The South African rand was down today as Fitch Ratings changed outlook for South Africa’s sovereign credit rating to negative, reducing attractiveness of country’s assets to investors.(...)
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The South Korean won gained today as the nation’s central bank maintained its main interest rate to rein inflation and support country’s economic growth.(...)
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Even though the trade deficit unexpectedly widened in November, the US dollar is moving higher today. For the most part, US dollar is gaining as uncertainty prompts a certain degree of risk aversion. With rumors of an imminent French downgrade, a disappointing Italian debt auction, and worries about banks, it is little surprise that safe havens like the US dollar are in demand.

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There were high hopes for the latest Italian debt sale, but they were disappointed. Indeed, even though Italian debt costs dropped below 5 percent, the sale failed to raise the kind of money needed to overcome some of the budget woes. As a result, the euro is down against its major counterparts.

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The Japanese yen fluctuated, demonstrating a downside bias, as today’s reports from the United States are expected to be mixed. The yen slid versus the euro today on signs of stabilizing economic situation in Europe.(...)
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The Canadian dollar slumped against the euro yesterday as comments of European Central Bank President Mario Draghi boosted the shared European currency, while US retail sales were below forecast. Canada’s currency was flat against the US dollar.(...)
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