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Archive for December 15th, 2008

Dollar Staggers as U.S. Unleashes Cash Flood, Deficit

By Bo Nielsen and Daniel Kruger
Dec. 15 (Bloomberg) — The biggest foreign-exchange strategists and investors say the best may be over for the dollar after a four-month, 24 percent rally.

Euro May Gain Versus ‘Bearish’ Canadian Dollar, RBC Says

By Chris Fournier
Dec. 12 (Bloomberg) — The U.S. dollar’s five-month rally versus the Canadian currency has stalled, making the euro, the Australian dollar and the yen better bets against the loonie, according to RBC Capital Markets.

Russia Won’t Let Ruble Float Free, Deputy Central Banker Says

By Greg Walters
Dec. 14 (Bloomberg) — Russia won’t let the ruble float freely and may continue to widen the band in which the currency is allowed to trade, the first deputy chairman of Russia’s central bank, Alexei Ulyukayev, said.

Australian, N.Z. Dollars Advance on Outlook for Fed Rate Cut

By Candice Zachariahs
Dec. 15 (Bloomberg) — The Australian and New Zealand dollars rose on speculation the Federal Reserve will cut interest rates at least half a percentage point tomorrow, increasing demand for higher-yielding assets.

Dollar Falls to 8-Week Low Versus Euro on Auto Bailout Costs

By Stanley White
Dec. 15 (Bloomberg) — The dollar fell to an eight-week low versus the euro on speculation a U.S. government rescue for the country’s automakers will leave less money to protect the financial system.

BOJ gov:Japan economy may shrink in FY 2009/10-FT

TOKYO, Dec 15 (Reuters) - The Bank of Japan governor said the nation’s economy may contract in the fiscal year starting next April 1 and that markets, not the central bank, determine foreign exchange rates, the Financial Times reported on Monday.