Archive for October 21st, 2010

Deeper Analysis

Looking Back at the Plaza and Louvre Currency Accords

October 21, 2010

A meeting of G20 finance ministers this Friday and Saturday in South Korea has conjured up special interest in the Plaza Accord of September 22, 1985 and the Louvre Accord of February 22, 1987.  Both agreements constituted efforts to shift currency market momentum. The dollar became very overvalued in the first half of the 1980s […] More

New Overnight Developments Abroad - Daily Update

Euro Up Despite Geithner Remarks

October 21, 2010

U.S. Treasury Secretary Geithner reiterated that the dollar is fairly valued against the yen and euro.  Nonetheless, the euro hit $1.4052 today versus a low of $1.3698 yesterday and on balance is 0.5% stronger than Wednesday’s close.  The dollar also eased 0.4% against the Canadian dollar, and 0.1% relative to the yen, Australian dollar, and […] More