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Archive for January 30th, 2009

Australia, N.Z. Dollars Drop on Rate Cut, Deeper U.S. Slump

By Candice Zachariahs
Jan. 30 (Bloomberg) — New Zealand’s dollar touched its lowest in six years and the Australian currency also fell as U.S. equities slid and yesterday’s interest-rate cut in New Zealand reduced the appeal of the two South Pacific nations’ assets.

Buy Pound Versus Sweden Krona as Sales Sag, Morgan Stanley Says

By Candice Zachariahs
Jan. 30 (Bloomberg) — Investors should buy the pound against the Swedish krona to benefit from gains of as much as 7 percent as “extreme” selling of the British currency abates and Sweden’s economic slump deepens, Morgan Stanley said.

Yen May Rise Through March on Inflows, Barclays Says (Update1)

By Garfield Reynolds and Stanley White
Jan. 30 (Bloomberg) — The Japanese yen may extend gains through to the end of the country’s fiscal year on March 31 as exporters buy the currency to hedge revenues and money managers bring funds home amid the global slump, Barclays Capital said.

Dollar, Yen Gain Versus Euro as Slowdown Spurs Demand for Haven

By Ron Harui and Stanley White
Jan. 30 (Bloomberg) — The dollar headed for its largest monthly gain against the euro since October on speculation growing evidence of a global slowdown will increase the appeal of the currency to investors as a haven.