Dollar Near 2-Week High

Published: 10 June 2004 y., Thursday
The dollar traded near its highest in two weeks against the euro in Asia after Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, said a consistent pick-up in inflation ``will require more aggressive policy.'' The president of Fed's New York branch, Timothy Geithner, also said yesterday policy makers would do what is ``necessary to curb inflation,'' a day after Fed Chairman Alan Greenspan suggested he was willing to abandon the bank's commitment to raising rates at a ``measured'' pace. ``Investors are starting to look into the chance the Fed will steer itself toward more aggressive rate increases,'' said Hiroyuki Yamada, who manages $1 billion in overseas debt at Daiwa SB Investments Ltd. in Tokyo. ``That's increasing the dollar's appeal for now because of higher rates'' dollar-denominated debt will offer. Against the euro, the dollar was at $1.2038 at 8:36 a.m. in Tokyo from $1.2049 late yesterday in New York, according to EBS, an electronic foreign-exchange dealing system. It traded as high as $1.2023, the strongest since May 25. The yen may gain against the euro on expectations Japan's machinery orders in April rose for the first time in two months, as a recovery in the world's second-largest economy picks up.
Šaltinis: Bloomberg
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

EU to hold top-level discussion on economic situation

On 11 February, heads of state or government of European Union member states will meet in Brussels to seek a commitment towards implementing a revitalised economic strategy to boost employment and growth in the EU. more »

IMF Sees Growth in Lithuania in 2010-2011

International Monetary Fund forecasts that Lithuania’s economy will grow 1.6 % this year, making it “the only one of the three Baltic economies expected to be in the positive territory in 2010”. more »

Ryanair to Open Its 1st Central European Base in Kaunas

Raynair announced it would open its 40th and 1st Central European base at Kaunas, Lithuania’s second largest city, in May with 2 based aircraft and 18 routes. more »

A new strategy to strengthen World Bank partnership with the Kingdom of Morocco

A new Partnership Strategy for Morocco has been approved by the Board of Executive Directors of the World Bank. more »

Sebastián: “The electric car is an opportunity for European industry”

The electric car is an opportunity for European industry. more »

EBRD launches new strategy for Kazakhstan

The EBRD’s Board of Directors has adopted a new strategy for Kazakhstan, which reinforces the Bank’s commitment to further support the Kazakh economy and sets out the priorities for its activities in the country over the next three years. more »

State aid: Commission approves Swedish State guarantee for Saab

The European Commission has authorised, under EU state aid rules, plans notified by Sweden to provide a guarantee that would enable Saab Automobile AB to access a loan from the European Investment Bank (EIB). more »

The EU wants to showcase the commitment of science to economic recovery

At the informal meeting of the Ministers of Competitiveness (Science and Industry), to be held between 7 and 9 February in San Sebastian, the issues on the table will include placing science at the top of the EU agenda and showcasing its role in economic recovery, as well taking the debate on the electric vehicle to EU level. more »

IMF Executive Board Approves US$1.27 Billion Stand-By Arrangement with Jamaica

The Executive Board of the International Monetary Fund (IMF) today approved a 27-month Stand-By Arrangement with Jamaica in the amount of SDR 820.5 million (about US$1.27 billion) to support the country’s economic reforms and help it cope with the consequences of the global downturn. more »

Statement of an IMF Staff Mission to the Kyrgyz Republic

Mr. Nadeem Ilahi, chief of an International Monetary Fund (IMF) staff mission to the Kyrgyz Republic, issued the following statement today in Bishkek. more »