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 [ 1 post ] 
 EUR/USD higher - how long is it? 

How much euro higher against dollar (EUR/USD) in december 2008?
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 EUR/USD higher - how long is it? 
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Joined: Wed Mar 26, 2008 3:51 am
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Location: Greece
Post EUR/USD higher - how long is it?
Dollar Registers Biggest Weekly Decline This Year Against Euro
Feb. 15 ([url=http://www.bloomberg.com/apps/news?pid=20601101&sid=aMVPG2JdIRag]Bloomberg[/url]) -- The dollar posted its biggest weekly loss this year against the euro as a decline in New York manufacturing and tumbling consumer confidence added to concern that the U.S. economy is headed for a recession.
...The yen posted a gain against the dollar during most of New York trading as U.S. stocks dropped. Japan's currency then pared its advance against the dollar as the Standard & Poor's 500 Index trimmed its loss. The index ended up 0.08 percent, after losing as much as 0.8 percent earlier...
...The earlier drop in stocks helped spark increased volatility, which diminishes investors' appetite for the carry- trade strategy. In these bets, investors borrow where rates are low and buy assets were yields are higher, such as South Africa, where the benchmark is 11 percent. Increased volatility threatens to erode profits from rate differentials...
...Implied volatility on one-month dollar-yen options rose to 10.85 percent today, from 10.75 percent yesterday, after earlier touching the lowest since Dec. 31. Dealers quote implied volatility, a gauge of expectations for currency moves, as part of pricing options...
The U.S. data ``was much softer than expected and that's fostered a bit of risk aversion,'' said Daragh Maher, a senior currency strategist in London at Calyon, the investment-banking arm of Credit Agricole SA, France's second-largest bank by assets. ``The impact has been felt by the funding currencies like the yen.''
Dollar Falls as Housing Reports May Bolster Case for Fed Cuts
Feb. 19 ([url=http://www.bloomberg.com/apps/news?pid=20601100&sid=aknZAGV1YXiE]Bloomberg[/url])The dollar fell to $1.4742 per euro, the lowest since Feb. 5,
and traded at $1.4726 as of 8:45 a.m. in London,
from $1.4658 in New York yesterday.
U.S. Dollar Falls Below 100 Yen; at 1995 Levels
Mar. 13([url=http://www.npr.org/templates/story/story.php?storyId=88179803]NPR[/url])The euro exceeded $1.56 for the first time, and the dollar fell as low as 99.75 yen, before bouncing back to 100.16 yen. It was the first time the U.S. currency has traded below 100 yen since November 1995...
Dollar Falls on Speculation Housing Slump to Swell
Mar. 19 ([url=http://www.bloomberg.com/apps/news?pid=20601087&sid=aYaDWL5lJhGA]Bloomberg[/url]) The dollar fell against the euro, erasing most of yesterday's gains, on speculation the worst U.S. housing slump in a quarter of a century will swell credit-market losses.
The currency weakened against the Japanese yen and the Swiss franc after Bank of America Corp. predicted the Federal Reserve will lower its target rate by another 75 basis points this year following a reduction to 2.25 percent yesterday. Reports this week on U.S. mortgage demand and manufacturing will probably show the economy is slowing.
...``There are no liquidity problems,'' HBOS spokesman Shane O'Riordain said in a telephone interview. ``We have ready access to a deep pool of deposits. We can access the wholesale markets whenever we feel appropriate to do so.''...
...Short positions on the dollar against the yen, wagers the U.S. currency will fall, reached 27,806 contracts yesterday, the most since July 2006, when Japan's largest financial futures market started collecting data. The exchange's share of so-called margin trading, borrowing money to buy and sell currencies, was 8.6 percent in 2007 based on figures from the Financial Futures Association of Japan...
...The dollar extended its decline against the euro, the yen and the Swiss franc on speculation some European and U.K. banks were in difficulties...
The securities firm is likely to join Goldman Sachs Group Inc. and Lehman Brothers Holdings Inc. in reassuring investors it has ample cash reserves. Morgan Stanley reported the first loss in its history last quarter.
``Should their earnings fall short of analysts' estimates, this may again trigger stock-market declines and yen appreciation,'' Tohru Sasaki and Junya Tanase, currency strategists in Tokyo at JPMorgan Chase & Co., the third-largest U.S. bank, wrote in a research note today.

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Wed Mar 26, 2008 3:52 am ICQ
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