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Archive for December 22nd, 2008

Rand Rises Against Dollar on Prospects for South African Rates

By Garth Theunissen
Dec. 20 (Bloomberg) — The rand rose against the dollar for a second week after the U.S. Federal Reserve cut interest rates to almost zero and on speculation South Africa’s central bank will lower borrowing costs to stimulate its economy.

Australian, New Zealand Dollars Advance on U.S. Auto Bailout

By Candice Zachariahs
Dec. 22 (Bloomberg) — The Australian and New Zealand dollars rose on speculation the U.S. government’s bailout of automakers will give investors confidence to purchase higher- yielding assets.

Euro Will Fall 10% Versus Dollar in 3 Months, UBS, Barclays Say

By Garfield Reynolds and Candice Zachariahs
Dec. 19 (Bloomberg) — The euro will fall about 10 percent against the dollar in the next three months as demand for safety and economic weakness in Europe boosts demand for the U.S. currency, UBS AG and Barclays Capital said.

Yen Falls as Carmaker Loans Revive Confidence in Carry Trades

By Ron Harui and Stanley White
Dec. 22 (Bloomberg) — The yen fell to the lowest level in almost a week against the dollar on speculation $13.4 billion in emergency government loans to General Motors Corp. and Chrysler LLC will give investors confidence to buy higher-yielding assets.