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India the Latest to Stone the Dollar |
Jul 09, 2009 |
In the past several weeks, three of the four BRIC nations — Brazil, Russia, and China —have expressed doubt over the dollar’s reserve status and expressed worries over the U.S. debt. India had been the only BRIC nation that had remained silent on the dollar issue, but that’s changed.
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Dollar Will Be New Carry Trade Darling |
Jun 25, 2009 |
The U.S. dollar has the makings of the next funding currency for the carry trade.
A carry trade is when you sell a lower-yielding currency and buy a higher-yielding one. You earn the difference between the two currencies daily, seven days a week.
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What G-8 Chatter Really Means for Currencies |
Jun 17, 2009 |
The Group of Eight (G-8) Finance Ministers met this weekend to set up an agenda for their central bankers when they meet on July 8-10 and to discuss the reversal of stimulus to the global economy. While they did mention that it was not time yet to begin this process for fear of a reversal back into a new recession, just the fact that that they are beginning these discussions is enough to start moving currencies all around.
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Obama Policy Will Sink the Dollar |
Jun 12, 2009 |
Just as individuals have to cut back on personal spending and try to come up with extra income when they overspend, governments have to occasionally do the same. Since Obama & Co. ran up the U.S. debt so much lately, some changes will have to be made in order to bring things back into balance.
Even Fed Chairman Bernanke echoed this in his speech before Congress last week. He alluded to spending in government programs, how they may have to be cut back, and how taxes may have to be raised in the future. Here's how he put it: "Tax rates must ultimately be set at a level sufficient to achieve an appropriate balance of spending and revenues in the long run."
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The Australian Dollar Will Remain on Top |
Jun 03, 2009 |
As I’ve been scanning through the performance of each major currency over the last month or so, I’ve noticed that Australia has been the clear leader.
Australia’s currency has grown 10.78 percent since January 1. The rest come in like this: Canada (7.14 percent), New Zealand (5.35 percent), British pound (3.85 percent), euro (minus 4.31 percent), United States (minus 5.58 percent), Swiss franc (minus 6.17 percent), and in last place Japan (minus 10.34 percent).
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