Sterling Getting Stoned Again
October 13, 2009
Before the modern dollar-centric era, sterling ruled the high seas of the international monetary system. The legacy of that era is a very large amount of offshore sterling holdings that make Britain’s currency an easy target for speculators. The pound is no stranger to currency market misfortune, and the lesson of that history is that […] More
Central Bank Watch
No Changes Made This Month in Sri Lankan Policy Interest Rates
October 13, 2009
The Central Bank of Sri Lanka has interrupted the easing of its benchmark repo rate with more pauses in 2009 than the typical central bank. The rate was reduced by 50 basis points to 8.0% last month but not changed today after the October meeting. No change was instituted either in March, July or August. […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Dollar and Sterling Slide Further, Gold and Oil Higher
October 13, 2009
The dollar is unchanged against the pound but down 0.8% against the kiwi, 0.6% relative to the Canadian dollar, 0.5% against the Swiss franc, 0.4% against the euro and Australian dollar, and off 0.3% against the yen. Gold advanced 0.9% and is trading at a record high of $1067.30 per ounce. Oil firmed 0.9% as […] More
