Archive for December 18th, 2009

Videos

Interview Discussing Policies of the Swiss National Bank and Bank of Japan

December 18, 2009

Click here for my interview with ForexTV discussing the franc’s appreciation though 1.50 per euro, what the Swiss National Bank might do in response, and the Bank of Japan’s declaration of war against deflation. More

Central Bank Watch

Central Banks in Colombia and Philippines Leave Key Rates Unchanged

December 18, 2009

The Bank of the Republic of Colombia kept a 3.5% benchmark interest rate.  Amid falling inflation and a recession that’s now over, the rate was slashed from a peak of 10% by 50 basis points in December 2008, 50 bps in January, 100 bps in each of the next four consecutive months, 50 bps in […] More

Foreign Exchange Insights and Next Week

Next Week

December 18, 2009

Japanese markets close next Wednesday for the Emperor’s Birthday holiday.  Many Continental European centers will shut either for all or part of Thursday.  Japan will be one of very few open markets on Christmas Day, and is making the most of the opportunity, as that day will see the release of consumer prices, labor statistics, […] More

Foreign Exchange Insights and Next Week

Weekly Foreign Exchange Insights: Shifting Themes as Yearend Beckons

December 18, 2009

The dollar experienced a third straight well-bid week, shrugging off a seasonal tendency in many previous years to swoon in late December.  The U.S. currency had weakened during the bulk of 2009, posting peak-to-trough declines of 20.7% against sterling, 17.7% against the euro and 17.1% relative to the Swiss franc.  The depreciation had been characterized […] More

Central Bank Watch

Bank of Japan Review

December 18, 2009

Following five hours and 35 minutes of deliberations over two days in its final meeting of 2009, the Bank of Japan Policy Board decided unanimously to leave its target for uncollateralized overnight money at a rate of 0.1% and retained the prior assessments that 1) economic activity is “picking up” and likely to improve at […] More

New Overnight Developments Abroad - Daily Update

Bank of Japan Unveils New Policy Guidelines

December 18, 2009

The yen fell 0.5% against the dollar and by more against other currencies overnight.  The greenback otherwise lost 0.7% against the Canadian dollar, 0.4% against the Aussie dollar and Swiss franc, 0.3% against the euro and sterling and 0.1% against the kiwi. Stocks mostly fell in Asia but show gains in Europe.  In sympathy with […] More

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