Foreign Exchange Insights and Next Week
A Crowded Currency Market Radar Screen
February 14, 2013
The foreign exchange game is not just about currency war, both real and imagined. Those with exposures also need to keep an eye on economic growth after awfully weak fourth-quarter figures and trends in long-term sovereign debt yields and equities. Important events are fast approaching like the Italian election on February 24, U.S. federal government […] More
Central Bank Watch
Bank of Korea: Split Vote for No Policy Change this Time
February 14, 2013
The seven-day repo rate was left at 2.75% for a fourth consecutive time as expected, but the decision not to ease was not take unanimously. The interest rate benchmark was earlier cut last July and October — each time by 25 basis points — and those cuts came after a series of four rate increases […] More
Central Bank Watch
Bank of Japan: No Additional Policy Initiatives this Month
February 14, 2013
The February meeting of the Bank of Japan Board never figured to be significant. The five-year terms of Governor Shirakawa and Deputy Governors Nishimura and Yamaguchi expire the middle of next month, and they had indicated previously that BOJ policy had been eased as much as they were comfortable doing. A by-product of accelerated quantitative […] More
New Overnight Developments Abroad - Daily Update
Weaker-than-Projected Ezone GDP Depresses Euro and European Equities
February 14, 2013
The dollar has risen 0.9% against the euro and 0.6% versus the Swiss franc. The U.S. currency otherwise is up 0.2% relative to sterling and 0.1% against the loonie and Aussie dollar but down 0.3% against the yen and 0.5% versus the kiwi. The yuan is steady, showing no reaction to confirmation remarks by Jacob […] More
