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Day: April 7, 2010
April 72010
China Lets Yuan Appreciate
The Chinese yuan gained on the prospect that the central bank will stop keeping the currency at current rate, removing the a 21-month-old peg, and allow it to appreciate, attempting to keep the inflation under control and also to make imports cheaper. The Peopleâs Bank of China revealed its plan to sell the three-year bills to drain the cash from the financial system for the first time since 2008, causing the speculation that this may be followed by the increase in the benchmark […]
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April 72010
Indian Rupee Falls as Importers Prefer Dollar
The Indian rupee fell as importers, particularly the nationâs refiners, increased the buying of the U.S. dollar to pay for increasingly costlier overseas purchases, utilizing the U.S. currencyâs strength. The stronger rupee may attract trader by decreasing the cost of overseas shipments, but for now gains in the greenback has made U.S. currency more appealing for importers, who are looking for the ways to lower their expenditures as the prices for commodities, especially the crude oil, are rising worldwide. […]
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April 72010
Will Self-Supporting Recovery Help Yen?
The Japanese yen may rebound after its recent recessions against the majors as Masaaki Shirakawa, Governor of the Bank of Japan, expressed hope that the economic recovery, which apparently became self-supporting, will continue. The sales are increasing since the policy makers doubled the lending program for banks last month, boosting the confidence in businesses and consumers’ purchasing capability despite the falling prices and wages. Shirakawa said today at the news conference: “We have […]
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April 72010
Fed Keeps Interest Rates Low, Will It Harm Dollar?
The U.S. dollar’s advance may be held in check by the Federal Reserve’s decision to continue keeping the interest rates low on signs that the inflation slowdown will continue for some time and the risk of increasing the borrowing costs too soon before the economy fully recovers. The Fed lowered its 2010 and 2011 inflation forecasts, excluding food and energy (their estimations were already below 2009 levels). Yet the Fed officials are still […]
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April 72010
Disregarding Fundamentals, Dollar Heads Up
The things are getting more and more disconnected these days. The oil is rising despite the increasing reserves. The dollar is going up despite the growing commodities. EUR/USD continued to decline today with the most probable reason still being the problems of Greece, but it may stop being the main driver soon. The pair is now trading near 1.3356. Crude oil inventories rose by another 2 million barrels […]
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