** YoY = Year over Year ** MoM = Month over Month | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
USD The US Dollar fell the to the Yen, was flat to the Euro and rose against all the rest on Tuesday after Federal Reserve Chairman, Ben Bernanke, was reappointed to another term causing investors to feel confident in taking on bigger risks. The news came on the heels of an up tick in consumer confidence numbers and the second straight month of rising home prices which also contributed to investor sentiment. Trading was unusually thin as many traders took a break from the markets in the traditional end-of-summer slowdown. At 11:00 PM GMT, the Dollar was down .05% to the Euro to 1.4306, down .5% to the Japanese Yen to 94.1, up .4% to the British Pound, up .75% to the Canadian Dollar to 1.0853, up .4% to the Australian Dollar to .836, up .2% to the New Zealand Dollar to .6841 and down .04% to the Swiss Franc to 1.0607. EUR The German government’s independent economic oversight agency confirmed that the economy did indeed grow by .03%, signaling a technical end to the recession. The Euro did not respond to this news, again on light trading, as investors concerned with the other 26 nations in the Eurozone as well as the long road that the German economy has to a practical recovery in which growth is not minute, rather significant. At 11:15PM GMT, the Euro was down .45% to the Japanese Yen to 134.63, .45 to the Sterling to .8747, up .9% to the Canadian Dollar to 1.5538, down .09% to the Swiss Franc to 1.5181 and up .1% to the Australian Dollar to 1.7102. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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