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New York Times (May 21)

2022/ 05/ 22 by jd in Global News

“The euro hasn’t fallen below the one-to-one exchange rate with the U.S. dollar for two decades. But as economic risks grow, more analysts predict deeper lows for the shared currency.” The U.S. currency is considered one of the safest havens “for money as the risk of stagflation — an unhealthy mix of stagnant economic growth and rapid inflation — stalks the globe.”

 

The Economist (August 10)

2019/ 08/ 11 by jd in Global News

“Since the trade war began in 2018 the damage done to the global economy has been surprisingly slight.” No longer. “This week the picture darkened as the confrontation between America and China escalated, with more tariffs threatened and a bitter row erupting over China’s exchange rate.” Compromise is essential. “But for that to happen President Donald Trump and his advisers must rethink their strategy…. America cannot have a cheap currency, a trade conflict and a thriving economy.”

 

Forbes (February 6)

2018/ 02/ 08 by jd in Global News

“The dollar-euro exchange rate is the most important price in the world…. How so? These are two surpassingly large economic areas, and they trade and invest more than enough with each other—such that each imports the other’s entire relative price structure…. Change that exchange rate in a big way—a fifth is plenty big—and all sorts of new decisions will come in terms of where one plans to invest, produce, and sell.”

 

Bloomberg (June 2)

2017/ 06/ 04 by jd in Global News

“China’s yuan policy has blindsided forecasters once again. The sudden surge in the last four days — for the onshore exchange rate, it’s been the steepest gain in more than four months — pushed the currency beyond levels predicted by even the most optimistic analysts.” At least eight analysts rushing to change their estimates. This is not the first time they have been caught flat footed. “Market watchers were caught off guard earlier in the year as well, when the yuan confounded expectations by strengthening in the first quarter.”

 

Wall Street Journal (August 23)

2015/ 08/ 25 by jd in Global News

“The People’s Bank of China is preparing to flood the banking system with liquidity to boost lending,” most likely by reducing the reserve-requirement ratio by half a percentage point. The planned move “signals that the Chinese central bank’s exchange-rate maneuvering in the past two weeks is backfiring, forcing it to again resort to the reserve-requirement reduction, the same easing measure that so far has failed to help spur economic activity.”

 

 

Washington Post (December 16)

2014/ 12/ 17 by jd in Global News

“The drama playing out in Russia on Tuesday was not pretty. The ruble’s exchange rate has collapsed by some 50 percent against the dollar since mid-June, with an accelerating fall in recent days….Russia now faces a full-blown currency crisis.” The crisis, however, did not spring out of nowhere. “For President Vladimir Putin, the crisis is his own doing, a direct outgrowth of a meddlesome adventure into Ukraine.”

 

The Wall Street Journal (November 28, 2013)

2013/ 11/ 29 by jd in Global News

“Investors are piling into bets against the yen.” Based on data from the Commodity Futures Trading Commission (CFTC), “wagers that the Japanese currency will slide against the U.S. dollar have surged to the highest amount this year and are within striking distance of levels not seen since 2007.” With the Fed poised to taper and the Bank of Japan set to maintain and possibly expand its already aggressive monetary easing program, some expect the exchange rate to move to 110 yen versus the dollar.

 

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