recent forex news

POUND
Sterling is trading slightly down against the Euro this afternoon but remains within 1.57 against the USD. Concerns that the UK economic outlook will deteriorate further as a result of the euro zone debt crisis is continuing to heat up . Mervyn King said yesterday that UK banks should build up capital to insure against the “exceptionally threatening” situation developing in the Euro zone which could well halt growth in the UK economy.

Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 4 p.m. in New York.

The Canadian dollar jumped by the end of this trading week as Europe moved closer to resolution of the sovereign-debt crisis, while the confidence of US citizens improved. Earlier, the currency declined, dragged down by fears that the European Union wouldn’t make headway with battling the crisis.

US dollar is gaining today, heading higher as concerns in the eurozone once again take center stage. The latest concern is the announcement by Moody’s that it will review European countries — and possibly make some downgrades.

The Canadian dollar wasn’t performing well recently, at least against the dollar and the yen. Can the currency improve its behavior in the near future? It’s possible, but not probable. The performance against the euro and other growth-related currencies is another matter.