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Day: January 26, 2011
January 262011
Pound Regains Strength on MPC Minutes
The Great Britain pound recovered today as the minutes of the Bank of England Monetary Policy Committee meeting showed that more policy makers voted for an increase of the interest rates than on the previous meetings. The minutes showed that six members of the Committee voted to keep the rates unchanged, while three members voted for an increase of the rates. Andrew Sentance and Martin Weale preferred to increase Bank Rate by 25 basis points and to maintain the size of the asset purchase […]
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January 262011
Mexican Peso Little Changed After Yesterday’s Decline
The Mexican peso was little changed today after it dropped yesterday on the speculation that the government will intervene to weaken the currency. Mexico’s Finance Minister Ernesto Cordero reinforced the worries about an intervention as he said today: We are paying attention to capital inflows. In the case of Mexico, it wouldnât be effective to impose capital controls. Some analysts voiced their doubts about probability of an intervention, but these comments […]
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January 262011
Swiss Franc Gains as Sentiment Turns to Risk Aversion
The Swiss franc extended its gains today as stocks and commodities declined after the UK gross domestic product unexpectedly declined last quarter, reducing investors’ willingness to risk. The Swiss franc, which is considered to be a safe currency, benefits from the risk aversion sentiment across the markets. And the investors indeed turned away from riskier assets after Britain’s GDP posted the unexpected decline because of the bad weather in December. The franc […]
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January 262011
US Dollar Drops with Lower House Prices & Slower Manufacturing
The US dollar weakened today after the report showed that house prices declined and manufacturing slowed in the US, reducing optimism for the nation’s economy. The S&P/Case-Shiller Home Price Index posted the 1.6 percent year-over-year decline in November. The index dropped 0.8 percent in the month before and was expected to decline 1.4 percent in November. The manufacturing activity expanded for the fourth straight month, but pace of the growth slowed. The Richmond Manufacturing Activity Index was […]
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