Archive for April 25th, 2013

Foreign Exchange Insights and Next Week

Doldrums for Dollar Watchers

April 25, 2013

It’s been another uneventful statement week for key dollar exchange rates.  The Canadian and Australian currencies remain boringly close to parity with the greenback.  The waiting game goes on for the euro, which has averaged $1.3154 thus far in 2013, to break decisively away from $1.3000.  The euro, Swiss franc, sterling, Aussie dollar, Chinese renminbi, […] More

Central Bank Watch

Filipino Central Bank Engineers a Third 2013 Cut of Special Deposit Rate

April 25, 2013

Officials at Bangko Sentral ng Pilipinas left the main monetary policy signals unchanged.  The overnight borrowing rate (reverse repo) stays at 3.5%, while the overnight lending rate (repo) was held at 5.5%.  These rates had been cut four times in 2012 (January, May, July and October) but not subsequently.  As officials had done at previous […] More

New Overnight Developments Abroad - Daily Update

Across-the-Board Declines in the Dollar

April 25, 2013

The dollar has fallen 1.1% against sterling, 0.8% versus the kiwi, 0.5% relative to the yen,  0.4% against the euro and Australian dollar, 0.3% vis-a-vis the loonie and Swiss franc and 0.1% against the Chinese yuan. Holiday closures today are in Australia and New Zealand for Anzac Day, Italy for Liberation Day, and Portugal for […] More