The News Review:
- Forex – Dollar flat in Asian afternoon trade ahead of ECB meeting, US…
- Forex – Pound strengthens after BoE leaves interest rates on hold
- Japanese finance minister says government carefully watching forex…
- Japan’s forex reserves hit record 1.01 trillion dollars in…
- Forex – Reports of Times Square blast dent dollar; euro, Swiss franc…
Forex – Dollar flat in Asian afternoon trade ahead of ECB meeting, US…
Forbes – Mar 6, 2008
The ECB will meet later today to discuss monetary policy and most analysts expect the policymakers to keep rates unchanged at 4 percent. The US Labor Department will release tomorrow last month’s unemployment rate that may show an increase from January’s 4. ‘There have been quite big moves in the currency market in the last few days.
Forex – Pound strengthens after BoE leaves interest rates on hold
Forbes – Mar 6, 2008
The decision was expected by the majority of the 35 economists polled by Thomson Financial News, although two had expected the central bank to cut rates. Most have forecast that the next move lower in interest rates will come in May — by which time the BoE will have the detailed forecasts in the May Inflation Report to fall back on. Expectations for no change in borrowing costs were reinforced yesterday by a strong survey of the service sector, which brought further evidence that consumer price inflation is set to move higher in the coming months.
Japanese finance minister says government carefully watching forex…
Forbes – Mar 6, 2008
‘I would like to refrain from commenting on foreign currency exchange rates. But we will continue to monitor movements in the forex market carefully,’ Nukaga told reporters at a regular briefing. 16 am (0116 GMT), the US dollar was at 102. 77 yen, compared to 102.
Japan’s forex reserves hit record 1.01 trillion dollars in…
Forbes – Mar 6, 2008
The previous record of 996. 04 billion dollars was reached in January. Japan’s forex reserves remain the second largest in the world next to China, whose holdings reached 1. 59 trillion dollars at the end of January, according to the latest available figures from the Chinese government. The single European currency rose to 1. 5179 dollars at the end of last month from 1. 4861dollars in January, lifting the dollar value of euro-denominated assets, the ministry said.
Forex – Reports of Times Square blast dent dollar; euro, Swiss franc…
Forbes – Mar 6, 2008
Reports emerged earlier of an explosion at a military recruiting station in Times Square, New York. This was further bad news for the already ailing dollar, with the euro and the safe-haven Swiss franc the main beneficiaries. The euro hit a fresh all-time high against the dollar of 1. 5347 usd after hitting a series of highs throughout the morning, while the Swiss franc rose to a high of 1.