The New Zealand dollar weakened for a fourth day as central bank Governor Alan Bollard said a gradual depreciation of the currency is desirable.
Moody’s Investors Service said it’s assessing the risk of currency depreciation damaging the creditworthiness of emerging-market companies after record foreign bond sales.
3M Co., the maker of products from Scotch tape to auto insulation, reported first-quarter earnings that trailed analysts’ estimates as demand from Latin America slowed and foreign currencies weakened.
China’s yuan headed for the biggest weekly rally in almost three years on speculation the central bank will tolerate gains after the trade surplus widened.
The only consensus on the dollar is that there’s no consensus.
The largest emerging markets, whose economies grew more than four-fold in the past decade, are making losers out of everyone from central bankers to Procter & Gamble Co. as their currencies post the biggest declines since at least 1998.
Brazil’s central bank signaled today it will continue tightening monetary policy as above-target inflation remains persistent. Swap rates rose.
HFE’s Weinberg Says G7 Supports Japan “For Now”