Hey friends,
Hope you guys had a great weekend.
Just some news that we received today from Bloomberg:
1) After a 4-day decline, the EURO still remains low against the Yen (Yui & Kondo, 2012).
“Buying the euro makes no sense,” said Marito Ueda, senior managing director in Tokyo at FX Prime Corp. (8711), a currency margin company. “The European Central Bank is tied up with tackling the region’s sovereign-debt problem and has no room left to bolster the economy through monetary policy.”
- Yui & Kondo, 2012
2) Although gained last week,the CAD was at its lowest in almost a week against the USD and dropped for the first time in five days after the Yen (Fournier, 2012).
3) The Australian and NZ Dollars remained low after raw materials prices fell (Ishikawa, 2012). Hans Kunnen, chief economist at St. George Bank Ltd. in Sydney, implies that the AUD & NZD are tied with Europe and should it decline further, it may bring the RBA (Reserve Bank of Australia) down with it (Ishikawa, 2012).
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