By Yumi Kuramitsu Aug. 29 (Bloomberg) — Singapore, a city-state with gross domestic product one 40th that of Japan, is poised to overtake Tokyo as Asia’s biggest currency trading center, fueled by investor demand for emerging-market assets. China and India are luring funds from Japan as investors seek bigger returns in the world’s fastest-growing major [...]
It is the third day in a row of the real weakening against the dollar. After gaining over 14% in the last year real fell 0.4% to 2.1604 from 2.1516 per dollar. Fundamentals are breaking down in Brazil as the unemployment rate is it it’s highest in over a year. The budget surplus also came [...]
With hyperinflation in Zimbabwe, the Reserve Bank of Zimbabwe was forced to devalue the Zimbabwe dollar. Three zeros are being cut off the country’s banknotes, and August 21st was the last day to turn in the old currency. Many problems arose as people could only cash in 5 billion Zimbabwe dollars (~$200 value). The rest [...]
EUR/JPY pushes up 160 pips since Friday morning (100 pips this morning) to 149.73, making a new all-time high. Most currencies rallied against the dollar, but the Bank of Japan said it will move slowly before hiking rates again. This along with rising oil costs keep the Yen down.
Starting at approximately 2:30 AM EST, after details were leaked about the new Convergence Programme report due to be submitted to the EU on September 1, the EUR/HUF moved 470 pips to 279.20, retracted and moved up to a new high at 279.61. The report is worse than expected with public debt likely to stay [...]
Make your Money Go Further
Our monthly reports tell you what countries and currencies offer the best deals. Travel and buy smart!