Washington, D.C. – The U.S. Commodity Futures Trading Commission (CFTC) today announced the publication in the Federal Register of final regulations concerning off-exchange retail foreign currency transactions. The rules implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Food, Conservation, and Energy Act of 2008, which, together, provide the CFTC with broad authority to register and regulate entities wishing to serve as counterparties to, or to intermediate, retail foreign exchange (forex) transactions.
Category: Market News
The Euro Rose to a Three-Week High Against the Yen
The euro rose to a three-week high against the yen as the European Central Bank member Jozef Makuch said it is “highly probable” that the bank will raise interest rates next week.
Japan’s currency weakened against all of its major counterparts on the prospect of the Bank of Japan leaving borrowing costs unchanged into 2012. Inflation in Germany stayed at the highest level in more than two years in March, a report is forecast to show today.
Japan Continues Hold the Yen currency
The Japanese government will continue hold the yen after the earthquake and tsunami for some time ago. The measure is on the market, Japan noted the development of its currency and trade with partners in the G-7 if necessary.
At a time when overall response times for the first time since 2000, a group of seven countries to sell the yen on Friday, March 18, 2011, reached unprecedented levels after the currency reform. Conditions that exports from Japan and other trade agreements, which could jeopardize the success of the Japanese economy after a disaster.
Euro Slides as Moody’s Cuts Portugal’s Credit, Technical Momentum Wanes
The euro halted three days of gains versus the dollar as Moody’s Investors Service downgraded Portugal’s credit rating, reviving concern about Europe’s ability to solve its debt crisis.
The 17-nation common currency depreciated versus all but two its major counterparts after Portugal was cut two steps by Moody’s yesterday to A3, four steps from so-called junk status. The rating company said its outlook remained negative given Portugal’s “subdued growth prospects” and risks that the government won’t be able to implement deficit-reduction plans.
Stocks Rally After Three-Day Slide; Oil, Commodities Advance, Euro Weakens
Global shares rallied for the first time in three days as the Nikkei 225 (NKY) Stock Average rebounded from a slump that sent valuations to a 28-month low and commodities gained. The dollar climbed versus the yen as fires at a Japanese nuclear plant hampered efforts to avert a meltdown.