Dollar in weakest position against Polish zloty in 11 years
Created: Thursday, September 20. 2007
Another wave of dollar sell-offs, which could be observed on the currency market Thursday morning, has also influenced the dollar to zloty exchange rate, which after 9 a.m. reached a rock-bottom 2.6803 zloty, making it the lowest since 3 June 1996.
Thursday's US currency sell-off is still a consequence of the Tuesday decision made by the American Federal Open Market Committee (FOMC), which lowered the rate of federal funds by 50 base points.
In the coming hours the USD/PLN exchange rate should follow closely the changes on the Eurodollar market.
An increase of this pair will lead to a further strengthening of the Polish zloty, say analysts.
Today’s strengthening of the Polish zloty against the dollar is accompanied by a stabilization of the EUR/PLN exchange rate.
Forex - US Dollar Edges Down Against Polish Zloty [USD/PLN]
9/13/2007 4:12:30 AM The US dollar moved slightly higher against the Polish zloty in the early deals on Thursday and hit as high as 2.7193 by about 2:15 am ET. However, the pair lost ground thereafter and reached 2.7100 at about 4:10 am. The US August Retail sales data is expected tomorrow.
Forex - Dollar Mixed Against Southeast Asian Currencies []
9/13/2007 4:00:58 AM The U.S. dollar showed a mixed performance against the Southeast Asian currencies on Thursday. During the early deals, the U.S. dollar drifted lower against its Singapore and the Malaysian counterparts and touched the new multi-day lows, but it advanced versus the Hong Kong dollar. However, the dollar reversed the trends shortly. Against the Thai Baht, the dollar moved sideways.
On the other hand, the dollar traded in a loose range versus the Indonesian Rupiah, but it dropped against the Philippine Peso and the South Korean Won. Against the Indian Rupee, the dollar largely moved sideways during the session.
The U.S. monthly budget statement for August and the initial jobless claims are expected later in the morning.
In the early Asian deals on Thursday, the U.S. currency weakened versus the Singapore dollar. After touching a low of 1.5108 by about 9:40 pm ET Wednesday, the Greenback partly bounced back and then moved sideways. As of now, the pair has been trading near 1.513.
The U.S. currency showed choppy trading against the Hong Kong dollar in the early Asian deals on Thursday. However, at about 8:25 pm ET Wednesday, the Greenback made a sharp spike higher and thus the pair climbed from 7.7871 to 7.7915 within an hour. Soon after, the pair lost ground and it is currently trading near 7.789.
During the Asian deals on Thursday, the U.S. dollar moved between 34.24 and 34.26 versus the Thai Baht. At about 12:15 am Eastern Time, the dollar slid briefly and touched 34.23. But the pair reversed the losses thereafter and moved sideways. As of now, the pair is trading at 34.26.
The U.S. dollar edged lower against the Malaysian Ringgit during the early Asian session on Thursday and hit a low of 3.4835 at 8:30 pm ET Wednesday. Thereafter, the dollar gained ground and fetched 3.4955 by about 2:05 am ET, before it declined again. Currently, the pair has been trading near 3.487.
In the early Asian deals on Thursday, the U.S. dollar held steady at 0.9421 versus the Indonesian Rupiah. However, the dollar slipped by about 9:05 pm ET, but it rebounded soon after and entered a loose range limited between 0.9405 to 0.9421.
Against the Philippine Peso, the U.S. dollar declined in the early Asian deals on Thursday. The pair touched a low of 46.45 at 9:50 pm Eastern Time Wednesday. The dollar then traded in a loose range and the pair has been currently trading near 46.6.
After a brief downtrend, the U.S. dollar held steady versus the Indian Rupee during the early Asian deals on Thursday. But by about 10:25 pm ET Wednesday, off 40.20 the dollar strengthened to 40.67. However, the pair edged down thereafter and moved between 40.18 to 40.45.
Drifting lower in the early Asian deals on Thursday, the U.S. dollar fetched 929.30 against the South Korean Won at 9:00 pm ET Wednesday. This was the new 1-month low for the pair. The dollar then partly reversed the losses and held steady at 931.51.
Forex - Dollar Falls Against Slovak Koruna [USD/SKK]
9/13/2007 3:57:51 AM The US dollar drifted higher against the Slovak koruna in the early deals on Thursday. Up from yesterday's close of 24.1860, the pair fetched as high as 24.2330 by about 3:15 am ET. Thereafter, the dollar lost ground and equaled 24.1760 as of 3:50 am against the Slovak koruna
