Currency Note Worldwide

Emerging market currencies have a good day

By Smart Currency January 29th, 2014

The Canadian dollar weakened following increased buying of the US dollar and subsequently fell against sterling.

The Japanese yen’s recent slump against sterling seemed to level off yesterday although it continued to fall against the dollar. Retail sales and foreign investment figures due to be released today will have the biggest effect on the strength of the yen.

The rupee saw its most significant increase in value against sterling for two months after the Reserve Bank of India unexpectedly put up interest rates. With the US Federal Reserve due to conclude a two day meeting tomorrow, the rupee could see further increases if the Federal Reserve announces further tapering to their economic stimulus package.

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