Archive for June 26th, 2008

Currency Markets in the News

Market to Fed: Wake Up!

June 26, 2008

My first reaction to yesterday’s FOMC statement, laid out in Fed Mum This Time on Dollar, was that an opportunity had been dropped to reinforce the new U.S. policy sensitivity to dollar depreciation.  Monetary policy controls the supply-side of money, which must be aligned to demand to safeguard the internal value of that money (measured […] More

New Overnight Developments Abroad - Daily Update

New Developments Abroad

June 26, 2008

The dollar is 0.4% softer against sterling, which was buoyed by Bank of England King’s assertion that his letter on inflation had been meant to be balanced, not dovish as some in the market had perceived it.  The dollar also lost 0.4% against the Swiss franc and is down 0.2% against the euro and by […] More