The broad selloff in the yen stalled early in Asia on Friday as investors took profit on short positions following a major aftershock in northeast Japan, while comments from the European Central Bank head saw the euro retreat from 14-month highs. The euro last traded just under $1.4300, having slipped to a low of $1.4240, down from a 14-month peak around $1.4350 set on Wednesday.
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The Australian Dollar was up against the Euro and down against the Japanese Yen, with EUR/AUD shedding 0.23% to hit 1.3696 and AUD/JPY falling 0.81% to hit 88.54. The Australian dollar has broken all expectations, gaining to the record its highest level against its U.S. counterpart since it began trading in 1983, while traders performed carry trades techniques, by which the yen is sold in favor of currencies that hold higher interest rates or other higher-yielding assets.
The Aussie has continued its gains against its US counterpart, recording a new record high at 1.0436.
As for the unemployment rate drop noted on the Australian currency, the AUD has witnessed a significant increase against the US dollar and other major currencies, with an increasing number of new jobs expected; indications to both growth and inflation in the Australian economy and thus increasing demand for the Australian currency.
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And now for both gold and silver:
Gold is at its highest with no end in sight. Silver price wayback in 2004 was around 6$ and now it is at crazy, I mean crazy levels with not downward in site at at 39$. At Ft.com:
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The Australian Dollar was up against the Euro and down against the Japanese Yen, with EUR/AUD shedding 0.23% to hit 1.3696 and AUD/JPY falling 0.81% to hit 88.54. The Australian dollar has broken all expectations, gaining to the record its highest level against its U.S. counterpart since it began trading in 1983, while traders performed carry trades techniques, by which the yen is sold in favor of currencies that hold higher interest rates or other higher-yielding assets.
The Aussie has continued its gains against its US counterpart, recording a new record high at 1.0436.
As for the unemployment rate drop noted on the Australian currency, the AUD has witnessed a significant increase against the US dollar and other major currencies, with an increasing number of new jobs expected; indications to both growth and inflation in the Australian economy and thus increasing demand for the Australian currency.
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And now for both gold and silver:
Gold is at its highest with no end in sight. Silver price wayback in 2004 was around 6$ and now it is at crazy, I mean crazy levels with not downward in site at at 39$. At Ft.com:
The silver market is likely to continue its spectacular ascent and to touch a record high at more than $50 a troy ounce this year – but could then crash back to earth, according to new forecasts by GFMS, a leading precious metals consultancy.
The grey precious metal has soared 121 per cent during the past 12 months to touch a 31-year peak of $39.73 this week as investors, disillusioned at the actions of central banks and governments, bought it as an alternative to paper currencies.