Currencies 1/2/2007
Currencies 1/2/2007
Dollar Falls as U.S. Manufacturing, Jobs Reports May Show Slowing Economy The dollar declined to its weakest in three weeks against the euro on speculation the Federal Reserve will reduce interest rates this year while European Central Bank policy makers increase their benchmark.
Yen May Rebound on BOJ Rates, Say Analysts Who Anticipated Decline in 2006 Bank of Tokyo-Mitsubishi UFJ Ltd., Barclays Plc and Investors Bank & Trust Co., among the handful of firms that correctly predicted last year's drop in the yen, say the currency will rebound as Japanese interest rates rise.
Americas
Brazil's Real Pares Losses After Treasury Secretary Who Urged Cuts Quits Brazil's real was little changed, paring losses as some traders speculated the resignation of Treasury Secretary Carlos Kawall might weaken the government's resolve to control spending.
Dollar Will Rise Against Euro by Year-End on Housing, Morgan Stanley Says The dollar by the end of the year will rise to its highest level against the euro since April as a recovering U.S. housing market allows the economy to gain momentum, according to Morgan Stanley.
Bloomberg Currency Survey Suggests Buy Euro, Yen Versus Dollar This Week Fifty-five percent of 31 traders, strategists and investors surveyed by Bloomberg on Dec. 29 in Asia, Europe and North America advised buying the euro against the dollar this week. Half polled said to buy the yen versus the dollar.
Europe
Swedish Krona Gains on Central Bank Minutes, Growth: World's Biggest Mover Sweden's krona advanced to its highest in a month versus the dollar, the biggest fluctuation of any currency today, after minutes from the last meeting of central bank policy makers showed they voted unanimously to raise interest rates.
U.K. Pound Rises on Speculation Bank of England Will Keep Raising Rates The pound rose against the dollar on speculation the Bank of England will keep raising interest rates to damp accelerating house price inflation.
South African Rand Advances Against Dollar After Surge in Commodity Prices The South African rand advanced as the price of the precious metals that make up about a fifth of the country's exports surged.
Asia
Asian Currencies Advance on Buying of Equities, Growth Economic Optimism Asian currencies climbed, led by the Indonesian rupiah, on speculation investors will add to holdings of stocks in the region as economies expand.
Australia's Two Biggest Banks Disagree on Outlook for Currency This Year Australia's two biggest banks disagree on the outlook for the nation's currency this year.
Baht May Drop This Month as Thailand `Tarnished' by Bombs, Westpac Says The Thai baht will drop 4.2 percent this month as investors lose confidence in the government following a series of bombs in Bangkok on New Year's eve, said Westpac Banking Corp.
Dollar Falls as U.S. Manufacturing, Jobs Reports May Show Slowing Economy The dollar declined to its weakest in three weeks against the euro on speculation the Federal Reserve will reduce interest rates this year while European Central Bank policy makers increase their benchmark.
Yen May Rebound on BOJ Rates, Say Analysts Who Anticipated Decline in 2006 Bank of Tokyo-Mitsubishi UFJ Ltd., Barclays Plc and Investors Bank & Trust Co., among the handful of firms that correctly predicted last year's drop in the yen, say the currency will rebound as Japanese interest rates rise.
Americas
Brazil's Real Pares Losses After Treasury Secretary Who Urged Cuts Quits Brazil's real was little changed, paring losses as some traders speculated the resignation of Treasury Secretary Carlos Kawall might weaken the government's resolve to control spending.
Dollar Will Rise Against Euro by Year-End on Housing, Morgan Stanley Says The dollar by the end of the year will rise to its highest level against the euro since April as a recovering U.S. housing market allows the economy to gain momentum, according to Morgan Stanley.
Bloomberg Currency Survey Suggests Buy Euro, Yen Versus Dollar This Week Fifty-five percent of 31 traders, strategists and investors surveyed by Bloomberg on Dec. 29 in Asia, Europe and North America advised buying the euro against the dollar this week. Half polled said to buy the yen versus the dollar.
Europe
Swedish Krona Gains on Central Bank Minutes, Growth: World's Biggest Mover Sweden's krona advanced to its highest in a month versus the dollar, the biggest fluctuation of any currency today, after minutes from the last meeting of central bank policy makers showed they voted unanimously to raise interest rates.
U.K. Pound Rises on Speculation Bank of England Will Keep Raising Rates The pound rose against the dollar on speculation the Bank of England will keep raising interest rates to damp accelerating house price inflation.
South African Rand Advances Against Dollar After Surge in Commodity Prices The South African rand advanced as the price of the precious metals that make up about a fifth of the country's exports surged.
Asia
Asian Currencies Advance on Buying of Equities, Growth Economic Optimism Asian currencies climbed, led by the Indonesian rupiah, on speculation investors will add to holdings of stocks in the region as economies expand.
Australia's Two Biggest Banks Disagree on Outlook for Currency This Year Australia's two biggest banks disagree on the outlook for the nation's currency this year.
Baht May Drop This Month as Thailand `Tarnished' by Bombs, Westpac Says The Thai baht will drop 4.2 percent this month as investors lose confidence in the government following a series of bombs in Bangkok on New Year's eve, said Westpac Banking Corp.
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