The Obama Victory and Interbank Forex
US president elect Barack Obama faces an unprecedented global financial crisis and how he addresses the situation may well define his presidency for years to come. Obama faces a national debt in the trillions and his appointees will be charged with overseeing the massive $700 billion dollar bailout program.
Speculation and Rumors
27 March 2009
Dollar’s Reserve Status Questioned Speculation and rumors about the US dollar’s status as the world’s reserve currency have been widespread. Interbank forex exchanges around the world have been paying particular attention to these rumors and statements. The replacement of the dollar as a reserve currency would seriously disrupt currency markets including the interbank forex. Dollar’s Reserve Status [...]
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Dumping the Dollar?
23 March 2009
Markets Depend on the Dollar The idea of a reserve currency is centuries old. After the Second World War the US dollar was placed at the center of the international banking system by the Bretton Woods agreement. Interbank forex brokers calculated transactions against the US dollar and under the Bretton Woods system dollars could be exchanged [...]
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Slight Recovery For the Dollar
20 March 2009
Conflicting Reports Conflicting
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US Will Not Nationalize Banks-Markets Respond
23 February 2009
Us to Have 40% Stake in Citibank Markets have responded positively to the news that the US will have a 40% stake in Citibank calming fears of total bank nationalization. Interbank forex brokers were pleased with the news and the return to risk appetite. The Japanese Yen fell on Monday and surrendered some of its safe [...]
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Yen Rises Despite Japan’s GDP
16 February 2009
Yen Edges Higher The Japanese Yen edged higher Monday after the weekend meeting of the G7 made no specific reference to the Yen’s strength on currency markets. Interbank forex brokers had been watching the meeting closely and many indicated that currency markets will take their cue from Equity markets. Interbank Forex markets had been concerned about [...]
Posted in Interbank Forex MarketsComments (1)
Risk Aversion Continues
15 February 2009
Risk Aversion Dominant Risk aversion has dominated Forex markets for months. Returns to risk appetite are usually short lived. Currency markets have been especially volatile and investors, including interbank forex brokers have flocked to the safe haven of the US dollar and the Japanese Yen. This weekend the G7 meeting in Rome has captured the attention [...]
Posted in Interbank Forex MarketsComments (2)
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