Archive for May, 2010

Yesterday’s decision by the European Central Bank to leave rates unchanged and to rule out intervention in the bond markets, or any other type of fiscal intervention saw the Euro continue to fall, and saw risk aversion take hold with a vengeance with the US dollar and the yen making large gains. Trichet more or...
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Yen safe but not attractive enough to lure investments away from the euro. Last Monday’s ¥145.50 opening marked the high of the week for sterling. A drop to ¥141.50 and a rally to ¥145 set the extremes for the rest of the week and the pound opened in London this morning at ¥144.50. The yen found...
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Swiss Franc remains in step with the euro despite Greek uncertainty. Sterling did not go far from last Monday’s SFr1.66 starting point. Twice it had a look at SFr1.65 and twice it threatened a test of SFr1.64. It opened in London this morning at SFr1.6550, barely changed on the elongated week. With no Swiss...
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Illiquidity and the prospect of higher rates combine to take the NZ dollar higher. Already in a downward trend sterling made no real effort to progress above last Monday’s $2.15 starting point. It opened in London this morning at $2.09 having touched $2.08 over the weekend, a level which may or may not provide...
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