Mar8

Brazil’s Real Down as Traders Await End of Greek Troubles

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100 and 50 Brazilian real notesThe Brazilian real dropped today as uncertainty about an outcome of the conversation about reduction of Greek debt made traders sell riskier currencies and stick to safer assets.

The tale of Greek debt was dragging for too long and Forex traders are worried that it may end with a disorderly default. There were some positive macroeconomic indicators from Europe, but that wasn’t enough to alleviate fears. All currencies, apart from for safer ones, usually suffer in times of uncertainty and Brazil’s real behaved according to this rule today.

USD/BRL climbed from 1.7165 to 1.7280 as of 16:18 GMT today. The currency pair has reached 1.7179, more than a three-month low, on February 3.

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Jan14

FOREX-Euro short-squeeze rally on hold; eyes on debt auction, data

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TOKYO, Jan 4 (Reuters) – A small-squeeze revive in the euro stalled in Asia on Wednesday ahead of debt auctions in Germany, with market players dubious about the euro zone’s plans to fend off a independent debt crisis as some countries face huge debt refinancing needs.

The euro is meeting resistance after posting its largest one-day revive in nearly two months on Tuesday as investors heavily trimmed bearish positions in the common currency after upbeat data bolstered risk appetite. Click here to read more.. »

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Jan14

FOREX-Euro’s bounce from 16-month low unlikely to last

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LONDON, Jan 9 (Reuters) – The euro crawled back from a fresh 16-month low to the dollar on Monday as traders trimmed small positions, but further declines were anticipated as worries over independent funding and prospects for the euro zone state kept most investors bearish.

Markets were awaiting a meeting linking German Chancellor Angela Merkel and French Head Nicolas Sarkozy where they will chat about ways to boost growth and finalise details of a deal to increase monetary coordination in the euro zone. Click here to read more.. »

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Jan14

Forex trade emails cast doubt on SNB’s Hildebrand

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ZURICH (Reuters) – Switzerland’s central bank was seeking a new leader on Tuesday to contain the strength of the country’s safe-haven franc after apparently forcing out Chairman Philipp Hildebrand when emails failed to clear him of involvement in a currency trade by his wife.

The supervisory council of the Swiss National Bank, which has to propose a new entrant for the SNB’s three-person governing enter to the Swiss government, made no statement after a six-hour meeting on Tuesday, keeping up tension on who will now steer the franc owing to an unprecedented period of strength. Click here to read more.. »

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