Further upside to come for the Swedish krona June 15, 2010 EVENTS in the Eurozone periphery have unsurprisingly continued to grab traders’ attention over the past couple of months. But while foreign exchange investors are concentrating on the southern and eastern fringes of the single currency area, opportunities are opening up on the northern edge. The balance sheets of the eastern European and Club Med states [...]
RELIEF RALLY IN THE EURO IS TENUOUS June 15, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT WITH so much negative sentiment aligned against it, the euro unsurprisingly started the week with a strong relief rally. The latest positioning data from the CFTC released last Friday revealed that speculators added 18,620 fresh new shorts, resulting in total short exposure of 111,945 contracts – the second highest reading [...]
The euro has been left treading air June 15, 2010 WITH Moody’s downgrade putting Greek government debt on a par with that of Romania and Latvia, analysts are starting to ask if this is end for the Eurozone. At a press briefing this week Theodora Zemek of AXA Investment Managers even commented that the next two years could see the wholesale break-up of the euro. [...]
THE TIPSTER June 15, 2010 THE Aussie dollar was extremely volatile in the past month as markets suffered from a bout of volatility. Sterling-Aussie was particularly volatile, and after a break out above A$1.7000, the pound kept getting stronger until it hit the A$1.8000 mark. At this point the pound faltered and headed back toward A$1.7000. However, the Aussie hasn’t [...]
Obama’s new act will prove costly for City firms June 15, 2010 PARTNER, WITHERS LLP ON 18 March 2010 President Obama signed the Hiring Incentives to Restore Employment (HIRE) Act, creating far-reaching client identification and disclosure requirements for every City bank, financial institution, brokerage house and fund structure. While the act is intended to boost US employment through tax breaks for US businesses, it also contains revenue-raising [...]
OFT should look at anticompetitive activity June 15, 2010 PARTNER, JONES DAY LLP EARLIER this year the Office of Fair Trading (OFT) published a report looking at the competition implications of firms taking minority interests in their competitors. Now the results are in, it looks likely that the regulator will take a closer look at this area. The report examines minority shareholdings, interlocking directorships [...]
Vroom vroom: say hi to the real deal June 15, 2010 THE first car I owned was a Mini, a 1973 Mini Mk II with an 850cc engine. Even though it was pretty much the only car I had ever driven, I knew it was unusual. If you wound it up it would do 80mph and make a proper car noise getting there. At speed, it [...]
Debut would be a ‘dream’ says Dawson June 15, 2010 MICHAEL DAWSON last night admitted it would be a “dream” to make his England bow against Algeria on Friday night. The uncapped Spurs defender could be thrown into the deep end by coach Fabio Capello and fill in for club mate Ledley King, who suffered a groin muscle injury in the 1-1 draw with United [...]
Hughes leads dad Hannon to Ascot double June 15, 2010 JOCKEY Richard Hughes was the toast of Royal Ascot after leading Canford Cliffs to victory in the big race of the day, the St James’s Palace Stakes, on his way to an opening day double. The Richard Hannon-trained three-year-old had been beaten by stablemate Dick Turpin in their two previous encounters, but gained sweet revenge [...]
Stunned Brazil break Korean resolve June 15, 2010 BRAZIL (2) vs NORTH KOREA (1) THEY may be in the so-called ‘Group of Death’, but North Korea are far from dead yet as they gave five-time winners Brazil the fright of their lives in Johannesburg last night. The Koreans defended resiliently to keep their goal in check at the break, only for the top [...]
