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Pound May Rise Against Euro But Not Vs Dollar. By Nicholas Hastings
Sterling is becoming the currency of two halves--still falling against the dollar but rising against the euro. This performance will become even more distinct as the U.K. budget gets closer and David Cameron's new government convinces financial markets, as well as credit rating agencies, that it is serious about slashing the budget deficit.
Sterling is becoming the currency of two halves--still falling against the dollar but rising against the euro. This performance will become even more distinct as the U.K. budget gets closer and David Cameron's new government convinces financial markets, as well as credit rating agencies, that it is serious about slashing the budget deficit.
11 June | 
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0 comments Tax Exocet May Have Holed The Aussie. By Nicholas Hastings
The mining tax exocet that hit the Australian dollar last month may have inflicted irreparable damage to the currency. Since the tax was announced at the start of May, the Aussie has fallen about 11% against its U.S. counterpart.
The mining tax exocet that hit the Australian dollar last month may have inflicted irreparable damage to the currency. Since the tax was announced at the start of May, the Aussie has fallen about 11% against its U.S. counterpart.
10 June | 0 comments
0 comments Swiss Franc Intervention Takes On A New Urgency. By Nicholas Hastings
The battle on the Swiss National Bank's hands has just got a lot bigger. Switzerland's export-led recovery is now at risk as the Swiss franc continues to rise rapidly, reaching a record high of CHF1.3785 against the euro, and the euro zone's growth prospects continue to deteriorate.
The battle on the Swiss National Bank's hands has just got a lot bigger. Switzerland's export-led recovery is now at risk as the Swiss franc continues to rise rapidly, reaching a record high of CHF1.3785 against the euro, and the euro zone's growth prospects continue to deteriorate.
9 June | 0 comments
0 comments Euro Will Fall, With Or Without Carry. By Nicholas Hastings
The return of the carry trade has been postponed--once again. Rising concern about European debt contagion and falling optimism about the global recovery may be encouraging more investors to move out of the euro.
The return of the carry trade has been postponed--once again. Rising concern about European debt contagion and falling optimism about the global recovery may be encouraging more investors to move out of the euro.
8 June | 0 comments
0 comments The Pound's Problem Is Just Economics Now. By Nicholas Hastings
Political uncertainty was blocking the pound before. Now, it's just sheer economics. Instead of bouncing after the Conservatives formed a coalition with the Liberal Democrats a month ago, sterling has remained weak against the dollar.
Political uncertainty was blocking the pound before. Now, it's just sheer economics. Instead of bouncing after the Conservatives formed a coalition with the Liberal Democrats a month ago, sterling has remained weak against the dollar.
7 June | 0 comments
0 comments The Dollar's Rally Is Just Getting Underway. By Nicholas Hastings
The list of reasons for buying the dollar is growing longer. It is not just that data later Friday are likely to show a sharp recovery in the U.S. jobs market, but that interest rate differentials with the dollar's main rivals--the euro and the yen--continue to move in its favor.
The list of reasons for buying the dollar is growing longer. It is not just that data later Friday are likely to show a sharp recovery in the U.S. jobs market, but that interest rate differentials with the dollar's main rivals--the euro and the yen--continue to move in its favor.
4 June | 0 comments
0 comments SNB Intervention Would Now Be Damaging. By Nicholas Hastings
There is a point when currency intervention is more of a liability than an asset. For the Swiss, that point has now come.
There is a point when currency intervention is more of a liability than an asset. For the Swiss, that point has now come.
3 June | 0 comments
0 comments Euro Parity With Dollar Only A Matter Of Time Now. By Nicholas Hastings
The euro has become a risk too far and it is now only a matter of time before the single currency sinks to parity against the U.S. dollar. The euro is set to suffer because of continued uncertainty over the ability of euro zone states to reduce their deficits and from the economic and political fallout from the whole sovereign rescue plan.
The euro has become a risk too far and it is now only a matter of time before the single currency sinks to parity against the U.S. dollar. The euro is set to suffer because of continued uncertainty over the ability of euro zone states to reduce their deficits and from the economic and political fallout from the whole sovereign rescue plan.
2 June | 1 comment
1 comment Yen Falls Out Of Favor. By Gary Stride
In times of global market stress and risk aversion, investors forget Japan's domestic woes and rush to the safety of the yen.
In times of global market stress and risk aversion, investors forget Japan's domestic woes and rush to the safety of the yen.
1 June | 0 comments
0 comments China To Remain On The Fence. By Nicholas Hastings
To expect a dramatic shift in Chinese policy at this stage, either on foreign exchange reserves or the yuan, is foolhardy. With a sovereign debt crisis still very much a threat and the global economic recovery looking very vulnerable, the most that can be expected from Beijing is some tiny incremental move in policy just to keep the critics at bay.
To expect a dramatic shift in Chinese policy at this stage, either on foreign exchange reserves or the yuan, is foolhardy. With a sovereign debt crisis still very much a threat and the global economic recovery looking very vulnerable, the most that can be expected from Beijing is some tiny incremental move in policy just to keep the critics at bay.
28 May | 0 comments
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