However, the USD has proceeded to outperformed all G10 rivals in the first two weeks of May and was only pipped to top spot by the British pound in the third week of May. Perhaps this rally in the USD should come as no surprise – the dollar has ended May higher than it started in...
The UAE’s state oil company has explored a multibillion pound takeover of BP in a sign that depressed stock market valuations in the UK have made even the biggest companies bid targets. The Abu Dhabi National Oil Company (Adnoc) and BP spoke directly in recent months and Adnoc also...
Under pressure from the Bush administration, China has let its currency, the renminbi, strengthen against the dollar (thus leaving the dollar weaker).* By the summer of 2008, the dollar's slide and the cor- responding rise for European and Asian currencies had begun to alarm financial ...
1. Suppose the Federal Reserve wants to bring the dollar-euro exchange rate back to its old level. Should the fed buy or sell dollars for euros? Why or why not? Explain. 2. Using a supply and demand d Why does the quantity of Canadian dollar...
While I have generally been bullish about the US dollar against most currencies, one exception has been the Japanese yen. In spite of already being overvalued in relation to the greenback, I said on May 29 that I expected the yen to strengthen further and that a rally ending at ¥93 wou...
“international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. The value of the SDR is based on a basket of five currencies, that is, the US dollar, the Euro, the Chinese Renminbi, the Japanese Yen, and the British Pound Sterling” (...
Kerr (2011) provides a key example: ‘Recent developments in the accounting rules applied to banks, and in the broader regulatory framework for banks, have allowed bank executives to overstate their profits, feeding through into multi-million pound bonuses for themselves and short-term gains for ...