Currency Markets in the News
Bank of Japan Abandons Rate Hike Bias
May 5, 2008
Since ending in 1Q06 their five-year long policy of zero short-term interest rates and heavy injections of excess liquidity, officials at the Bank of Japan had not hidden their intention to gradually return short term interest rates to normal and higher settings. Target rate increases of 25 basis points were implemented in July 2006 and […] More
Currency Markets in the News
Soft Japanese Economic Trends
May 5, 2008
Japanese growth has slowed despite better functioning financial markets than in Europe or the United States. Following the introduction of more stringent building codes, residential housing dropped by 16.4% at a seasonally adjusted annual rate in 2Q07, by 29.4% saar in 3Q07 and by 32.3% saar in 4Q07. Earlier strong corporate profits never trickled down […] More
New Overnight Developments Abroad - Daily Update
New Developments Abroad
May 5, 2008
After a solid week, the dollar opened Monday with broad but mild losses. The kiwi and Aussie dollar, both up 0.5%, are the main beneficiaries. The dollar also dipped 0.3% against the euro and by 0.1% against the yen, Swissy, and C-dollar. Greenback’s only gain is 0.2% versus sterling. Japan was closed today and will […] More
