Mervyn King

Mixed Dollar Ahead of GDP Release and 5-Year Treasury Auction

June 26, 2013

The dollar rose overnight by 0.4% against the euro and sterling, 0.2% relative to the Swiss franc and kiwi and 0.1% against the yuan.  The dollar also lost 0.4% versus the Canadian dollar and yen and 0.5% against the Australian dollar. Chinese money markets are showing less strain but still not back to normal. Former […] More

A Day of Big Events

March 20, 2013

The proposed levy on Cypriot bank deposits was rejected by that country’s parliament by a vote of 36 to zero with 19 abstentions.  Tremendous uncertainty surrounds the scramble for an alternative plan to secure bailout aid and how this development might hurt the post-OMT stabilization of Ezone and global financial markets.  Cyprus constitutes just 0.2% […] More

Friday Profit-Taking

March 15, 2013

The dollar and stocks are lower this Ides of March. The dollar fell 0.5% against the yen, euro and Swiss franc but is unchanged versus the yen and yuan.  The greenback dipped 0.1% against the loonie and kiwi and firmed 0.1% relative to the Australian dollar. Whereas Japan’s sizzling Nikkei rally was extended by 1.5%, […] More