Archive for December 24th, 2008
Yen Rises as Stock Drop Boosts Currency’s Appeal as Safe Haven
By Stanley White and Ron Harui
Dec. 24 (Bloomberg) — The yen rose against the euro and the dollar, snapping two days of losses, on speculation declines in stocks will increase the Japanese currency’s appeal as a haven from the credit crisis.
The dollar weakened versus the euro before government data that will probably show U.S. personal [...]
Posted: December 24th, 2008 under News.
Tags: Asian Banks, Australian Dollar, BlackRock Senior Income Series, Dollar, Euro, japanese currency, MSCI Asia-Pacific Index, New Zealand Dollar, South Korean won, Yen
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Australia, N.Z. Dollars Fall With Equities on Recession Concern
By Candice Zachariahs
Dec. 24 (Bloomberg) — The Australian and New Zealand dollars declined as Asian stocks fell for a fourth day, damping demand for higher-yielding assets.
The currencies weakened as reports showed U.S. home prices plunged at the fastest pace in at least four decades and confidence among Japanese manufacturers declined the most on record. A [...]
Posted: December 24th, 2008 under News.
Tags: Asian stocks, Australian Dollar, Bank of America Corp., currency, Custom House Global Foreign Exchange, Global Recession, Japan, New Zealand Dollar, RBC Capital Markets, Westpac Banking Corp.
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Canada’s Dollar Rises as Commercial Paper Plan Seeks Approval
By Michael J. Moore
Dec. 23 (Bloomberg) — Canada’s currency rose for the first time in four days as Finance Minister Jim Flaherty said he was optimistic the government’s plan to restructure C$32 billion ($26 billion) of insolvent commercial paper will win court approval.
Posted: December 24th, 2008 under News.
Tags: Canada's currency, Canadian Dollar, Canadian GDP, Deutsche Bank AG, Jim Flahety, RBS, Stephen Harper
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Pound Falls Against Euro as Economy Shrinks More Than Forecast
By Anchalee Worrachate
Dec. 23 (Bloomberg) — The pound weakened for a second day against the euro amid speculation the Bank of England will cut interest rates at a faster pace than its euro-region counterpart to help drag the economy out of a recession.
The British currency also slipped versus the dollar after a report showed the [...]
Posted: December 24th, 2008 under News.
Tags: Bank of England, Bank of New York, Bank of Tokyo-Mitsubishi, British currency, Euro, HSBC, Pound, Recession, U.K. GDP
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Korea Won Falls, Ends Two-Day Gain, on Intervention Speculation
By Kim Kyoungwha
Dec. 24 (Bloomberg) — South Korea’s won strengthened, ending a two-day decline, on speculation the central bank bought the currency to stem losses.
The won appreciated 11 percent in December, after falling every month since July, as Korea signed swap deals with the U.S., China and Japan, giving access to dollars to help ease [...]
Posted: December 24th, 2008 under News.
Tags: Asian Financial crisis 1997, BNP Paribas, Central Bank, Dollar, Korea, Won
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