Stock market

According to a new research by cPacket Networks hackers can exploit high-frequency trading networks to pocket millions of dollars during stock market transactions. Rony Kay, a former IBM research fellow and founder of cPacket Networks, says that the networks used to complete stock market transactions in microseconds, are vulnerable to manipulation by hackers who can inject tiny amounts of latency into them. By doing so, they can subtly change the course of trading to their advantage.

The UK sterling exhibited mixed performance across the board during early European session on Thursday over drop in most European shares caused by fresh concerns about the euro-zone debt problems. The pound thus dropped to an 8-day low against the yen, while staying at a 2-day high against the euro and a session's high against the US dollar.

Wednesday, in early European deals the 16-nation currency advanced, reaching new multi-month highs against its US and UK rivals on the back of a rise in European equities. The euro also climbed to a 12-day high against the franc and hovered near a 2-month high against the yen.

In early European session today, the 16-nation currency lost some ground, slipping against its US, Japanese and Swiss counterparts despite a rise in European stocks. The euro thus eased from a 10-day high against the franc. At the same time, the euro broadly showed choppy trading against the pound.

Thursday, in early European trading the UK sterling that diminished across the board, recovered thereafter versus the currencies of US, Japan and Switzerland. But the pound remained higher versus the euro as the latter was weakened by dismal Eurozone PMI reports. 

The 16-nation currency gained ground across the board in early European deals on Monday, spiking vs dollar, pound and yen as domestic equities soared in early trading as investors remained cautious ahead of Tuesday's Federal Reserve meeting. The euro thus hit a 4-day high against the pound. On the other hand, the euro pared its recent gains against the franc and thus the pair fell to a 4-day low, mainly due to the sharp rise of the Swiss currency in the session.

In early European deals on Friday, the UK sterling appreciated versus its main opponents on rally in regional equities. The pound thus edged up to new multi-week highs against US dollar, franc and yen. 

As for the stocks market, Asian and European soared today as Research In Motion Ltd. and Oracle Corp. reported better-than-estimated profits.

Friday, in early European session, the euro zone single gained ground across the board, spiking versus the currencies of US, Japan and Switzerland. Asian and European stocks prompted traders to buy the risk-sensitive common currency. The euro jumped to more than a 5-week high against the dollar and the yen and near a 1-month high against the franc.

In early European deals on Friday, the Japanese unit slumped across the board on speculation Japan may intervene again in the forex market to weaken the national currency further. The yen thus plummeted to a fresh 4-month low against the aussie, 2-day low against the kiwi and new multi-week lows against the euro, pound and the Canadian dollar. On the other hand, the yen showed choppy trading against the US dollar and Swiss franc today.

The Japanese unit revealed firmness in early Asian session today after slumping Wednesday as Japanese authorities have intervened in the currency market for the first time since early 2004 to delay the yen's rise.

In the equity front, the Japanese shares opened higher today. The benchmark Nikkei 225 index is currently trading at 9,544.81 - up 28.25 points or 0.3% over its previous close.

The Japanese unit plummeted across the board in early Asian deals on Wednesday as Japan intervened in the currency market for the first time since early 2004 to stem the yen's surge against the dollar that threatens a fragile economic recovery.

Central banks intervened in the foreign exchange market when they buy or sell currencies to influence exchange rates.

Monday, in early Asian trading the US currency slid versus its main opponents as investors bet on risk-sensitive currencies on receding worries about the global economy after China reported encouraging economic reports over the weekend and global regulators agreed on new capital rules. The greenback declined to new multi-day lows against the euro and the pound.

The 16-nation currency spiked across the board in early Asian deals on Monday, as upbeat economic reports from China over the weekend added to signs the global economic recovery is gaining momentum. The euro thus jumped to a 6-day high against the dollar, yen and the pound. Meanwhile, the euro recovered from a new record low against the aussie.

In early Asian session on Friday, the Japanese major weakened across the board  after  a government report release  unveiled  that Japan's gross domestic product expanded a revised 0.4% in the second quarter of 2010.

In early Asian deals on Thursday, the Japanese unit gained ground across the board on rally in most regional shares. The yen thus surged to near a 15-year high against the dollar.

Most Asian equities spiked today as European debt woes eased and US stocks closed firm overnight.

Japan's Nikkei 225 index is currently trading at 9,071.46 - up 46.86 points or 0.52% over its previous close.