We have updated our privacy policy and terms & conditions. Find out more here.
1
 

Forex - Dollar mostly higher as EU keeps pressure on Cyprus

By Investing.com  |  Forex  |  Mar 19, 2013 01:18AM GMT  |   Add a Comment
 
AA
+
-
Investing.com - The U.S. dollar is mostly higher against its major rivals in Tuesday’s Asian session as European policymakers continue to apply pressure to their Cypriot counterparts to raise funds to save the country’s ailing banks.

In Asian trading Tuesday, EUR/USD inched higher by 0.03% to 1.2962 as euro zone finance chiefs pushed Cyprus to raise EUR5.8 billion to tap emergency funding, which could help the island nation avert potential financial disaster.

Forex - Dollar mostly higher as EU keeps pressure on Cyprus
Last week, the European Union and the International Monetary Fund approved a plan to force Cyprus to tax all bank deposits of less than EUR100,000 at a rate of 6.75% and deposits above EUR100,000 at a rate of 9.9%.

EU officials have since backed away from the plan to tax small Cypriot depositors, but one official said the EUR5.8 billion target could be reached by taxing deposits north of EUR100,000 at a rate of 15.6%.

After the yen gained some strength on Friday and Monday, USD/JPY is higher by 0.26% at 95.47 today. The yen was boosted on Friday and somewhat on Monday due to its safe-haven appeal. Traders see Japan’s current-account surplus as one reason to embrace the yen when risk appetite falters.

GBP/USD fell 0.01% to 1.5107 while USD/CHF rose 0.02% to 0.9462. USD/CAD is flat at 1.0218 even after Saudi Arabian oil minister Ali al-Naimi said oil prices at current levels should not hamper Asian growth. al-Naimi said crude at $100 per barrel is a reasonable price. Oil prices are trading slightly higher in Asia on those comments.

AUD/USD is up 0.02% at 1.0403 after Reserve Bank of Australia deputy governor Dr. Philip Lowe said the strong Aussie has been good for the nation’s economy. NZD/USD is flat at 0.8266 while the U.S. Dollar Index if off 0.01% at 82.85.


Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Related Articles

Add a Comment

 

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

NZD/USD
 
 
 
Are you sure you want to delete this chart?
 
 
 
Are you sure you want to delete this chart?
 
 
 

Successfully Reported

Thank you. This comment has been flagged for a moderator.
_touchLoadingMsg