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Day: September 12, 2011
September 122011
European Crisis Isn’t Good for Rand
The South African rand is just another higher-yielding currency that suffers from the adverse impact of the European-sovereign debt crisis on currency markets. The rand suffers not only from the direct effect of the risk aversion on riskier currencies, but also from the decline of the euro. As much as 45 percent of the South African exports are based on the euro, meaning the problems of Europe had additional negative impact of South Africa’s economy and currency, besides […]
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September 122011
New Zealand Dollar Falls as Concerns About Greece Intensify
The New Zealand dollar dropped today as growing concerns that Greece will face default caused a decline of stocks and sap demand from higher-yielding assets. Germany’s officials debate how to help the nation’s banks in case Greece would fail to meet the bailout requirements. German Chancellor Angela Merkel will with European Commission President Jose Manuel Barroso in Berlin today to discuss the Euro-region debt crisis. The MSCI Asia Pacific […]
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September 122011
Can SNB Hold EUR/CHF Above 1.2000?
The Swiss National Bank has announced a minimal level of the national currency (Swiss franc) relative to the euro almost a week ago. During these 4 and a half days of trading, the EUR/CHF rate moved in a range slightly above 1.2 level — between 1.2009 and 1.2185, which is within 1.5% of the target peg level. Currently the EUR/CHF currency pair is trading near 1.2050. As I’ve already written, I perceive this situation as an interesting […]
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