Search

The article reports on currency trading as of November 9, 2009. It notes that the U.S. dollar lost ground against the euro and other higher-yielding currencies following the pledge made by the Group of 20 industrial and developing nations not to lift the economic-stimulus programs until global recovery is guaranteed. It adds that most of the gains of the euro resulted from trading in Asian and European markets. The euro ended stronger at 1.4988 dollars while the dollar traded at 90.01 yen.

The article reports on foreign exchange rate movements for the January 12, 2009 currency trading day. As U.S., Asian and European equity values declined, the Japanese currency reached highs versus the euro and U.S. dollar. In New York, the U.S. dollar declined to 89.09 yen and the euro similarly fell in value to 118.66 yen. The article says that Japanese authorities may take action to slow the yen's appreciation as a too strong yen affects the competitiveness of Japanese exports which contribute significantly to the Japanese economy.

The article reports on the decline in European and Asian stock markets amid concern due to the pace of global growth. There was a 1.4% decline in the pan-European Dow Jones Stoxx 600 Index to 314.46. Shares of Swiss bank UBS fell 3.3% in Zurich, Switzerland, while Volkswagen gained 1.6% in Frankfurt, Germany. The Nikkei Stock Average in Japan was down 610.84 points due to the depreciation in the value of dollar against yen.