Archive for May 19th, 2008

Currency Markets in the News

Bank of Japan Policy Preview

May 19, 2008

No chance whatsoever exists that this week’s 2-day interest rate meeting will change the 0.5% target for overnight money. The decision will be announced about 14 hours from now. This will be the 19th consecutive meeting that adopts a target of 0.50%, and the seventh straight unanimous vote. Real GDP growth of 3.3% in 1Q08 […] More

24-Year High for Aussie Dollar

May 19, 2008

The Australian dollar touched $0.9571 earlier today, stronger than any level since March 1984. Local monetary officials have served notice that the benchmark cash rate of 7.25% will not be reduced anytime soon despite evidence of cooling domestic demand. The policy bias in fact remains to the upside. A hike would be warranted if either […] More

New Overnight Developments Abroad - Daily Update

New Developments Abroad

May 19, 2008

There have been hardly any significant developments abroad to start the new week, data-wise or official comment-wise. The Aussie dollar hit a 24-year high of $0.9571 and shows a 0.2% gain on net. U.S. dollar also is 0.6% lower against the Canadian dollar and -0.2% versus the kiwi. Gold jumped 1.1% and is 6.7% firmer […] More