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Day: November 22, 2013
November 222013
UK Pound Gets Help from Better Data and the Fed
UK pound is making progress against many of its major counterparts, thanks in part to the economic data coming out of that country, and with the help of the release of the minutes from the last Federal Reserve meeting. The latest Federal Reserve minutes are pointing to the possibility of asset purchase reduction in the United States, and there has been spillover from that announcement to the UK pound. Gilts are underperforming other European sovereigns as a result, […]
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November 222013
More Weakness for the Canadian Dollar
The Canadian dollar continues to weaken. Evidence of economic slowing is weighing on the loonie, and there is speculation that the Bank of Canada will decide to cut interest rates at some point in the near future in order to stimulate the economy a bit. The Canadian dollar has been grinding steadily lower recently, losing value against its major counterparts, especially as things seem to be deteriorating ahead of the holidays. Annual inflation in Canada declined to 0.7 […]
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November 222013
Aussie Drops on Threat of Intervention
The Australian dollar slid today on the treat of an intervention from the central bank. Policy makers think that the Aussie remains too strong despite the recent drop. Reserve Bank of Australia Governor Glenn Stevens said that he is not fully convinced that an intervention is an effective measure, but he does not discard it completely. Stevens explained: In this episode so far, the bank has not been […]
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November 222013
Swiss Franc Gains as Economic Expectations Improve
The Swiss franc gained today as economic expectations continued to improve. The currency maintained the rally even as members of the central bank are convinced that the cap on the Swissie should be kept in place. The ZEW-CS-Indicator of economic expectations for Switzerland rose by 6.7 points to 31.6 in November. Meanwhile, Fritz Zurbruegg, member of the Swiss National Bank Governing Board, complained that the franc remains high and said: The minimum exchange rate will remain a necessary instrument […]
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