Archive for April 29th, 2011

Foreign Exchange Insights and Next Week

Next Week

April 29, 2011

A number of European centers will be closed Monday for May Day.  Then Japan closes Tuesday for Constitution Day, Wednesday for Greenery Day and Thursday for Children’s Day as the Golden Week holidays continue.  It will be a fairly busy week nonetheless.  Central bank meetings are planned for Australia, the Philippines, the ECB, the Bank […] More

Foreign Exchange Insights and Next Week

How Soon Might the Dollar Hit Bottom?

April 29, 2011

Answering the above question starts with Fed policy.  At Wednesday’s press conference, Fed Chairman Bernanke showcased an impressive mastery of many policy issues and a blatant disregard for the weakening dollar that left financial market participants more convinced than ever that U.S. officials will take no action to stop its fall.  The Chairman insisted that […] More

Central Bank Watch

Russia and Vietnam Get Tighter Monetary Policies

April 29, 2011

Russia and Vietnam have been coping with very elevated inflation even by the standards of mounting commodity-fueled price pressures found in most countries these day.  Today, the State Bank of Vietnam lifted its seven-day refinancing rate to 14% from 13%, the fourth hike of a percentage point so far this year.  Vietnam’s discount rate also […] More

New Overnight Developments Abroad - Daily Update

Dollar Again Lower

April 29, 2011

The dollar has fallen 0.8% against the Swiss franc and by 0.4% versus the kiwi, 0.2% relative to the yen, yuan and euro and 0.1% against the Canadian dollar, Australian dollar, and sterling.  The yuan is stronger than CNY 6.500 for the first time since 1993, reaching as far at 6.4892. President of the Swiss […] More

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