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Archive for January 7th, 2009

Yen May Rise to 85 Versus Dollar, Morgan Stanley’s Feldman Says

By Thomas R. Keene and Whitney Kisling
Jan. 6 (Bloomberg) — The yen will strengthen another 10 percent, touching 85 against the U.S. dollar for the first time since 1995, before falling in the second half of the year as the global economy stabilizes, Morgan Stanley’s Robert Feldmansaid.

Australian Dollar Climbs to 3-Month High; N.Z. Currency Gains

By Ron Harui
Jan. 7 (Bloomberg) — Australia’s dollar rose to a three- month high and New Zealand’s dollar climbed to its strongest in almost three weeks versus the greenback as gains in equities and commodities revived appetite for higher-yielding assets.

Euro May Fall to 87.50 British Pence, Standard Chartered Says

By Ron Harui
Jan. 6 (Bloomberg) — The euro may fall 5.6 percent to 87.50 British pence over the next three months, Standard Chartered Plc forecast, citing technical charts that predict price movements.

Pound Climbs Against Euro on Bets Rate Cuts May Revive Growth

By Matthew Brown and Gavin Finch
Jan. 6 (Bloomberg) — The pound rose against the euro for a second day, strengthening to 91 pence for the first time in almost three weeks, on speculation interest-rate cuts will revive the British economy faster than the common-currency region.

Dollar Rises After GM Says May Not Need More Government Funds

By Stanley White
Jan. 7 (Bloomberg) — The dollar rose for a sixth day against the yen, the longest run of gains in two years, after General Motors Corp. said it has enough government funding to cover the worst-case scenario and may not need additional loans.