Archive for September 16th, 2009

Currency Markets in the News

Japanese Finance Minister Fujii's First Time on the Job

September 16, 2009

Finance Minister Hirohisa Fujii made a stir already with comments that yen strength would not be resisted and an agenda to launch macroeconomic measures that will encourage a rotation of growth away from exports and investment and toward personal consumption.  Some analysts are declaring the death of the yen carry trade.  Japanese interest rates remain […] More

Dollar's Capital Flow Support Diminishing

September 16, 2009

Released capital flow data from the U.S. Commerce and Treasury Departments today shed light on why the dollar has been struggling despite a greatly reduced current account deficit.  The current account shortfall last quarter dipped under $100 billion for the first time since the quarter of the 9/11 attacks and equaled 2.8% of GDP, slightly […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: New Era in Yen Management Begins

September 16, 2009

The dollar has fallen 1.0% against the kiwi and 0.8% against the Australian dollar and yen.  The kiwi and Aussie hit new 2009 highs of USD 0.7140 and USD 0.8729.  Japan’s DPJ-led cabinet was announced, including Fujii as finance minister, Kamei and banking minister, Hirano as chief cabinet secretary and Hatoyama as prime minister. Fujii […] More