Return to normality will be bad news for the yen May 4, 2010 TODAY is the last day of Golden Week in Japan, one of the country’s most important public holidays. But the last few months have been anything but golden for the yen. The currency has fallen by more than 10 per cent against the US dollar and nearly 8 per cent against sterling. There are a [...]
CREDIT RISK WILL DECIDE EURO’S FATE May 4, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT THE initial reaction of the currency market to this weekend’s announcement of a €110bn rescue package for Greece was less than overwhelming. After a knee-jerk rally higher at open of trade, euro-dollar slumped all the way to $1.3200 and came within a few points of the lows for the year. [...]
Making returns on the Russian rouble just got a whole lot easier May 4, 2010 AT THE end of last week, the Russian central bank chose to cut interest rates by 25 basis points to encourage loan growth and stimulate the economy – despite mounting concerns about inflationary pressures. Bank Rossii has been making it increasingly clear that the monetary easing cycle is now slowing. Indeed, finance minister Alexei Kudrin [...]
FOREX FLASH May 4, 2010 AUSSIE CENTRAL BANK HIKES RATES AGAIN The Reserve Bank of Australia yesterday decided to increase the cost of borrowing for the sixth time in seven meetings. The benchmark rate is now at 4.5 per cent. The Australian dollar fell in the wake of the announcement to US$0.9189 as investors anticipated a pause in the coming [...]
The Tipster May 4, 2010 ALTHOUGH the situation in Greece has put enormous pressure on the euro, the Swiss franc has held remarkably firm above the SFr1.4320 level over the past month when you might have expected euro-Swiss franc to fall even further. The Swiss National Bank has been supporting the franc at around SFr1.4325 in a bid to prevent [...]
Australian mining tax and Greece’s EU bailout drag FTSE to a two-month low May 4, 2010 BRITAIN’S top share index fell sharply yesterday to a two-month closing low as Eurozone debt contagion fears grew, hurting banks, and with miners hit by an Australian mining tax and concerns over tightening in China. The FTSE 100 closed down 142.18 points, or 2.6 per cent, at 5,411.11, its lowest close since early March. The [...]
Fears over looming debt crisis spook US markets May 4, 2010 INVESTORS dumped US stocks yesterday in Wall Street’s worst session in three months on the fear that even with a bailout for Greece, Europe’s debt crisis could spread to other weak euro zone countries. The sell-off echoed a wave of fear that gripped financial markets as investors fretted the crisis in Europe could derail the [...]
Redknapp: Pressure on City May 4, 2010 MANCHESTER CITY vs TOTTENHAM Sky Sports 2, tonight, ko 8pm TOTTENHAM manager Harry Redknapp insists the burden of expectation rests on Manchester City, not his own charges, as he prepares to take a tilt at history tonight. Victory at Eastlands over their fourth-place rivals would guarantee Spurs a place in the Champions League – an [...]
England limp past Ireland May 4, 2010 ENGLAND ambled into the last eight of the World Twenty20 last night after persistent rain in Guyana rendered their Group D decider against Ireland a no-result. Eoin Morgan, playing against the country of his birth, again proved England’s star performer with a determined 45 off 37 balls helping them reach 120-8. Ireland’s response was never [...]
Collingwood’s men can rival the favourites May 4, 2010 IT may have been anticlimactic, but England are through – and I think they now have a hell of a chance of winning the World Twenty20. We’ve seen two very different England performances, but then they were on two very different pitches. Monday’s surface was great for shot-making and they played brilliantly to make 190 [...]
