User: newstrust Topic: Business
Category: Global Economy :: Currency
Last updated: Jul 07 2020 19:20 IST RSS 2.0
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China’s Bank Chief Says Currency Is Unlikely to Rise 7.3.2010 NYT > World
Zhou Xiaochuan said China should be “very cautious” about revaluing its currency, also known as the yuan, as long as major economies remained mired in slow growth.

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China says it will move cautiously on currency 6.3.2010 Boston Globe: Latest
China says it will move cautiously on currency
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Commodities A Better Store Of Wealth Than Dollar Or Euro 3.3.2010 Personal Finance News
Rising debt pose risk to world's top currencies.
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Fears of hung parliament hit pound 2.3.2010 The Guardian -- Front Page
Markets react to narrowing opinion polls by selling sterling The pound came under heavy selling pressure on the foreign exchanges yesterday as fears that a hung parliament could delay action on Britain's budget deficit sent jitters through the markets. In frenetic morning trading, sterling at one stage dropped by more than four cents against the dollar to a nine-month low of below $1.48, but rallied slightly to end the day 2.5 cents down. Although concerns over the fragility of Britain's deepest postwar recession had made the pound vulnerable in recent weeks, yesterday's decline was triggered by a weekend opinion poll showing the Conservative lead over Labour shrinking to two percentage points. City experts said they expected the ...
IMF chief pushes for more power, new global currency 27.2.2010 NewsTrust Yahoo Pipes Feed
The International Monetary Fund wants more power to police the global financial system and a bigger role in emergency financing, managing director Dominique Strauss-Kahn said Friday. In a speech to the Bretton Woods Committee, a finance reform think tank in Washington, D.C., he claimed that a stronger IMF also warrants a new global reserve currency that [...]
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I.M.F. Chief Suggests Look at New Currency Reserve 26.2.2010 NY Times: Business
The goal, said Dominique Strauss-Kahn of the monetary fund, would be to help reduce the world’s dependency on the dollar.

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Thai Airways flies back into black in 2009 26.2.2010 Earth Times
Bangkok - Thai Airways International on Friday reported a net profit of 7.3 billion baht (222.5 million dollars) for 2009, compared with a 21.4-billion-baht loss in 2008. ...
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Double-dip recession looms over UK 26.2.2010 The Guardian -- Front Page
Fears grow after industrial investment slumps and leading investor warns that pound could become a 'basket case' Fears of a double-dip recession and a sterling crisis in the run-up to the election were raised last night amid news of collapsing investment in British industry and a warning from one of the world's leading financiers that the pound could plummet within weeks. The pound fell sharply on the foreign exchange markets after a day of grim economic news which saw an admission from RBS that it had missed government targets for business lending, a downgrading of the UK growth prospects by the European commission and a warning from the CBI that consumer spending was likely to remain weak ahead of polling day. Sterling, already down by ...
Greece pressured by markets to cut spending further 26.2.2010 The Guardian -- World Latest
• Euro hammered for second successive day • Athens will launch critical bonds issue to raise €20bn Athens could announce a fresh round of austerity measures as early as next week under intense pressure from financial markets, despite widespread protests against existing spending cuts. A general strike caused chaos on Wednesday, but the EU's economic affairs commissioner, Olli Rehn, will visit Athens next week, and with an EU team on the ground apparently unconvinced that the measures Greece has so far promised will suffice, there are widespread rumours that more spending cuts are being hurriedly drawn up. The euro took a battering on foreign exchange markets for a second successive day yesterday, following the warning from ratings ...
Health care summit: dysfunction but not decline 26.2.2010 The Moderate Voice
Congressional wars underlying the health care summit are making cynical headlines around the world but the US still has what it takes for domestic and foreign policy success. Its economy is 25% of global GDP and it has the ability to project power forcefully across oceans and continents. Combined with these unique powers, are [...]
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Ebb and flow of the dollar 22.2.2010 Mint Columnist: Nageswaran
For now, monetary policy fears and fiscal restraint will ensure that the dollar remains stable at least
Austin, Texas: capital of paranoid politics | Amanda Marcotte 20.2.2010 Guardian: Comment is Free
Joseph Stack's views don't fit neatly into the partisan politics of the US, but central Texas is where conspiracy theories take root Yesterday, tragedy hit Austin, Texas, the place where I'd lived for 14 years and only moved away from two months ago. A man tentatively identified as 53-year-old Joseph Stack, flew his small plane into the seven-storey IRS building in North Austin, after setting fire to his own home and leaving a lengthy suicide note on his website. The note was surprisingly lucid for a man committing an act universally seen as crazy, and it spelled out his mostly political grievances, with a call to arms at the end for those who share them. And yet, many commentators and the US government are reluctant to call this a terrorist ...
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Is Greece the New Lehman Brothers? 13.2.2010 The Moderate Voice
PIIGS is a new acronym for Portugal, Ireland, Italy, Greece and Spain, which are euro zone members with big budget deficits and other economic problems, that led to market speculation against the euro.  Greece has the biggest economic woes and is at the center of attention, but the market speculation could spread. The Telegraph accused [...]
Holiday cash: Limiting the exchange rate pain 13.2.2010 The Guardian -- World Latest
If you are heading abroad for a half term break, the swings in the currency values may have left you wondering when it is best to pick up your euros, dollars and other foreign tender. Here are some thoughts on how holidaymakers can navigate the volatile foreign exchange markets. I am going to the United States. When can I get most dollars for my pounds? Three years ago the magical $2-£1 level was reached, to the delight of transatlantic shoppers. Fast-forward to this year and £1 is worth about $1.56. The stark change is less to do with sterling's weakness and more with the dollar's strength against other currencies as investors see it as a relatively safe haven given all the fears around eurozone economies. Analysts see the pound ...
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Don't blame the traders | Seth Freedman 12.2.2010 The Guardian -- World Latest
Greece's prime minister says the slump in the euro has been exacerbated by speculators, but they are just doing their job Although the worst of the credit crisis appears to have passed, casting traders and hedge funds in the role of pantomime villains is still the order of the day. The drama currently unfolding in Greece has seen politicians stick to a tried and tested formula for passing the buck: when your back's against the wall, lash out at a third party in a desperate attempt to save face and absolve yourself of responsibility. As was the case when companies such as HBOS and Lloyds found themselves in the sights of bear raiders, so it is today on a national scale now that Greece has become a pariah in the eyes of investors the world ...
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Inside the Markets: Regulators Tackle 'Carry Trades' 11.2.2010 International Herald Tribune: Business
Governments are seeking to root out and smother what they see as excessively risky and questionable financial market activity.
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Economy: Weaning The World Off The U.S. Dollar 9.2.2010 Newsweek Top Stories
Getting the world to kick its greenback addiction will be good for everybody—even Americans. So why aren't we talking about it? ...
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Drumbeat: February 5, 2010 5.2.2010 The Oil Drum
WORLD FOREX: Euro Sinks As Oil Plunges On Drop In Risk Demand The euro fell against the dollar midday Friday in New York as a slump in oil prices further erased demand for riskier assets at a time of growing investor anxiety over deteriorating finances of some European countries. The dollar index, which tracks the greenback against a trade-weighted basket of currencies, jumped to its highest level since July, while the euro sank to a fresh eight-month low against the dollar, with the common currency dipping briefly below $1.36. The sharp decline in oil prices is feeding additional pressure on the currency markets, said Marc Chandler, global head of foreign exchange at Brown Brothers Harriman in New York. "It's a vicious cycle that hasn't ...
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Is The Fed Stifling Recovery? 4.2.2010 The Atlantic - Matthew Ygblesias
One thing I tell people who are looking for advice about blogging is that a post should make one point. If you have two points to make, write two posts. I’m about to violate that by pivoting to a point about monetary policy, but that’s by way of saying that if you click on this [...]
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Predictions Are Hard, Especially About the Future 4.2.2010 The Atlantic - Matthew Ygblesias
Tom Friedman is bullish on China “First, a simple rule of investing that has always served me well: Never short a country with $2 trillion in foreign currency reserves.” Felix Salmon notes that this is a bad rule of thumb: In fact, if you decided to short only countries whose foreign exchange reserves reached some large proportion [...]
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