Forex Updates- JPY Fell Against Other Majors
Wednesday, May 6, 2009
On Thursday, the JPY fell against other major currencies as risk-aversion pointed on improving clarity about the health of the economy among a flurry of news ahead of outcome of US stress tests.
According to Forex updates the AUD hit it’s biggest in 7-months against the USD and the Yen after the facts showed Australian employment jumped against all expectations in April, dragging the unemployment rate down and throwing into doubt the require for additional interest rate cuts.
The NZD also rose after redundancy figures for the first-quarter were not as bas as estimated.
On Wednesday, US Treasury Secretary Timothy Geithner said that none of the 19 banks being considered under stress test are at risk of liquidation.
Regulators have told Bank of America that it needs $34 billion of capital, while auto and mortgage lender GMAC LLC needs $11.5 billion and Citigroup needs $5 billion, according to people familiar with the subject.
Forex updates
On Wednesday, the USD rose to 98.65Yen, up 0.3% from late US trade.
The AUD rose 1.0% to $0.7548 after touching $0.7563, its biggest since early October, following the employment data. It also hit a 7-month high of 74.63Yen.
The Kiwi was up 0.9% at $0.5900 and rose 1.3% to 58.17Yen.
According to Forex updates the AUD hit it’s biggest in 7-months against the USD and the Yen after the facts showed Australian employment jumped against all expectations in April, dragging the unemployment rate down and throwing into doubt the require for additional interest rate cuts.
The NZD also rose after redundancy figures for the first-quarter were not as bas as estimated.
On Wednesday, US Treasury Secretary Timothy Geithner said that none of the 19 banks being considered under stress test are at risk of liquidation.
Regulators have told Bank of America that it needs $34 billion of capital, while auto and mortgage lender GMAC LLC needs $11.5 billion and Citigroup needs $5 billion, according to people familiar with the subject.
Forex updates
On Wednesday, the USD rose to 98.65Yen, up 0.3% from late US trade.
The AUD rose 1.0% to $0.7548 after touching $0.7563, its biggest since early October, following the employment data. It also hit a 7-month high of 74.63Yen.
The Kiwi was up 0.9% at $0.5900 and rose 1.3% to 58.17Yen.
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