FOREXYARD: Forex News Blog

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Japanese Yen Weakens Whilst Pound Climbs Posted: 18 Apr 2012 07:51 AM PDT The Japanese Yen fell against most of its Major Currency counterparts for the second-day in a row. The Yen weakened after the Bank of Japan mentioned that more stimulus may be required despite the fact that it seems global economic growth is gaining momentum. The Japanese currency took a hit after Bank of Japan Deputy Governor Kiyohiko Nishimura stated that the central bank is prepared to implement additional easing. According to the Bloomberg Correlation Weighted Indexes, among the Ten-developed nation currencies, the Yen has performed the worst  for the past three months. Elsewhere the British Pound appreciated shortly after the Bank of England minutes showing policy maker Adam Posens’ push for another stimulus had come to an end.The Pound appreciated 0.8 percent against the 17-nation euro whilst also seeing gains of 0.4 percent versus the U.S dollar. The Sterling climbed for a second consecutive day against the Euro as a result of Posen joining the majority of the Monetary Policy Committee in indicating no further alterations to the 325 billion pound asset-purchase target.

Australian and NZ Dollar Make Gains Posted: 17 Apr 2012 07:38 PM PDT The Australian dollar appreciated against most of its Major currency counterparts after the International Monetary Fund raised its global economic growth outlook, encouraging demand for high-yielding assets. Australia’s neighbour New Zealand also saw its currency strengthen against both the U.S Dollar and the Japanese Yen. The New Zealand dollar also known as the “kiwi” saw gains as implied volatility of the G7 currencies hit its lowest level in three years. The Kiwi dollar rose 0.1 percent versus the greenback as well as appreciating 0.6 percent versus the Yen.Tuesday’s trading saw the Aussie Dollar gain 0.3 percent against the U.S dollar whilst rallying 0.9 percent versus the Yen. There are a number of financial reports due for release during Wednesday’s trading including Japan’s Trade Balance Report,New Zealand Consumer Price Index,National Australia Bank Quarterly Business Confidence and Bank of Japan Governor Shirakawa is due to give a speech.

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