Currency Markets in the News
Is the Dollar Getting Too Strong?
October 20, 2008
If the U.S. recession were not associated with dysfunctional credit markets and if other economies were not also in recession, the dollar would be falling and providing needed support for net exports by enhancing the competitiveness of U.S. exports in foreign markets and of domestically produced goods that face imported competition. Economists call such mechanisms […] More
Bank of Canada to Cut Rates Tuesday
October 20, 2008
The seventh of eight scheduled Bank of Canada interest rate policy announcements at 13:00 GMT on Tuesday will contain a target rate cut of at least 25 basis points and probably one of a half-percentage point to 2.0%. In an unscheduled and coordinated move on October 8th, the Bank of Canada was one of seven […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Money Market Tensions Ease a Little Further
October 20, 2008
Stocks rose in most Asian markets and Europe, and the dollar and bond yields are lower amid a further drop in money market spreads. There has been a positive response to a report that some large U.S. banks have lent funds to European counterparts. The dollar fell 1.4% against the Australian dollar, 0.8% versus sterling, […] More
