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Day: April 1, 2008
April 12008
UAE Studying Dirham’s Peg to Dollar
The United Arab Emirates government has established a new committee, which purpose is to study the possibility of scrapping the dirhams peg to the U.S. dollar and the reasons to maintain this peg. According to the prime minister Sheikh Mohammed Bin Rashid Al-Maktoum, the study will focus on the benefits of staying with the peg or not. And the results of the study will be reported to prime minister. […]
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April 12008
U.S. Dollar Rallies on Better than Expected Manufacturing ISM
Despite the fact that the ISM PMI for manufacturing sector is still below the significant 50 level and the construction spending continued to fall in February, todays economic releases inspired the stock markets rally and the strengthening of the U.S. dollar. EUR/USD fell down from 1.5763 to 1.5582, making this days fall already a second largest in the last two weeks. Construction spending in February decreased at a lesser extent […]
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