Foreign Exchange Insights and Next Week
Weekly Foreign Exchange Insights: May 22nd
May 22, 2009
Dollar karma has deteriorated sharply since the last Insights piece two weeks ago. The U.S. currency lost more than 4.0% this past week against many currencies, including the pound, euro, and several commodity-sensitive units. More importantly, market chatter is warning of a potential large depreciation, and the dollar has dropped in spite of wobbly equity […] More
Central Bank Watch
Bank of Japan Upgrades Assessment, Leaves 0.1% Rate Target
May 22, 2009
The target for overnight call money will remain at 0.1% where such has been since being cut from 0.3% on December 19th. The rate vote, after five hours and 42 minutes of deliberations over two days was 8-0. All rate votes since December 2007 have been unanimous. The BOJ expanded eligible collateral to include sovereign […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Dollar Hits Multi-Month Lows
May 22, 2009
Market chatter is full of talk about a new paradigm in which dollar, stocks, and bonds fall in tandem on frustration about massive U.S. deficit spending amid continuing weak economic growth. Boston Fed President Rosengren made downbeat remarks about a possible U.S. recovery. Bernanke gives a commencement address today at the BC law school. Euribor […] More
