The News Review:
- FOREX-Dollar falls as risk aversion eases on Citi news
- RPT-Campbell profit beats; sees forex hitting ’09 vie
- ANALYSIS-Indonesia forex policy hostage to political battle
- Forex Market Quiet as US Announces Citigroup Rescue Plan
- FOREX-Dollar, yen slip as stocks, risk appetite recover
FOREX-Dollar falls as risk aversion eases on Citi news
Reuters
government’s $300 billion-plus lifeline to prevent the collapseof the world’s largest banking group [ID:nSP406175]. “The forex market continues to be all about risk appetiteand its proxy, equities,” said Dustin Reid, director of FXstrategy at RBS Global Banking & Markets in Chicago. The rescue plan “clearly sends a signal that some of theU. banks, in the government’s view, are too big and importantto fail. The move should also help to calm overall marketsentiment for the very short-term.
RPT-Campbell profit beats; sees forex hitting ’09 vie
Forbes, NY
76 * Sales up 3 percent to $2. 25 billion * Forex to hurt 2009 sales and EPS growth * Shares down 4. 7 pct (Recasts, adds sales details, forecast) NEW YORK (Reuters) -.
ANALYSIS-Indonesia forex policy hostage to political battle
Forbes, NY
The Indonesian currency fell to a new decade low on Fridayand has lost a fifth of its value against the dollar this year,battered by collapsing export revenue, capital flight fromrisky emerging-market assets and worries among foreigninvestors that the country is set to adopt comprehensivecapital controls. “For Indonesia to introduce capital controls would beshooting itself in the foot,” said Helmi Arman, economist atBank Danamon in Jakarta. “The government relies on foreignfunds in the bond market to finance its budget deficit. Central bank governor Boediono sought to reassure marketson Friday with a renewed pledge that Jakarta was committed tofree capital movement.
Forex Market Quiet as US Announces Citigroup Rescue Plan
Daily FX, NY
4%, Fueling Growth FearsNov 21 -. In return, Citi issue preferred shares to the US Treasury and FDIC. The Treasury will also invest $20 billion from the recently approved $700-billion Troubled Asset Relief Program into Citigroup in exchange for preferred stock paying an hefty 8% dividend. The bank agreed to comply with restrictions on executive compensations and implement an FDIC scheme to re-structure mortgages as part of the deal. A joint statement from the Treasury, FDIC, and the Federal Reserve said they will “use all of our resources to preserve the strength of our banking institutions.
Related from Auctionsmonster: UPDATE 1-Norway c.bank allots T-bills in bank rescue plan
FOREX-Dollar, yen slip as stocks, risk appetite recover
Reuters
and Japanese currencies toreverse course and move back gingerly into stocks, commoditiesand higher-yielding currencies such as the euro and sterling. “It feels like we’ve reached a point where total fear isreceding a little. There’s an inkling of hope that we may benear a bottom, which is reflected in equities and high-yieldingcurrencies today,” said Boris Schlossberg, senior currencystrategist at GFT Forex in New York. Geoffrey Yu, currency strategist at UBS in London, said”the market is trying to be optimistic but not get carriedaway. ”
Early in New York, the euro was up 0.