Tag: dollar

Swiss Government holds emergency meeting as franc rises

Swiss Government holds emergency meeting as franc rises

The value of the Swiss franc continues to rise today as investors regard it as a safe haven amid the economic turmoil. Today, the US dollar hit an all-time low against the Swiss franc, while rising against the euro to 1.0917. A report from the Bloomberg news agency suggests the franc is higher this year [...]

August 8, 2011 | 0 Comments More
Australia’s inflation soars to 3.6% in June

Australia’s inflation soars to 3.6% in June

July 27, 2011 | 0 Comments More
China’s trade surplus swells in April

China’s trade surplus swells in April

May 10, 2011 | 0 Comments More
China and US to hold talks over currency issues

China and US to hold talks over currency issues

China and the US are set to hold economic talks in Washington DC next month as the two countries endeavour to reach an agreement over currency issues. The State Department announced yesterday: “The third meeting of the U.S.-China Strategic and Economic Dialogue (S&ED) will be held in Washington, DC, May 9-10, 2011.” China has been [...]

April 26, 2011 | 0 Comments More
China’s yuan hits record high against US dollar

China’s yuan hits record high against US dollar

The yuan has risen to an all-time high against the US dollar today - trading in a range from 6.5552 (a record high) to 6.5596 and up from Monday’s close of 6.5611. The currency has now risen about 4.1% since last summer and 0.2% this week alone. Beijing has been under pressure to let its [...]

March 22, 2011 | 0 Comments More
Japanese yen hits record high

Japanese yen hits record high

The Japanese yen reached a post-war record high against the US dollar following last Friday’s earthquake and tsunami. The disasters have sent global shares into freefall but the worry for the world’s third largest economy is a strong yen, which continues to weaken demand for exports. Today, Japan’s Nikkei 225 index fell a further 1.4% [...]

March 17, 2011 | 0 Comments More
Hong Kong’s economy performs strongly in 2010

Hong Kong’s economy performs strongly in 2010

Official figures have today revealed Hong Kong’s economy grew by 6.8% in 2010 - boosted by business ties with mainland China. As a result, Hong Kong’s Financial Secretary John Tsang, expects the economy to expand by between 4% and 5% this year. According to analysts, Hong Kong has been benefiting from an increasing number of [...]

February 23, 2011 | 0 Comments More
Australia leaves interest rates on hold

Australia leaves interest rates on hold

The Reserve Bank of Australia (RBA) has today elected to keep interest rates on hold at 4.75% - a move which was widely expected. Australia was the first economy to raise rates from a 50-year low as the economic downturn eased. Other major economies opted for lower interest rates to boost their economies. The country [...]

December 7, 2010 | 0 Comments More
Euro continues to fall over debt fears

Euro continues to fall over debt fears

The euro is continuing its slide against the US dollar over debt concerns in the euro zone. The single currency is falling as investors are nervous that the debt crisis could spread to weaker economies, such as Portugal and Spain – despite reassurances from both countries that the recent Irish bailout will stabilise the euro [...]

December 1, 2010 | 0 Comments More
Australian economic growth slows significantly in Q3

Australian economic growth slows significantly in Q3

The Australian economy, which is one of the few developed economies not to have fallen into recession like its counterparts throughout the world, has today reported a slowing in growth for the third quarter as the rise in the dollar hit export earnings and consumers were hit by higher interest rates. Official figures revealed the [...]

December 1, 2010 | 0 Comments More
US dollar falls as markets anticipate eventful week

US dollar falls as markets anticipate eventful week

The US dollar has fallen to a fresh 15-year low today against the Japanese yen and also fell against the euro. Many are calling this week “the busiest week in decades” as interest rate decisions are expected across the globe. US central bank, the Federal Reserve, could be set to provide extra stimulus to strengthen [...]

November 1, 2010 | 0 Comments More
Currency tensions escalate between China and US

Currency tensions escalate between China and US

China has today hit back at the US saying it will continue to reform its currency policy - but at its own pace. The US has been pressuring China to let the value of its currency, the yuan, appreciate against other currencies. In June, Beijing loosened its currency peg and, while the move was welcomed, [...]

October 15, 2010 | 0 Comments More
Japan core machinery orders in surprise rise

Japan core machinery orders in surprise rise

Japanese core private-sector machinery orders – a highly volatile series seen as an indicator of corporate spending - surged 10.1% in August - confounding expectations of a 4.5% fall. The increase in orders represented the third consecutive monthly rise, according to the Cabinet Office, and follows June’s 1.6% increase and July’s 8.8% growth. The surprise [...]

October 13, 2010 | 0 Comments More
US dollar weakens vs. yen, yuan tensions continue

US dollar weakens vs. yen, yuan tensions continue

The US dollar has fallen to a fresh 15-year low against the Japanese yen today after this weekend’s International Monetary Fund (IMF) annual meeting in Washington failed to resolve the currency issue. Last week, the IMF expressed its concern for a currency war and said if Governments across the world use exchange rates as a [...]

October 11, 2010 | 0 Comments More
IMF fears currency war after interventions by central banks

IMF fears currency war after interventions by central banks

Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), has expressed his concern for a currency war. According to Mr Strauss-Kahn, if Governments across the world use exchange rates as a policy weapon, there could be a serious risk to global economic recovery. His comments come ahead of the IMF and World Bank annual [...]

October 6, 2010 | 0 Comments More
US House passes yuan legislation

US House passes yuan legislation

The US House of Representatives has passed a bill, which will allow it to impose retaliatory tariffs on China. The bill passed 348 to 79 and included the support of 99 Republicans. However, to become law, the bill would also need to be passed by the Senate and then signed by President Barack Obama. However, [...]

September 30, 2010 | 0 Comments More
US House to pass legislation to allow flexible yuan

US House to pass legislation to allow flexible yuan

The pressure on China to allow a flexible yuan is increasing after the US House of Representatives is ready to pass a bill, which will allow it to impose retaliatory tariffs when another nation is found to be manipulating its currency’s value. The US has previously expressed dissatisfaction that China is keeping the value of [...]

September 29, 2010 | 0 Comments More
Obama presses China over yuan issues

Obama presses China over yuan issues

Following a “candid” two-hour meeting yesterday between Chinese Premier, Wen Jiabao, and US President, Barack Obama, it appears China will still not bow to pressure over its currency. The object of the meeting was to urge China to revalue its currency, the yuan. The US has previously expressed dissatisfaction that China is keeping the value [...]

September 24, 2010 | 0 Comments More
Gold continues to soar on back of weak dollar

Gold continues to soar on back of weak dollar

The price of gold continues to surge after the US Federal Reserve hinted that it is prepared to inject more money into the economy, if needed. In a statement, the Fed said it would “continue to monitor the economic outlook and financial developments and is prepared to provide additional accommodation if needed to support the [...]

September 22, 2010 | 0 Comments More
US: Yuan is still undervalued

US: Yuan is still undervalued

US Treasury Secretary, Timothy Geithner has reiterated that China’s currency, the yuan, is still significantly undervalued. The US has previously expressed dissatisfaction that China is keeping the value of the yuan low to help its exporters at the expense of overseas competitors. Trade groups have argued that the yuan, also referred to as the renminbi, [...]

September 17, 2010 | 0 Comments More