Daily Market Report
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The British pound depreciated by 2% against the US dollar after the release of dismal UK manufacturing
Mon, Dec 1 2008, 13:31 GMT
by Wachovia Research Team
Overnight, the British pound depreciated by 2% against the US dollar after the release of dismal UK manufacturing and mortgage lending data, which increased the expectation that the BOE will ease rates this coming Thursday.
The Australian dollar and New Zealand dollar both fell as a result of declining local equities in addition to the high likelihood that both central banks will aggressively ease interest rates at central bank meetings later this week.
The Chinese yuan fell by the largest amount since the government ended its fixed exchange rate in 2005. Policy makers believe that the government is allowing the currency to depreciate in an attempt to support the slowing demand for the country?s exports.
Published on Mon, Dec 1 2008, 13:32 GMT
Archive
- Risk aversion was the main theme of yesterday's trading session
Published On Fri, Jul 3 2009, 12:25 GMT - The US dollar and the yen fell against most major currencies
Published On Thu, Jul 2 2009, 13:25 GMT - The US dollar strengthened against the euro and the pound yesterday
Published On Wed, Jul 1 2009, 12:25 GMT - Daily Market Report
Published On Tue, Jun 30 2009, 12:50 GMT - The Swiss franc ended the week lower against the euro
Published On Mon, Jun 29 2009, 13:56 GMT
Wachovia Corporation
| P.O. Box 025383 Miami, FL 33102-5383
http://www.wachovia.com | sam.bullard@wachovia.com
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