Foreign Exchange Insights and Next Week
Next Week
July 3, 2009
At least seven central banks hold interest rate policy meetings next week — those in Australia, Britain, South Korea, Colombia, The Philippines, and Chile — but only the final three on that list are considered likely to change policy. The Bank of Japan holds a quarterly branch managers meeting at which Governor Shirakawa will be […] More
Central Bank Watch
Indonesian Policy Interest Rate Cut to 6.75% from 7.0%
July 3, 2009
Bank Indonesia implemented its eighth interest rate reduction since December 4th and fourth 25-bp move in a row as analysts had expected. A signal that this string of cuts is drawing to a conclusion was also anticipated. A statement from officials of the central bank advised that “future monetary policy would pursue a more prudent […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Service PMI Readings Released
July 3, 2009
Commodity-sensitive currencies are higher. The U.S. dollar lost 0.5% against the kiwi and 0.3% against the Canadian and Australian currencies. The dollar otherwise rose 0.5% against sterling and 0.4% against the Swiss franc, which continues to be rattled by the threat of Swiss intervention. The dollar edged up less (0.1%) against the yen and euro. […] More
