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December 2007 - Posts

• Dollar remains under pressure

  The dollar remained under pressure against its major trading partners following weak housing data on Friday which which added to investors' fears that the American economy may sink into recession Posted Dec 31 2007, 04:58 AM by FT.com - Currency Markets News and Data

• Euro gains on dollar in official reserves

  The euro has fast gained ground against the dollar in international foreign exchange reserves in recent months, according to official statistics highlighting the currency's growing global importance Posted Dec 30 2007, 04:01 PM by FT.com - Currency Markets News and Data

• Housing data push pound to record low against euro

  The pound fell to a fresh record low against the euro after weak housing data heightened the prospects of a near-term cut in UK interest rates Posted Dec 28 2007, 05:39 AM by FT.com - Currency Markets News and Data

• Sales figures boost sterling

  Sterling rose against the dollar and euro on Thursday after the recent run of gloomy economic data was broken by Christmas retail trading numbers. Posted Dec 27 2007, 05:55 AM by FT.com - Currency Markets News and Data

• China to scrap import duty on metals

  Metal and oil prices rose following an announcement by China that it was to scrap import duties on copper, coal and aluminium, and halve tax on oil products from the beginning of next year Posted Dec 26 2007, 06:06 AM by FT.com - Currency Markets News and Data

• Vietnam widens forex trading band

  Vietnam's central bank widened the trading band between the US dollar and the Vietnamese dong to plus or minus 0.75% from 0.5%, effective immediately Posted Dec 23 2007, 09:02 PM by FT.com - Currency Markets News and Data

• Year ends with central bank intervention

  The Federal Reserve and the European Central Bank lend a total of $30bn in 35-day funds, ending a frantic week of activity that appears to have eased fears of a funding crisis Posted Dec 21 2007, 08:00 PM by FT.com - Currency Markets News and Data

• Pound approaches record low against euro

  The pound closed in on an all-time low against the euro of Friday as the prospects of a near-term cut in UK interest rates continued to weigh on the currency. Posted Dec 21 2007, 05:23 AM by FT.com - Currency Markets News and Data

• Weak data undermine Brown's stance on economy

  A wave of bad economic figures has swamped the government, the day after the prime minister and the chancellor insisted the UK economy was fundamentally strong and would 'weather' global financial storms Posted Dec 20 2007, 05:47 AM by FT.com - Currency Markets News and Data

• Surging deficit sends pound to 4-month low

  The pound dropped to a four-month low against the dollar on Thursday after the UK's current account deficit surged to a record high in the third quarter. Posted Dec 20 2007, 05:28 AM by FT.com - Currency Markets News and Data

• Sterling drops to 3-month low against dollar

  Sterling fell to a three-month low against the dollar and lost ground against the euro on Wednesday after the minutes of the Bank of England's December meeting revealed a unanimous decision to cut interest rates. Posted Dec 19 2007, 04:43 AM by FT.com - Currency Markets News and Data

• MPC voted 9-0 for rate cut

  All nine members of the Bank of England's monetary policy committee voted for this month's quarter-point cut in interest rates, judging the downside risks to growth and medium term inflation outweighed concerns over short term cost pressures Posted Dec 19 2007, 04:36 AM by FT.com - Currency Markets News and Data

• German business morale falls

  German corporate morale deteriorated more than expected in December as companies took a dimmer view of current conditions, with retailers especially downbeat, a closely-watched survey showed Posted Dec 19 2007, 03:55 AM by FT.com - Currency Markets News and Data

• Carry trade

  Before the subprime horror began, it was currency carry trades that frightened investors. The real shock came from elsewhere, but carry trades were caught up in the panic Posted Dec 18 2007, 01:56 PM by FT.com - Currency Markets News and Data

• ECB pumps in extra €170bn

  Emergency help for financial markets has entered new territory with the European Central Bank pumping-in almost €170bn extra liquidity at below market interest rates in a special operation to head off a year-end liquidity crisis Posted Dec 18 2007, 05:38 AM by FT.com - Currency Markets News and Data