The government of Dubai, U.A.E. largest emirate, is against the currency revaluation and is pro dirham’s peg to the U.S. dollar, according to Sultan Ahmed bin Sulayem, the member of the Dubai’s Board of Executive …
Dubai is Pro Dollar Peg
Category: News
India May Cut Rate to Reduce Gap with U.S.
Palaniappan Chidambaram, the Finance Minister of India, said yesterday that the latest emergency rate cut by the Fed will probably influence the next interest rate decision by the Reserve Bank of India. The difference between …
Yuan Continues Weekly Gains
With almost every day on Forex being bullish for the Chinese yuan, today it continued its appreciation against other major currencies and particularly against the U.S. dollar, which is now in a bearish trend after …
Euro Stronger after Business Climate Improves
Euro stood stronger against the U.S. dollar and the Japanese yen on Forex market after the Business Climate Index for January 2008 in Germany was released by the Ifo Institute for Economic Research today. EUR/USD …
Aussie Gains of Fed Rate Cut
The Australian dollar gained yesterday after the Federal Reserve announced an emergency rate cut from 4.25% to 3.50%. It also continued to gain today through the most of the Asian trading session, but has already went down past the daily opening price. The main idea …
U.S. Fed Reserve Cuts Interest Rate 0.75 in Emergency
Today, the Federal Reserve System decreased the national benchmark interest rate by 0.75% â from 4.25% down to 3.50%. This was an emergent move to stimulate the financial liquidity amidst the tumbling stock markets. It was the first such move since the aftermath of 9/11, when …
Japanese Yen Gains Sharply against Euro, Pound
Japanese yen is gaining against all its rivals today, as the stocks fall down and the high-risk currencies start to meet their demise. While traditional carry trade counterparts of yen — Australian and New Zealand dollars, are often unstable during such times, the less …
ECB Should Prefer Inflation Fighting
The European Central Bank council member and the governor of the Bank of Italy, Mario Draghi said yesterday that the monetary policy should be tightened in case the inflation in Eurozone will start to cross …
South Korean Won Declined This Week
Almost all Asian currencies, especially high-yielding ones, took a massive hit this week, with the highest drops being near the end of the week. South Korean won has posted the largest weekly decline in almost …
Chilean Peso Gains on Interest Rate Increases Speculation
Chilean peso gained yesterday against other currencies, notably against the U.S. dollar, after the Central Bank of Chile President, José de Gregorio, commented that the bank will have to increase rates again on the next …