- The Russian rouble is having a torrid time as sanctions are beginning to effect even the largest of their companies and their ability to raise capital in world markets. Rosneft, the Russian oil company, has had to ask for state help of US$50 billion. Plus the falling oil price is reducing export income at juts the wrong time. The likelihood of a free floating rouble come January 2015 seems a very unlikely reality at this moment in time especially if the next result could be imported inflation
- Thursday saw the Japanese yen continue its up-and-down week as it fell to two-week lows against the US dollar. Earlier in the week uncertainty around the U.S economic recovery had seen demand for the yen (a safe-haven currency) rise. However a report released on Thursday showed that although US initial jobless claims rose last week, the underlying trend pointed towards improvements in the labour markets condition. The dollar was up almost 0.75% against the yen on Thursday, its highest since October 10th.
- The Australian dollar continued to fall against its US counterpart on Thursday, as Wednesday’s US inflation data continued to show support for the greenback. However, there were signs of recovery as export-dominated currencies were assisted by positive Chinese manufacturing data.
Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.