Historic Bank of Japan Two-Day Policy Board Meeting Began

January 21, 2013

Currency markets will lack U.S. leadership today.  It’s Martin Luther King Day, and attention will be fixed on the Obama inaugural speech. A warning directed at China by U.S. Secretary of State Clinton against a unilateral action in the Sino-Japanese Island dispute drew criticism from China’s Foreign Ministry. Euro area finance ministers began a two-day […] More

First Market Reaction to S&P Downgrades of Europe

January 16, 2012

Trading has been calmer than feared.  For one thing, U.S. markets will be closed today for the Martin Luther King holiday, and for another, S&P did not downgrade European country risk ratings as much as some feared.  The hope is that European leaders will place even greater urgency now on nailing down the details of […] More

Spotlight on EcoFin as U.S. Observes MLK Day

January 17, 2011

The dollar rose 0.8% against the euro but fell 0.9% against the kiwi.  Otherwise, the dollar shows gains of 0.4% against the Australian dollar and 0.3% relative to the Swiss franc and declines of 0.3% against the yen, 0.2% versus sterling and 0.1% against the Canadian dollar. Chinese equities plunged 3.8% in the wake of […] More