On the eve of an economic summit in South Korea, disturbing signs of discord are emerging over currency valuations and trade between the U.S. and its major trading partners. Failure to achieve an agreement could set off more “c…
China surprised international markets Tuesday by raising key interest rates for the first time in three years. The move sparked a worldwide sell-off on worries that it could cause the Chinese economy to slow down.
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The U.S. dollar traded near an eight-month low against the euro on bets that the Federal Reserve will signal it is willing to buy more government debt in order to stimulate the economy.
The U.S. dollar traded at $1.3940 per euro as of 11:08 a.m. in London, Bloomberg News reported. It fell to $1.4012 earlier today and reached $1.4029 on Oct. 7, the weakest since Jan. 28.
Weak…
Continue reading U.S. Dollar Trades Near 8-Month Low on Fed Bets
U.S. Dollar Trades Near 8-Month Low on Fed Bets originally appeared on DailyFinance on Mon, 11 Oct 2010 08:09:00.
Filed Under: Economy, People, Investing, Credit, Currency, Market News
A bill, passed by the U.S. House of Representatives Wednesday, would let U.S. companies petition for duties on Chinese imports — a move that would hurt the global economy if it became law, the Chinese government said.
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Countries from Japan to Brazil and Mexico to Malaysia are trying to intervene in currency markets to alter the value of their currency. The widespread dependence on exports is the prime reason for these moves, which can be tric…