Yen Appreciates on Lehman Worries
Tuesday, June 3rd, 2008
The Japanese yen gained today against its usual carry trade counterparts as the markets worried about the Lehman Brothers loss, which might be signaling for a financial crisis deepening.
Archive for June, 2008
Pound Posted Biggest Daily Drop in 3 Weeks
Monday, June 2nd, 2008
The pound sterling posted today its biggest drop against the U.S. dollar since May 7 as the speculations that Bradford & Bingley Plc, the largest mortgage lender in U.K., will have to raise more capital, indicated a worsening in the real estate market crisis.
Aussie Goes Down on Weak Retail Sales
Monday, June 2nd, 2008
The Australian currency dropped today on Forex as the government bonds rose after the report on the April retail sales showed a decline of this important indicator.
Saudi Arabia to Keep Dollar Peg
Sunday, June 1st, 2008
Saudi Arabia’s Finance Minister Ibrahim Al-Assaf agreed with the U.S. Treasury Secretary Henry Paulson that the riyal’s peg to dollar is serving good to the country’s economy and assured him that Saudi Arabia has no plans to unlink the currency.