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Saturday, July 11, 2009

Forex News 11julay,2009

Canadian Dollar Continues Drop as Commodities Price Falter
The Canadian currency ended its sixth week of losses against its U.S. counterpart as commodities and stocks dropped moved by concerns that the global slump will be longer and deeper than previously predicted

Chilean Peso Declines as Interest Rates Reach Record Low
The Chilean peso hit the weakest level in three weeks as the national central bank slashed the benchmark interest rates to a record low for the South American country.

Yen Rallies on Global Slump Insistent Concerns
The yen had one of the best performing days this week as rising concerns that the global slump will be longer than previously expected plagued markets worldwide with high levels of risk aversion, bringing investors to bet on the safety of the Japanese currency.

Euro Falls as Eastern European Economies Shrink
The euro is posting its worst weekly performance against the yen in two months and losing against several major currencies as more than 10 Eastern European nations will need loans to rescue their economies from the rising recession in the region

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