The euro has fallen against the yen to the lowest it's been in ten years and the lowest it's been to the U.S. dollar in nearly 12 months as the European Central Bank lent a record-setting amount of money to regional banks in order to keep credit active, according to Bloomberg.
According to a Japanese official working in New Delhi, India and Japan have agreed to a $15 billion currency swap, a move which is expected to help the struggling Indian rupee, the worst-performing currency in Asia this year, Reuters reports.
As oil prices fell below $100 a barrel on Wednesday, the euro retreated to an 11-month low against the U.S. dollar after the drop in short-term Italian borrowing costs faded, according to Reuters.
Yields on Mexican bonds fell to their lowest level in two weeks as a consequence of interest in currencies that have less volatility.
The metric that tracks the strength of the U.S. dollar when compared with six rival currencies is poised to drop to its lowest level in one month, according to a researcher.
Three weeks of losses are likely to continue on the Dollar Index if the metric falls lower than the 200-day moving average, according to a technical analysis performed by Commerzbank.
The leading contender to emerge as chief of the International Monetary Fund is Christine Lagarde, the French finance minister.
© 2011 Capital Market Services, LLC. All rights reserved.