The News Review:

- Forex – Dollar falls in afternoon trade as investors bet on more Fed…
- Forex – Dollar spike up against euro gathers pace ahead of long…
- Forex – Pound up on firm retail sales data UPDATE

Forex – Dollar falls in afternoon trade as investors bet on more Fed…
Forbes – Mar 20, 2008
While the Fed has continued cutting rates since September, the European Central Bank has kept its rates steady, making the common currency of the euro zone more attractive to investors seeking higher yields on their funds. ‘The Fed still needs to cut rates. I’m not convinced that the bottom for the dollar has occurred,’ said Richard Grace, chief currency strategist at CommSec in Sydney. The Fed on Tuesday slashed rates 75 basis points to help its financial sector cope with rising unpaid home mortgages, ease the credit crunch and encourage consumers and businessmen to borrow, spend and invest, helping the economy avert a recession.

Forex – Dollar spike up against euro gathers pace ahead of long…
Forbes – Mar 20, 2008
Though US markets are officially meant to be open tomorrow, activity is set to be light so major banking institutions are locking in profits ahead of the weekend. ‘Ongoing position clearing by funds is probably still the main force behind the rapid moves, but the motivations behind the sudden liquidation remains unclear,’ said Geoffrey Yu, currency strategist at UBS (nyse:.

Forex – Pound up on firm retail sales data UPDATE
Forbes – Mar 20, 2008
Figures out this morning showed sales rose 1. 0 pct between January and February for a year-on-year gain of 5. 5 pct, way ahead of analyst forecasts for a more modest 3.