Skip to main content

Australian Dollar Tumbles On Reserve Comments

Australian Dollar Tumbles On Reserve Comments - The euro fell to a fresh two-month low against a broadly recovering dollar on Friday as a relentless rise in euro zone countries' bond yields fanned worries over their debt financing.

The Australian dollar tumbled after the Australian central bank quashed chances of an imminent rate hike while the yen hit a seven-week low against the dollar, with fresh sabre-rattling by North Korea helping the U.S. currency.

"We've been hearing one piece of bad news after another from the euro zone lately. There's even talk of a breakup of the euro zone," said Tsutomu Soma, manager of foreign securities at Okasan Securities.

A majority of euro zone nations and the European Central Bank are urging Portugal to apply for a financial bailout from a European rescue fund, Financial Times Deutschland reported on Friday. [ID:nLDE6AO26F]

"I think Portugal has already crossed the point of no return. Its bond yield has gone beyond a sustainable level. The market is now watching whether Spain will need a rescue," said a Japanese bank trader.

The euro fell 0.6 percent to $1.3280 EUR=, having fallen as low as $1.3265, its lowest level since late September.

Traders believe the euro will have more opportunities to test the downside, with a break below the latest trough seen putting the single currency's trendline support at $1.3230 as the next target, followed by its 200-day moving average around $1.3135.

Australian Dollar Tumbles On Reserve Comments
Labels:

Comments

Post a Comment

Popular posts from this blog

Farm dogs maul Irish Tourist

Farm dogs maul Irish Tourist - An Irish tourist who was mauled to death by two dogs while visiting an organic farm in Penang yesterday morning had more than 50 bite wounds and lacerations all over his body. Penang Hospital Forensic Department head Datuk Dr Bhupinder Singh, who performed the post-mortem on Maurice Sullivan (pix), 50, today, said he found the wounds on the victim's head, neck, hands and legs. "The victim had died as a result of severe haemorrhage due to multiple injuries from the dogs' bites," he said, adding that there were no signs that Sullivan suffered any ailment at the time of death. Farm dogs maul Irish Tourist Bhupinder also said both Sullivan's ears and the left side of his face were gnawed off in the incident. One of the ears was recovered from the scene. Bhupinder told reporters this after carrying out the post-mortem which began at 10am. Sullivan was attacked by two mongrels at the farm while taking photographs of the gr...
6 comments
Read more

Man Hits Teen on Plane Over iPhone

Man Hits Teen on Plane Over iPhone - Police say a man on a Southwest Airlines flight from Las Vegas punched a teenager who refused to turn off his iPhone as the plane approached the Boise airport. Officers arrested 68-year-old Russell E. Miller, of Boise, on suspicion of misdemeanor battery Tuesday. He has been released from jail on bond. Witnesses told police the 15-year-old was playing games and listening to music on his cell phone when flight attendants instructed passengers to turn off their electronic devices because the plane was landing. Witnesses told police that when the teen didn't respond, Miller got angry and punched the boy in the arm. Miller says he "tapped" the teen on the shoulder after he refused to turn off the phone. He told the Idaho Statesman that he may have "overreacted," but that he did not punch the teen. Man Hits Teen on Plane Over iPhone
5 comments
Read more

Contactless Debit Cards

Contactless Debit Cards - Contactless debit cards will make their formal debut in Canada next year with the launch of Interac Flash from Acxsys Corp.’s Interac Association, Canada’s national debit network. Interac’s first two Flash issuers are Scotiabank and RBC Royal Bank, which will roll out their first contactless cards next summer. The first acquirer is TD Merchant Services, a unit of Toronto-Dominion Bank. More issuers and acquirers are on the way, an Interac spokesperson tells Digital Transactions News, though no announcements have been made yet. Interac and the banks tested Flash this summer at some high-volume, small-ticket merchants in downtown Toronto. The spokesperson expects national merchants will be making formal announcements about acceptance. “There’s a lot of excitement in the merchant community,” she says. “Merchants are looking for that faster throughput.” In a statement, the Retail Council of Canada endorsed the new card. “Interac Flash is a welcome and needed ...
Post a Comment
Read more