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| Europe : Pound Gains on Stock Market Optimism |
By: mayster  9 November 2008 view: 9
Pound Gains on Stock Market Optimism  The Great Britain pound gained today against the other major currencies as the growth on the global stock markets spurred optimism and the high-yielding pound showed a stronger reaction to this uprise.
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| Europe : Russian Foreign Currency Reserves Continue to Grow |
By: mayster 9 November 2008 view: 8
Russian Foreign Currency Reserves Continue to Grow  Foreign currency reserves of the Russian Federation grew up for the seventh week in a row and now are at their record high value - $459.6 billion.
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| Europe : Why the greenback is on a tear |
By: admin 11 October 2008 view: 49
Why the greenback is on a tear
Surprisingly, a financial panic rooted in aversion to debt has spared the currency of the world's biggest debtor.
NEW YORK (Fortune) -- There's a silver lining in the financial panic of 2008: the surprising strength of the dollar.
Investors have spent the year fleeing the scourge of leverage - the accumulation of assets via massive amounts of debt. A collapse of market confidence contributed to the failure of heavily indebted firms like Lehman Brothers and Washington Mutual, and forced the nationalization of AIG (AIG, Fortune 500) and others. Panic sales of companies that depend on borrowing in the locked-up short-term credit markets have only accelerated this week, with Morgan Stanley (MS, Fortune 500) off 25% two days in a row.
But it could be worse, believe it or not. While the stock market's October dive has decimated brokerage statements and retirement accounts around the world, the selling so far has spared the currency of the biggest debtor of all, the U.S. government.
In a twist few predicted, the rush away from risky assets has actually been good for the dollar - even though the U.S. needs to borrow $2 billion a day from its creditors overseas just to keep the lights on, and ... >
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