ECB’s Asmussen warns against unilateral forex moves


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Posted: 27 Jan 2013 01:46 AM PST
Heizo Takenaka:
  • Yen’s recent fall was a result of a correction from an excessive strength,
  • The BOJ’s latest easing measures aimed at beating deflation, not a weaker yen.
  • “This correction has just started, it’s not fair to say the yen has depreciated too much,”
  • “There’s not a very scientific way of thinking about where the yen will end, but lots of people think a range around 95 to the dollar is appropriate at the moment,”
Japan PM Advisor: Yen Still Has Room to Weaken Further (gated)
Posted: 26 Jan 2013 05:08 PM PST
I remember that Dennis Bergkamp goal as though it were yesterday……
http://uk.eurosport.yahoo.com/video/eight-old-scores-bergkamp-esque-115406892.html
And here’s the original…..exquisite :)
Posted: 26 Jan 2013 04:28 PM PST
Posted: 26 Jan 2013 02:24 PM PST
Latest from Liam
Friday I went to visit my favourite UK economic indicator…………………my barber Dave.
Dave says business is horrendous and things have deteriorated since Christmas.  He says the recent poor weather isn’t helping.
That’ll do for me.
You heard it here first :)
Posted: 26 Jan 2013 01:27 PM PST
You’re missing the main driver Kathy!!
Here it is
Yep that’s it; Perfect Pete went for 1.3450 before 1.3250………game over peeps :)
Posted: 26 Jan 2013 12:56 PM PST
Give me a break. All this whining about competitive currency devaluations is getting on my nerves.  Currency Wars………………..what a load of old cobblers.
USD/JPY is around 91.00 not 120 for heavens sake. Get over it!!
Posted: 26 Jan 2013 11:53 AM PST
Financial Times: Monetary policy:  Next BoE governor prepared to tolerate higher inflation
(If your want to read the article, do a google search using the above headline.  If your trade sterling you should read it)
Posted: 26 Jan 2013 11:05 AM PST
Latest from the Big German.
Given they’ve had the direction right lately and reasoning pretty spot on, thought I’d post their latest thoughts.  Interesting, especially as we’re approaching the tricky 1.3490/00 area (well I think it could be tricky, but what do I know?)
Your thoughts most welcome.  Do you think they’re on the right track, or are they pushing the envelope a little too far?
Posted: 26 Jan 2013 07:31 AM PST
Politico is carrying an article that suggests satellite imagery is showing North Korea could be well advanced in its plans for a nuclear test:
The images of the Punggye-ri site, where nuclear tests were conducted in 2006 and 2009, reveal that over the past month, roads have been kept clear of snow and possible steps taken to seal the tunnel into a mountainside where a nuclear device would be detonated.
But it remains difficult to discern North Korea’s true intentions, as a test would be conducted underground.
Of course, this could well be posturing by the North so as to try to enhance their bargaining chips in negotiations.
Posted: 26 Jan 2013 07:18 AM PST
  • Germany could do more to support domestic demand.
  • each country needed to look at what it could do to boost the euro zone
Reuters
Posted: 26 Jan 2013 07:15 AM PST
The Bank of Korea has questioned the BOJ’s latest actions to ease monetary policy, saying:
  • the 2014 asset-buying plan could ‘have unintended consequences’
  • The level of the Yen is a problem
  • The BOJ acted too hastily
Posted: 26 Jan 2013 07:10 AM PST
The four-member board of the Bank of Italy was meeting on Saturday to consider the position of scandal-hit bank Monte dei Paschi di Siena and decide whether to authorize its request for 3.9 billion euros ($5.3 billion) of state loans.
Reuters
Posted: 26 Jan 2013 07:08 AM PST
Speaking in Davos, the IMF head said the Fund is interested in Japan’s latest policies and would like to see them ‘complemented’ by a mid-term debt reduction plan.
(via Reuters)
Posted: 26 Jan 2013 06:59 AM PST
In a video broadcast to Davos participants, Abe said he was determined to end deflation in Japan by putting measures in place “promptly”
He also said the BOJ was guaranteed independence, though the BOJ and government can share policies.
Posted: 26 Jan 2013 06:53 AM PST
The latest tantrum out of North Korea …
(Reuters) – North Korea threatened to attack rival South Korea if Seoul joined a new round of tightened U.N. sanctions, as Washington unveiled more of its own economic restrictions following Pyongyang’s rocket launch last month.
Speaking in Beijing, U.S. Special Representative for North Korea Policy Glyn Davies said he found North Korea’s rhetoric “troubling and counterproductive,” and that he and his Chinese counterparts had agreed a new nuclear test would be harmful.
North Korea threatens war with South over U.N. sanctions
Posted: 26 Jan 2013 03:49 AM PST
Posted: 26 Jan 2013 03:45 AM PST
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