Archive for February 26th, 2014

Central Bank Watch

Brazilian Selic Rate Hiked by 25 Basis Points to 10.75%

February 26, 2014

Brazil’s monetary policy committee, known as Copom lifted the Selic interest rate late on February 26 to 10.75% from 10.50%.  The unanimous decision reduced in half the size of prior tightening moves made in January, November, October, August, July and May.  An initial increase in April 2013 had also been 25 bps in size from […] More

Deeper Analysis

It Was Twenty-Nine Years Ago Today

February 26, 2014

The U.S. currency recorded its strongest level of the floating dollar rate era on February 26, 1985 after a highly speculative run-up in the first two months of the year.  That day marked the last hurrah of early 80s upswing.  From a low of DEM 1.7000 at the start of 1980, for instance, the dollar […] More

New Overnight Developments Abroad - Daily Update

Fresh Declines in Ukraine and Russian Currencies

February 26, 2014

Overnight dollar movements have been limited to gains of 0.2% against the yen and Aussie dollar and of 0.1% relative to the Swiss franc, offset by 0.1% dips against the kiwi, loonie and sterling.  The dollar is unchanged against the yuan and euro.  A follow-up Ukraine hryvnia devaluation to that announced February 6 has been […] More