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Archive for December 9th, 2008

Euro Dreams Fade for Zloty, Forint, Koruna on Slump

By Ewa Krukowska

Dec. 8 (Bloomberg) — The slowing global economy is halting the spread of monetary union into eastern Europe and may lead to another year of losses for the Polish zloty, Hungarian forint and Czech koruna.

Asian Currencies Rise, Led by Won, Ringgit, on Spending Plans

By Kim Kyoungwha
Dec. 9 (Bloomberg) — Asian currencies gained, paced by South Korea’s won and Malaysia’s ringgit, as economic stimulus plans encouraged overseas investors to buy the region’s assets.

Pound Gains Versus Dollar as Waning Risk Aversion Boosts Stocks

By Matthew Brown
Dec. 8 (Bloomberg) — The pound rose the most against the dollar in more than five weeks as gains in stock markets around the world eroded appetite for the U.S. currency as a haven.

Canada’s Dollar Gains as U.S. Currency Loses Haven Appeal

By Chris Fournier
Dec. 8 (Bloomberg) — Canada’s dollar rose the most in two weeks as President-elect Barack Obama’s pledge to spend the most on infrastructure since the 1950s reduced the U.S. currency’s haven appeal.

Euro Falls on Speculation German Economic Sentiment Weakened

By Stanley White
Dec. 9 (Bloomberg) — The euro fell against the dollar before German economic sentiment data that may show pessimists outnumbered optimists for a 17th month, allowing more scope for the European Central Bank to lower interest rates.

Canada’s Dollar May Fall on Ottawa ‘Kerfuffle,’ Citigroup Says

By Chris Fournier
Dec. 8 (Bloomberg) — Canada’s currency may drop 2.4 percent versus its U.S. counterpart in the next several days as the nation’s economy falters and a political “kerfuffle” means help may be a long time coming, according to Citigroup Inc.