Dale Thomas News
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For the first time in seven months, traders are testing the Swiss National Bank’s determination to limit the franc’s strength against the euro as Europe’s resurgent debt crisis drives up demand for safer assets.
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Foreign-exchange traders, faced with lower volatility and record-low interest rates in the U.S., Europe, the U.K. and Japan, are searching for returns as far afield as Kazakhstan and Nigeria.
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Foreign-exchange strategists have ceased cutting forecasts for the euro as European government officials intensify efforts to end the region’s crisis and traders pare bets for a collapse in the currency.
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The biggest currency fluctuations since the aftermath of the collapse of Lehman Brothers Holdings Inc. are signaling waning confidence in the economic recovery and prospects for a rebound in the euro.
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The dollar’s biggest quarterly decline in eight years may be setting the stage for a rally, if some of Wall Street’s top strategists are to be believed.
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Australian government bonds are poised for their biggest quarterly rally in more than two years as investors seeking alternatives to the U.S. dollar and euro buy the so-called Aussie.
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The yen declined against the euro and the dollar for a third day on signs the global economic recovery is gaining momentum, damping demand for the safety of Japan’s currency.
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In the last two years there has been no better place for foreign-exchange investors than in nations whose economies are tied to commodities. Now the rally has left those currencies at least 9.5 percent overvalued based on the relative costs of goods and services as measured by the Organization for Economic Cooperation and Development.
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Traders are losing confidence in Group of 20 finance officials’ pledge to avoid foreign-exchange manipulation, less than a week after the leaders vowed to stop devaluing currencies to prop up their economies.
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