The News Review:

- CORR Forex – Dollar drops to fresh record low against euro, 12-yr low…
- Forex – Dollar eases in Tokyo ahead of investment bank results, Fed…
- Holcim Indonesia net profit down 3.7 percent in 2007 on forex losses
- SKorea may intervene in forex market if volatility continues – report
- FOREX: Ringgit Opens Lower Against US Dollar

CORR Forex – Dollar drops to fresh record low against euro, 12-yr low…
Forbes – Mar 17, 2008
The Fed will likely cut rates by 75 basis points on March 18, said Tomoko Fujii, head of economic strategy at Bank of America, who raised her forecast from half a percentage point last week. Some speculators are betting the rate cut will be as much as one percentage point, she said. ‘There are a lot of negative factors against the dollar in the pipeline, including a deeper rate cut,’ Fujii said. ‘That’s why it is difficult to stop the dollar’s decline.

Forex – Dollar eases in Tokyo ahead of investment bank results, Fed…
Forbes – Mar 17, 2008
The euro rose as high as 1. 5904 US dollars overnight, a fresh lifetime high, while the dollar fell as low as 95. 72 yen, its lowest level since August 1995, after the sale of Bear Stearns stirred fear among investors worldwide about other banks’ exposure to the troubled credit markets ahead of the release of their quarterly results. Goldman Sachs and Lehman Brothers are due to release their quarterly results on Tuesday and Morgan Stanley on Wednesday.

Holcim Indonesia net profit down 3.7 percent in 2007 on forex losses
Forbes – Mar 17, 2008
7 percent in 2007, driven down by foreign exchange losses. The company booked net profit of 169. 41 billion rupiah, against 175. 95 billion rupiah the year before.

SKorea may intervene in forex market if volatility continues – report
Forbes – Mar 17, 2008
News of a possible intervention helped ease pressure on the won briefly, opening firmer against the US dollar for the first time in 13 sessions, until it turned lower again as traders extended long dollar positions. ‘The government and the Bank of Korea are worried about the recent rapid decline of the won,and we plan to jointly set up and operate a monitoring team to keep a close eye on the market, including the foreign exchange market, on a daily basis,’ Shin Je-Yoon, head of international finance bureau at the Ministry of Strategy and Finance, was quoted by edaily as saying. ‘If we think that market instability is not easing, foreign exchange authorities plan to take necessary measures,’ the official said. The won was last quoted at 1,029.

FOREX: Ringgit Opens Lower Against US Dollar
Bernama – Mar 17, 2008
dollar today as it depreciated further after hitting a 10-year high of 3. 15 against the greenback last Thursday, a dealer said.