The dollar firmed up versus other major currencies on Thursday, skyrocketing against the ailing sterling while paring some of its huge recent losses versus the euro and yen.
Earlier in the week, the dollar was hammered in the wake of the Federal Reserve’s historic rate cut in an attempt to combat recession and facilitate lending. [...]
By Richard Cowan and Lisa Lambert
WASHINGTON, Dec 18 (Reuters) - U.S. Democratic congressional leaders were negotiating details on Thursday of a huge plan to jolt the American economy, including $85 billion for road, water and other construction projects in a bill that could total at least $600 billion.
Senior Democratic aides in the House of Representatives [...]
The Euro soared during overnight trading reaching above 1.4700 for the first time since September 25th, despite a drop in German investor sentiment. The single currency was trending higher when a positive U.K. consumption report sparked broad based risk appetite leading to a spike higher.
Talking Points
• Japanese Yen: BoJ Talks Intervention
• Pound: Retail Sales Unexpectedly Rises
• Euro: Continues [...]
BANGKOK, Dec 12 (Reuters) - Thailand’s central bank expects interest rates to fall further in 2009 after a bigger than expected 100 basis point cut in its policy rate last week, its chief economist said on Friday.
‘The economic outlooks of many countries are heading towards recession, therefore our interest rates should be on a downward [...]