| HK s Yam eventually sees yuan as third global currency (Reuters) Only China s yuan could rank with the dollar and euro as pillars of the global monetary system, given time and five key tests, Hong Kong s former Monetary Authority chief Joseph Yam was quoted as saying. finance.yahoo.com |
Onex, CPPIB eye $4.5 billion bid for Britain s Tomkins (Reuters) Onex Corp and the Canada Pension Plan Investment Board are considering a $4.5 billion takeover bid for UK car parts maker Tomkins Plc as the weak British pound encourages two more North American investors to snap up assets. finance.yahoo.com |
Euro at Risk Ahead of Money Supply Report But Stock Gains May Deter Sellers (DailyFX) The Euro looks vulnerable as accelerating money supply growth puts downward pressure on the single currency’s yield advantage but a rebound in risk appetite hinted by stock index futures may deter sellers in the near term. finance.yahoo.com |
Currency Correlations Loosen as the Lack of a Clear Cross-Market Sentiment Trend Curbs Trading [DailyFX] - The most remarkable shift in FX-based correlations through the past month was the general slackening of the connection between short-term price swings. This was not just a weakening in the related moves between two pairs at the extremes of the yield-differential spectrum or a pair of exchange rates that share a tight fundamental tie. finance.yahoo.com |
Wall Street bounces on weak dollar, strong earnings Wall Street bounced back on Wednesday as a fall in the dollar spurred buying in industrial and commodity-linked shares, while another batch of strong corporate earnings added to gains. finance.yahoo.com |