see that the EUR/USD has slowly drifted along the Asian session. The Dollar has however risen against most of it’s competitors as news with regard to North & South Korea could lead to war. With regard to the Euro it has been reported that a majority of the Eurozone are now urging Portugal to follow Ireland’s example and make a formal request for aid from Europe’s rescue fund.
Euro: The euro traded at JPY111.58 compared with JPY111.75. Overnight the EUR/USD reached a session low of 1.33. Many are still speculating that the debt crisis is going to get worst and may hit Spain and Portugal next.
Pound: Yesterday, saw the pound under pressure against the dollar and dropped to its lowest level since October 26th at USD 1.5725 before rebounding modestly before the close. It did however gain ground against a broadly weaker Euro.
US Dollar: The dollar was higher against the Swiss franc and the GBP but very little change happened yesterday due to reduced trading flows as it was Thanksgiving.
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