The Russian ruble was removed after the oil has been recovered by the third day of optimism for the world economy, making Russia's currency is more interesting for investors who are willing to risk in search of higher yields.
Futures for delivery of crude oil in October rose 2.2 percent to $ 87.26 a barrel in New York. Optimism, caused by Bernanke's speech on Friday, boosted products. The positive report on personal income and spending in the U.S. was very useful. Crude oil is the main source of export earnings from Russia.
Investors bet on Russia's currency will decline in spite of some positive fundamentals. The oil can be removed if the Energy Department report tomorrow will show U.S. inventories crude oil rose last week.
USD/RUB trade near 28.7875 today as of 2:29 GMT after opening at 28.7855 and falling to 28.7765.
The South KoreThe Canadian dollar gained, reaching the highest level in over a week against the dollar, stocks and commodities rose, so the growth-linked currency attractive to investors.
The Federal Reserve, Ben S. Bernanke boosted optimism in the markets last Friday and still persists. The Standard & Poor's 500 index rose to 2.8 percent. Futures for October delivery crude oil (the main export of Canada) gained 2.5 percent to $ 87.52 a barrel in New York.
Market sentiment became even better as the report showed that personal spending in the U.S., Canada's largest trading partner, increased 0.8 percent in July compared with the average forecast 0.5 percent and falling 0.1 percent in June. The report this week by Statistics Canada is expected to show growth of Canada's gross domestic product by 0.2 percent in June after falling 0.3 percent in May.
USD/CAD traded at 0.9764 today as of 1:18 GMT after it fell yesterday from 0.9795 to 0.9767, while touching 0.9738 during the day — the lowest level since August 4. EUR/CAD fell from 1.4203 to 1.4171 on the previous trading session and traded near 1.4167 today. CAD/JPY traded at about 78.66 after rising from 78.21 to 87.61.
The South Korean won gained nowadays because the comments of the Federal Reserve, Ben S. Bernanke, on Friday increased risk appetite among participants within the Forex market, enhancing the charm of higher-yielding currencies.
Bernanke created comments on 26th August on the flexibility of U.S. to support the expansion of its economy within the long haul. The markets reacted absolutely and traders began their hunt for higher yields. South Korea's trade surplus widened to $9.94 billion in July from $2.03 billion in June.
USD/KRW fell from 1,080.10 to 1,073.50 today as of 13:46 GMT.
The South African rand met currently, reaching its highest level in additional each week against the U.S. dollar, as stocks and advanced metals, when speaking of the Federal Reserve, Ben S. Bernanke last week.
Bernanke said Friday that the Fed has recommended that to support the expansion of the U.S. economy, improved market confidence. the most stock index in South Africa rose one.7% prices the London Metal Exchange rose for the fourth consecutive day. The South African economy is administrated isn't pretty much as good, however, and lots of investors are convinced that the country's central bank might cut back interest rates.
USD/ZAR fell from 7.1300 to 7.0810 today as of 9:56 GMT and touched 7.0680 — the lowest level since August 17.
