Archive for May 22nd, 2008

Currency Markets in the News

The French View of Foreign Exchange

May 22, 2008

Fixed dollar exchange rates, the keystone of the postwar Bretton Woods international monetary system, were abondoned in 1973. The two governments that most strongly resisted that change 35 years ago belonged to Japan and France, and among G7 countries they continue to mistrust markets to determine something as important as currency exchange values. The French […] More

Larry's Blog

Press Coverage of FOMC Minutes

May 22, 2008

The Financial Times, Wall Street Journal and New York Times found essentially the same message in minutes from the April 30th meeting. The operative mode of policymaking these days is balancing conflicting priorities, and that translates into a freeze on the present policy for quite sime time. The balancing act has two dimensions, first between […] More

New Overnight Developments Abroad - Daily Update

New Developments Abroad

May 22, 2008

The dollar has risen against most currencies but remains below levels at this time yesterday across the board. Since late in Wed N.Y. trading, the greenback shows gains of 0.3% against the yen and Swissy, 0.2% against the Aussie dollar and euro, and 0.1% versus the Canadian dollar. The kiwi jumped 1.0% in reaction to […] More