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Haydn W

The return of the US dollar | Mohamed El-Erian | Business | theguardian.com - 4 views

www.theguardian.com/...d-el-erian-return-of-us-dollar

shared by Haydn W on 18 Nov 14 - No Cached
  • The return of the US dollar The resurgence of the US currency could be the first promising step in steering the world economy away from crisis
  • The US dollar is on the move. In the last four months alone, it has soared by more than 7% compared with a basket of more than a dozen global currencies, and by even more against the euro and the Japanese yen.
  • Two major factors are currently working in the dollar’s favour
  • ...11 more annotations...
  • Second, after a period of alignment, the monetary policies of these three large and systemically important economies are diverging, taking the world economy from a multi-speed trajectory to a multi-track one.
  • First, the United States is consistently outperforming Europe and Japan in terms of economic growth and dynamism – and will likely continue to do so – owing not only to its economic flexibility and entrepreneurial energy, but also to its more decisive policy action since the start of the global financial crisis.
  • With higher US market interest rates attracting additional capital inflows and pushing the dollar even higher, the currency’s revaluation would appear to be just what the doctor ordered when it comes to catalysing a long-awaited global rebalancing – one that promotes stronger growth and mitigates deflation risk in Europe and Japan.
  • ECB President Mario Draghi signalled a willingness to expand his institution’s balance sheet by a massive €1 trillion ($1.25 trillion).
  • Furthermore, sudden large currency moves tend to translate into financial-market instability.
  • There is also the risk that, given the role of the ECB and the Bank of Japan in shaping their currencies’ performance, such a shift could be characterized as a “currency war” in the US Congress, prompting a retaliatory policy response.
  • Today, many of these countries have adopted more flexible exchange-rate regimes, and quite a few retain adequate reserve holdings.
  • an appreciating dollar improves the price competitiveness of European and Japanese companies in the US and other markets
  • But a new issue risks bringing about a similarly problematic outcome: By repeatedly repressing financial-market volatility over the last few years, central-bank policies have inadvertently encouraged excessive risk-taking, which has pushed many financial-asset prices higher than economic fundamentals warrant.
  • This is not to say that the currency re-alignment that is currently underway is necessarily a problematic development; on the contrary, it has the potential to boost the global economy by supporting the recovery of some of its most challenged components. But the only way to take advantage of the re-alignment’s benefits, without experiencing serious economic disruptions and financial-market volatility, is to introduce complementary growth-enhancing policy adjustments, such as accelerating structural reforms, balancing aggregate demand, and reducing or eliminating debt overhangs.
  • The US dollar’s resurgence, while promising, is only a first step. It is up to governments to ensure that the ongoing currency re-alignment supports a balanced, stable, and sustainable economic recovery. Otherwise, they may find themselves again in the unpleasant business of mitigating financial instability.
  • Haydn W on 18 Nov 14
     
    This article details the so called resurgence of the US dollar, in terms of currency value. The currency itself has risen by around 7% against other currencies but Guardian economist Mohamed El-Erian warns that without the appropriate accompanying central bank policies, the rise of the dollar could cause further market volatility and at worst a new crash. El-Erian calls for governments to enact policy to support balance the current currency realignment. 
Marenne M

Nigeria devalues currency as oil prices drop - FT.com - 5 views

www.ft.com/...9b-11e4-8321-00144feabdc0.html

'currency value'

shared by Marenne M on 25 Nov 14 - No Cached
  • Nigeria has devalued its currency by nearly 10 per cent and raised interest rates to record levels, in one of the clearest signs yet of how oil producing nations are struggling as energy prices drop sharply.
  • Marenne M on 25 Nov 14
     
    This article describes the devaluation of the fixed currency rate of Nigeria as a result of the decreased energy prices. Nigeria is an oil producing country and therefore earns a lot of its income through oil exports. Now that the prices of other energy has dropped, there is a lower demand for the Nigerian oil, leading to fewer exports. The Nigerian central bank has now devaluated its currency by 8.4 percent in the hope that the lower prices will encourage a greater demand for their oil exports.
John B

No downward pressure on currency: banker - 3 views

www.gulf-times.com/...d-pressure-on-currency:-banker

Currency value

shared by John B on 21 Nov 14 - No Cached
  • John B on 21 Nov 14
     
    This article deals with the currency of Sri Lanka, the rupee. The traders say there is a downward pressure on the currency, while the government denies this.
Yassine G

Islamic State Says It Plans to Issue Its Own Currency - NYTimes.com - 2 views

www.nytimes.com/...o-issue-its-own-currency-.html

currency supply value

shared by Yassine G on 22 Nov 14 - No Cached
  • Yassine G on 22 Nov 14
     
    This article talks about how a group of people is considering creating their own currency.This raises many questions as would it be acceptable and what s the outcome on the rest of the world's economy especially that gold is intend to be used. 
Aleksi B

Toyota posts 23% jump in net income, helped by weak yen, cost cuts - 2 views

www.autonews.com/...e-helped-by-weak-yen-cost-cuts

Currency values cost cuts toyota

shared by Aleksi B on 25 Nov 14 - No Cached
  • Aleksi B on 25 Nov 14
     
    This article shows that taking advantage of different currencies Toyota managed to increase their net profit
Mariam P

Russians boost foreign-currency deposits in October -central bank data - 6 views

www.reuters.com/...deposits-idUSL6N0T841O20141118

currency values

shared by Mariam P on 24 Nov 14 - No Cached
  • Mariam P on 24 Nov 14
     
    Russians had 3.856 trillion roubles' ($82.27 billion) worth of foreign-currency deposits as of Nov. 1, compared to 3.421 trillion roubles on Oct. 1, an increase of more than 12 percent. Their rouble deposits fell by 0.3 percent to 13.829 trillion roubles over the same period, according to the central bank.
  • Pip Dop on 29 Nov 14
     
    The article presents an insight on what seems to be the most significant economic effect of the sanctions the EU has imposed on it in response to their invasion of the Ukraine.
Zube Iheobi

Banks brace for £3bn fine over foreign exchange rigging | The Times - 0 views

www.thetimes.co.uk/...article4264317.ece

exchange rates

shared by Zube Iheobi on 30 Nov 14 - No Cached
  • Zube Iheobi on 30 Nov 14
     
    foreign exchange rigging displays the vitalness and potential benefits that can com from aving a good value to your currency
Hyobin Lim

Russia's Currency Is Plummeting and Putin's Billionaires Are Cannibalizing Each Other - 2 views

www.newrepublic.com/...psing-due-sanctions-stagnation

currency rubles

shared by Hyobin Lim on 23 Nov 14 - No Cached
  • Daniel Soto Aggard on 23 Nov 14
     
    The article concerns over the depreciation of the Ruble over the recent months that have passed. It was predicted that the Ruble would reach approximately 32.86 Rubles to the US dollar. However last month (November 1st to be exact), the Ruble reached a staggering 43 rubles to one US dollar. Being a 30 percent increase before the predicted depreciation. It has depreciated so suddenly and so quickly that the value is being measured, monitored, and shown by the minute rather than the day. Thus creating panic.
  • Hyobin Lim on 26 Nov 14
     
    Despite the Russian Central Bank's spending of $40 billion over the last two months, the ruble has been significantly dropping for weeks. The price of 1 USD was 32.86 rubles in January, but is now 43 rubles, a drop of over 30%. Food prices in Russia have sky rocketed, dairy and meat costing over 10% more.
Aleksi B

India Plans Price Controls on Patented Drugs - WSJ.com - 0 views

online.wsj.com/...390443819404577633070809995582

india price controls drugs

shared by Aleksi B on 17 Nov 13 - No Cached
  • India plans to widen the scope of price controls on pharmaceuticals
  • The new proposals would extend price restrictions beyond generic medicines to apply for the first time to patented drugs
  • The plans come as Bayer AG BAYN.XE -0.17% Bayer AG Germany: Xetra €94.89 -0.16 -0.17% Nov. 15, 2013 5:35 pm Volume : 2.67M P/E Ratio 25.24 Market Cap €78.47 Billion Dividend Yield 2.00% Rev. per Employee €363,176 10/31/13 Bayer Boosted by New Drugs 09/13/13 Bayer Under Scrutiny in China More quote details and news » BAYN.XE in Your Value Your Change Short position is fighting an order from India's patent authority that required the Germany company to issue a license allowing an Indian generic-drug company to sell a less expensive copy of Bayer's patented cancer drug Nexavar.
  • ...3 more annotations...
  • India sets prices for 74 generic medicines and is considering increasing the number of medicines covered by price caps to 348
  • Any attempt to restrict prices of patented drugs likely will rankle foreign pharmaceutical companies
  • The move raised fears in India that without price controls patented drugs might be unaffordable for a majority of the country's 1.2 billion people.
  • Aleksi B on 17 Nov 13
     
    The article explains on how India are planning to put price controls on their drugs making them go for lower prices so that people can afford them.
Clemence Lafeuille

UK industry export orders hit euro headwinds - 3 views

news.sky.com/...port-orders-hit-euro-headwinds

UK exchange rates currency values

shared by Clemence Lafeuille on 20 Nov 14 - No Cached
  • Clemence Lafeuille on 20 Nov 14
     
    This article talks about the loss of faith there is in the Euro currently because of the conflict with Ukraine and Russia, and how that negatively impacts the UK because its main export zone is Europe. Also, it mentions that the pound is strong when maybe it would be better if the pound was weak, so that refers back to our debate of "Is it better to have a strong or weak currency?"
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