Currencies 12/27/2006
Currencies
Dollar May Decline Versus Yen, Euro Before U.S. Consumer, Housing Reports The dollar may fall for a second consecutive day against the yen and euro before U.S. reports that are forecast to show consumer confidence dropped and existing home sales slowed.
Yen Drop Confounds Analysts, Lures Investors With `Carry Trade' Strategy The yen confounded forecasters by falling this year and may do the same in 2007 as money managers take advantage of Japan's near-zero percent interest rates to finance investments in bonds from the U.K. to New Zealand.
Americas
Mexico's Peso Gains as U.S. Growth Allays Concern About Demand for Exports Mexico's peso rose after a government report allayed concerns that a slowdown in the U.S. economy will erode demand for Mexican exports.
Colombia's Peso May Weaken in January, Halting Six Months of Advances Colombia's peso may weaken in early January, halting six months of gains, on expectations a local bond rally will falter and lead investors to move money into dollar-based assets.
Inflation Fizzle Rivals Victory by Democrats as Year's Biggest Surprise Inflation was the dog that didn't bite in 2006.
Europe
U.K. Pound Set for Biggest Annual Gain Versus Dollar Since 1990 on Rates The pound is poised for its biggest annual gain since 1990 as it became the world's third-most popular reserve currency and the Bank of England lifted interest rates to their highest in five years.
Slovak Koruna Headed for Record Annual Advance on Plans to Switch to Euro The Slovak koruna headed for its biggest annual gain since the introduction of the euro in 1999 as the economy expands and the country aims to switch to the common European currency before its neighbors.
South African Rand Poised to Drop for Second Year as Trade Deficit Widens South Africa's rand is poised to decline for a second year amid concern the country will struggle to finance its current account deficit as global growth slows and investors shun riskier emerging market assets.
Asia
Thai Baht Gains on Speculation Stock Purchases to Rise; Korean Won Falls Thailand's baht rose for a second day on speculation overseas investors will buy the nation's stocks.
Australian Dollar Rises on Bets Rate Gap to Widen: World's Biggest Mover The Australian dollar rose, the biggest fluctuation of any currency today, on speculation the country's interest-rate advantage over the U.S. will widen.
Dollar May Decline Versus Yen, Euro Before U.S. Consumer, Housing Reports The dollar may fall for a second consecutive day against the yen and euro before U.S. reports that are forecast to show consumer confidence dropped and existing home sales slowed.
Yen Drop Confounds Analysts, Lures Investors With `Carry Trade' Strategy The yen confounded forecasters by falling this year and may do the same in 2007 as money managers take advantage of Japan's near-zero percent interest rates to finance investments in bonds from the U.K. to New Zealand.
Americas
Mexico's Peso Gains as U.S. Growth Allays Concern About Demand for Exports Mexico's peso rose after a government report allayed concerns that a slowdown in the U.S. economy will erode demand for Mexican exports.
Colombia's Peso May Weaken in January, Halting Six Months of Advances Colombia's peso may weaken in early January, halting six months of gains, on expectations a local bond rally will falter and lead investors to move money into dollar-based assets.
Inflation Fizzle Rivals Victory by Democrats as Year's Biggest Surprise Inflation was the dog that didn't bite in 2006.
Europe
U.K. Pound Set for Biggest Annual Gain Versus Dollar Since 1990 on Rates The pound is poised for its biggest annual gain since 1990 as it became the world's third-most popular reserve currency and the Bank of England lifted interest rates to their highest in five years.
Slovak Koruna Headed for Record Annual Advance on Plans to Switch to Euro The Slovak koruna headed for its biggest annual gain since the introduction of the euro in 1999 as the economy expands and the country aims to switch to the common European currency before its neighbors.
South African Rand Poised to Drop for Second Year as Trade Deficit Widens South Africa's rand is poised to decline for a second year amid concern the country will struggle to finance its current account deficit as global growth slows and investors shun riskier emerging market assets.
Asia
Thai Baht Gains on Speculation Stock Purchases to Rise; Korean Won Falls Thailand's baht rose for a second day on speculation overseas investors will buy the nation's stocks.
Australian Dollar Rises on Bets Rate Gap to Widen: World's Biggest Mover The Australian dollar rose, the biggest fluctuation of any currency today, on speculation the country's interest-rate advantage over the U.S. will widen.
posted by alexsakne at 2:37 PM
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