According to, Toyoo Gyohten, the president of the Tokyo based Institute of International Monetary Affairs, the Japanese economy may enter a short period of recession soon and that will slow down or even reverse the yen?s appreciation trend.
The Chinese yuan continued its triumph this week and was set at a new record high value against the U.S. dollar today at the Shanghai Foreign Currency Trade session.
Great Britain pound continued its almost a week long rally against the currencies of Eurozone, U.S. and Japan, as the traders believe that the Bank of England will turn its head to inflation rather than the lack of the financial liquidity.
According to the new research note by Richard Grace from the Commonwealth Bank of Australia, it would be better to buy Australian dollar with euro in 2008 to earn from the interest rates difference.
Jean-Pierre Jouyet said that during the last G7 meeting (which was on February 10th in Tokyo), that there weren’t any signals from the U.S. representatives, that the States are going to try correcting the current unbalanced situation in Forex.
The strongest African economy may soon lose its position — at least so tells us its currency. South African rand appears to be one of the worst performing currency of 2008.
Today before the G7 meeting in Tokyo, Japan, Joaquin Almunia, who is currently European Commissioner for Economic & Financial Affairs, told the reports that the European currency is still above its fair value.
Today the Great Britain pound started to recover from the week-long losses against the other major currencies, such as the U.S. dollar, euro and the Japanese yen.
Today two important interest rates decision were highly anticipated by the markets — the monetary policy decisions by the European Central Bank (ECB) and the Bank of England (BoE).
Last month South African Reserve Bank bought less foreign currency reserves than in December 2007, as one of the ways to help the rand avoid further weakening.