Intensified Worries about Portugal, Ireland and Spain

July 6, 2011

Just when the peripheral debt crisis in Europe appeared to be ebbing, a downgrade by Moody’s of Portuguese sovereign debt to junk status (Ba2) has stirred that pot of fear anew.  Peripheral bond spreads versus Germany have widened, and the euro is lower.  Another usual victim of risk aversion, commodity-sensitive currencies, have been surprisingly resilient. […] More

Dollar and Yen Up as Investors Opt for Greater Safety

April 27, 2010

The dollar has risen 0.7% against sterling, 0.5% against the euro, 0.4% relative to the Swiss franc, 0.3% versus the kiwi and 0.2% against the Australian dollar.  The Canadian dollar and yen are unchanged and up 0.3% against the greenback.  Investors fret that some EU governments won’t approve a bail-out of Greece or that it […] More