Renminibi revaluation speculation continues
Story link: Renminibi revaluation speculation continues
Speculation is increasing that China is coming closer to revaluing its currency.
This speculation grew even more widespread when the renminibi briefly rose above the official valuation range in relation to the dollar, to Rmb 8.27, following a Friday report in the China Securities Journal, owned by the state, which said that the time was […]
CBR considers rouble appreciation
Story link: CBR considers rouble appreciation
The Russian Central Bank (CBR) might allow the rouble to appreciate as much as 9 percent this year, a percentage point higher than had been previously planned, according to the first deputy chairman of the bank.
This move, if taken, would be an effort to ease the high Russian inflation that has only been […]
China attempts to resist US pressue on currency revaluation
Story link: China attempts to resist US pressue on currency revaluation
China continues to insist that it will not respond to outside pressures to revalue its currency after calls for it to do so at last weekend’s G7 meeting.
That pressure just continued on Thursday, however, as U.S. Federal Reserve chairman Alan Greenspan said that China will have to proceed with revaluation “sooner rather than […]
GBP suffers fall in high street spending
Story link: GBP suffers fall in high street spending
The Swiss frank rose to $1.1740 in relation to the U.S. dollar on Thursday before settling to trade at $1.1775.
The dollar changed little from its overnight close. It remained the same against the euro at $1.3096, and was up 0.1 percent compared to the yen at 107.16 after a down day on […]
China evaluates currency exchange
Story link: China evaluates currency exchange
China released a statement on Sunday in which they expressed intent to change the way they assign value to their currency.
They did not indicate when they plan to take this step, which the U.S. and most other members of the G7, meeting over the weekend, insisted that they must take immediately in the […]
Speculators concerned about export currencies.
Story link: Speculators concerned about export currencies.
The Swiss franc was up on Monday, but the yen was shaky and the U.S dollar was down again. The dollar was down partly on concerns about global growth and partly, at least according to some analysts, around the issue of China’s refusal to revalue the renminibi even though the U.S. expects it to […]
Record US deficit fails to flatten dollar
Story link: Record US deficit fails to flatten dollar
The dollar stayed about the same on Tuesday in spite of the announcement that the U.S. trade deficit had hit an all-time high in February.
The deficit reached $61 billion in February; it had been $58.3 billion in January.
The increase was mostly blamed on increases in oil prices.
Despite the rise […]
Currencies flat as dollar falls
Story link: Currencies flat as dollar falls
Major currencies, although they were up in relation to the dollar, remained little-changed otherwise on Monday.
Sterling was flat in relation to the euro and slightly lower against the yen.
The yen, in turn, was somewhat higher in relation to the euro.
The U.S. dollar fell in relation to the euro, sterling, […]
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