currencies

by Win Thin Hungary is perhaps taking a more obvious approach to influencing monetary policy than Brazil, as ruling Fidesz party has reportedly submitted an amendment to the Central Bank Act that would give the cabinet sole control of…

The Federal Reserve's Open Market Committee met in secret by videoconference on October 15th to hash out policy issues ahead of the official November 2-3. The most extraordinary development at that meeting was discussion around whether the…

Highlights The US dollar is mostly lower, giving back most of yesterday’s gains versus the dollar bloc but still up versus the euro amid concerns over the European financial crisis. The euro suffered against a backdrop of protracted euro…

by Win Thin We continue to be concerned about contagion risks in the peripheral euro zone.  The package for Ireland has ultimately been shrugged off by the markets this week after initial gains in the euro and peripheral bond…

by Win Thin The won has been one of the worst performers so far today due to developments in the Korean peninsula.  Clearly, North Korea is trying to make a statement to the West with its recent saber-rattling, and reports of the…

Highlights The US dollar is higher as the markets seek safe haven after North Korea fired artillery shells at South Korea and the euro zone jitters continue. With the upcoming US holiday dampening volume the euro continued its choppy…

by Win Thin Here are some more thoughts regarding the negative Ireland comments by Moody’s that we highlighted in our daily.  The agency warned of “multi-notch” downgrades to its Aa2 rating, noting that the aid plan will “crystallize…

Highlights The US dollar is trading broadly lower as the details of the Irish bailout emerge with Ireland seeking around €95bln in aid. The euro is up versus the greenback after making an early high of $1.378 but subsequent gains were…

Eric Janszen, Interview with Dr. Michael Hudson 6 November, 2010 Janszen (E): What I’m noting, starting with the gold crisis over the last few weeks, and the public nature of some of the complaints that we’re hearing out of Brazil and…

The U.S. dollar declined in September and October as the market priced in the likelihood that the Federal Reserve would resume buying Treasuries. From late August through the actual QEII announcement itself, the dollar declined about 7.6%…