Archive for April 21st, 2011

Foreign Exchange Insights and Next Week

Easter-Time 2011

April 21, 2011

The Good Friday/Easter holidays constitute the second quietest time of the year in foreign exchange trading.  Only at year-end does one find more markets observing closures.  Easter 2011 finds the dollar at extremely weak levels, and more and more market watchers worrying about a dollar crisis. The dollar has set record lows against the Australian […] More

Central Bank Watch

Status Quo Maintained in Turkish Monetary Policy

April 21, 2011

The Central Bank of the Republic of Turkey is engaged in an experiment of low interest rates, higher reserve requirements and a wide gap between its overnight borrowing rate of 1.5% and lending rate of 9.0%.  The main one-week repo rate was slashed by 1025 basis points between November 2008 and November 2009 and, more […] More

New Overnight Developments Abroad - Daily Update

Broad-Based Dollar Losses

April 21, 2011

The dollar fell overnight by 0.9% against sterling, 0.7% versus the Canadian, New Zealand and Australian dollars, and 0.5% against the yen, Swiss franc and yuan.  The dollar hit its weakest levels since December 4, 2009 against sterling, December 15, 2009 against the euro, and February 27, 2008 against the kiwi.  Record lows were set […] More