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Day: January 16, 2008
January 162008
Euro Down Fastest Since December
EUR/USD unexpectedly fell today after the moderate fundamental statistics were released in the United States. This currency pair declined from 1.4803 opening price to 1.4656 making it the largest daily drop for EUR/USD since December 14. CPI (Consumer Price Index) in December showed a better than expected growth, increasing by 0.3% — still lower than in previous month (0.8%), but above the forecasted 0.2%. Net foreign purchases […]
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January 162008
GCC Countries May Revalue Currencies by End of 2008
Financial experts from the Standard CharteredStandard Chartered expect a coordinated scrapping of the peg to the U.S. dollar from the monetary authorities of the Middle Eastern countries – Saudi Arabia, U.A.E., Qatar, Oman and Bahrain. Kuwait, the only GCC country that tied its currency to euro and pound in addition to dollar (back in May […]
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