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Archive for December 12th, 2008

Pound Falls to Record 89 Pence Per Euro on Worsening Sentiment

By Matthew Brown
Dec. 11 (Bloomberg) — The pound slid to a record against the euro for a fourth day after a U.K. index of manufacturers’ output expectations matched the lowest level in almost 30 years, strengthening the case for deeper interest-rate cuts.

Dollar May Extend Drop Versus Asian Currencies, Citigroup Says

By Jamie McGee
Dec. 11 (Bloomberg) — The dollar will likely extend its retreat from a two-year high against an index of Asian currencies after breaching levels where orders to buy the greenback are clustered, according to Citigroup Inc.

Korean Won Set for Best Weekly Gain Since October on Rate Cut

By Kim Kyoungwha
Dec. 12 (Bloomberg) — South Korea’s won was poised for the biggest weekly gain since the end of October on speculation record interest-rate cuts and an economic stimulus package will support demand for the nation’s assets.

Dollar Heads for Biggest Weekly Decline in 8 Years on Auto Bill

By Stanley White
Dec. 12 (Bloomberg) — The dollar headed for its biggest weekly decline in eight years against the euro on speculation U.S. lawmakers will delay voting on legislation to lend the country’s automakers enough money to survive into the new year.

Australia cbank US dollar repo draws low response

SYDNEY, Dec 12 (Reuters) - An $11 billion 84-day repurchase tender by Australia’s central bank, aimed at easing U.S. dollar debt market tightness, met with a tepid response on Friday, with banks taking less than half the amount on offer.