| MONEY MARKETS-Dollar funding costs ease ahead of Bernanke (at Reuters) * Dollar funding costs ease for sixth straight day * 3-month dollar Libor rates ease half a basis point * Euro interbank lending rates hit fresh 11-month highs us.rd.yahoo.com |
British Pound Rallies For Ninth Day, Euro Breaks Above 1.3250 (DailyFX) The British Pound extended the sharp rally from the previous day, with the exchange rate advancing to a six-month high 1.5967 during the overnight trade, and the GBP/USD may continue to retrace the decline from earlier this year as market participants speculate the Bank of England to normalize monetary policy going into the following year. finance.yahoo.com |
Japan Acts to Weaken Yen [at New York Times] - Japan moved to weaken the yen to aid its economy, its first intervention in the currency markets since 2004. us.rd.yahoo.com |
Euro bailout fund chief expects to make no loans [at Reuters] - The head of the euro zone s financial safety net said on Tuesday he does not expect states to tap the fund, which was set up earlier this year at the height of market panic over the euro zone s debt crisis. us.rd.yahoo.com |
Weak economy has nations waging currency wars Washington - Fears of a full-blown currency war flared as the US dollar fell to an eight-month low against the euro and the US stepped up pressure on China to let its currency rise.The escalating tension threatened to dominate... nzherald.co.nz |