Foreign Exchange Insights and Next Week
How Quickly Can the Euro be Depreciated?
July 26, 2012
An Op-Ed article by renowned Harvard Professor Martin Feldstein in this past Wednesday’s Financial Times proposes a rapid and extensive debasement of the euro as a possible remedy to preserve the common currency and Spain’s membership in such. One day later, ECB President Draghi promised market players that the central bank will do what is […] More
Central Bank Watch
A Filipino Central Bank Rate Cut Catches Most but Not All Analysts by surprise
July 26, 2012
Bangko Sentral ng Pilipinas has implemented a third 25-basis point cut of its overnight repo and reverse repo rates. The new levels are respectively 3.75% and 5.75%. Similar reductions were announced earlier this year on January 19 and March 1. Policy was not changed at the immediately prior meeting on June 14, but today’s move […] More
New Overnight Developments Abroad - Daily Update
Less Investor Angst than Earlier this Week
July 26, 2012
The dollar and yen have eased in tandem by 0.8% relative to the kiwi, 0.6% versus the Aussie dollar, and 0.5% against the euro, Swissie, loonie, and sterling. The dollar also has edged 0.1% lower against the Chinese yuan. Stocks in the Pacific Rim rose 0.9% in Japan, 0.8% in New Zealand, 0.7% in South […] More
