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  • Western Union Business Solutions - Loonie slumps three-straight days
    executive director of foreign exchange sales Shane Enright with CIBC World Markets told the news source The Wall Street Journal reports the monetary unit suffered in the aftermath of remarks by Harry Reid majority leader of the senate who noted that leaders have achieved minimal advancement regarding the year end deadline to prevent tax rises and spending cuts Doubts about the pact that euro zone finance ministers finalized on Monday evening also are drawing down the loonie The Wall Street Journal reports Category Industry News Share Foreign Exchange Services for Business With a focus on payment services Western Union Business Solutions enables businesses of all sizes to send funds internationally through our global payment solutions See our available FX payment services Related posts Loonie reverses four days of losses against the greenback The value of the monetary unit of Canada reversed four days of gains against the U S dollar on Wedn Loonie s rally to dollar touches four days The value of the Canadian dollar climbed against its southerly rival for a fourth consecutive day on Loonie slumps for second day against dollar The monetary unit of Canada marked a second consecutive trading session of losses against the world Industry News 1486 Media Coverage 305 News Releases 24 Past Events 28 Recent Posts Aussie hovers as U S leaders struggle with negotiations Loonie benefits from better than expected Canadian U S data Euro rises after stronger than expected U S data released Yen notches top gain in six weeks Peso dips as Obama Boehner encounter snag Pound climbs against dollar after policy makers overwhelmingly supported end of intervention Tag cloud AUD Australia CAN Canada CHF China CNY EUR Foreign Exchange news FX Risk Management news GBP Germany Greece International Payments news Ireland Italy Japan JPY MXN New Zealand Portugal

    Original URL path: http://business.westernunion.sg/resource-centre/articles/post/Loonie-slumps-three-straight-days.aspx (2012-12-22)
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  • Western Union Business Solutions - Debt concerns leap to the fore again, battering Europe
    the weakest of the struggling EU economies but its fall would trigger further anxiety about Ireland Portugal Italy and Spain Further stress came as Spain s right wing Popular Party thoroughly trounced the ruling Socialists leveraging voter rage at the Iberian nation s struggling economy and rampant unemployment of more than 21 percent With a 66 percent turnout the Socialists lost every regional and municipal election There is a 2 2 million difference in the number of votes between the two top parties Ferran Requejo a political science professor in Pompeu Fabra University of Barcelona told the Christian Science Monitor That wasn t expected That distance is significant and this could mean the Popular Party could win an absolute majority in the next general elections The Socialist government under prime minister Jose Luis Rodriguez Zapatero has pushed through harsh and unpopular austerity measures to fill the budget hole caused by a massive speculative bubble in real estate Spain s situation is similar to the United States or Britain s without the added cushion of a free floating currency Membership in the common currency union helped bolster the purchasing power of Spaniards and other citizens of the E U s poorer nations during good years but it s now preventing them from dropping their own currency to compensate for economic shocks The troubles in Spain also reverberated in Germany where the Christian Democratic party of chancellor Angela Merkel finished a dismal third in the state of Bremen s election We are at the end of the road for risk John Taylor the chairman of FX Concepts LLC the largest currency based hedge fund in the world told Bloomberg earlier this month in a telephone interview This is the end of the nice slow moving risk rally that has lulled us pleasantly to sleep since the first half of 2009 Overall the dollar may gain from these latest developments though it has its own troubles Efforts to raise the U S government debt ceiling remain stalled on Capitol Hill as recalcitrant Republicans demand cuts to social programs and try to use their leverage to force socially conservative legislation on embattled Democrats Organizations like the Corporation for Public Broadcasting and Planned Parenthood have become bargaining chips in a political struggle that bridges social and economic debates and it s now clear which party will fold first The atmosphere remains volatile Companies and organizations which do business across international boundaries and forex markets should strongly consider foreign exchange risk management solutions to hedge their currency risk exposure Category Industry News Share Foreign Exchange Services for Business With a focus on payment services Western Union Business Solutions enables businesses of all sizes to send funds internationally through our global payment solutions See our available FX payment services Related posts Rupee slides as European debt crisis looms India s currency depreciated for a second day as worries related to the European debt crisis drove i Euro rises before debt summit The euro gained against the dollar

    Original URL path: http://business.westernunion.sg/resource-centre/articles/post/Debt-concerns-leap-to-the-fore-again-battering-Europe.aspx (2012-12-22)
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  • Western Union Business Solutions - A year later, Greek economy still troubles Europe
    rest of the EU At the same time it pushed through new and harsh austerity measures to curb the surging public debt Since then the debt crisis has torn through the economies of Ireland and Portugal and still threatens to destabilize more critical countries like Italy and Spain Yet the bailout has failed to dramatically improve the situation of the beleaguered Greeks who still must face high borrowing costs rampant unemployment and ineffective government EU finance ministers meet today in Brussels to discuss how to move forward a year after the original bailout The biggest fight is between Germany and the European Central Bank ECB writes The Economist Germany s politicians do not want to lend Greece more money without a game change in the rescue plan That could include bold new concessions from the Greeks such as pledging privatisation proceeds as collateral for new rescue funds Or it could imply a debt restructuring One effect of the continued European troubles on the foreign exchange markets has been a boost for haven currencies like the Swiss franc That country s currency tends to rise when other major stores of value like the euro and the dollar decline You could argue that the Swiss franc is going up because there s greater concern about the euro periphery Daragh Maher the deputy head of global foreign exchange strategy at Credit Agricole in London told Bloomberg News There doesn t seem to be much conviction to euro buying People are still very nervous However the euro rose against the dollar on speculation that the EU would continue to support its weakest members Category Industry News Share Foreign Exchange Services for Business With a focus on payment services Western Union Business Solutions enables businesses of all sizes to send funds internationally through our global payment solutions See our available FX payment services Related posts Euro rises in one week high however pessimism for new year still looms Although 2011 did not prove to be a very encouraging year for the eurozone the euro actually rose t European bank auctions off bills euro at 10 year low against yen The European Central Bank lent a record setting amount of money to regional banks today in order to Euro remains pressured by Spanish Greek troubles The shared currency of the European Union mildly climbed from its lowest value in 16 weeks against t Industry News 1486 Media Coverage 305 News Releases 24 Past Events 28 Recent Posts Aussie hovers as U S leaders struggle with negotiations Loonie benefits from better than expected Canadian U S data Euro rises after stronger than expected U S data released Yen notches top gain in six weeks Peso dips as Obama Boehner encounter snag Pound climbs against dollar after policy makers overwhelmingly supported end of intervention Tag cloud AUD Australia CAN Canada CHF China CNY EUR Foreign Exchange news FX Risk Management news GBP Germany Greece International Payments news Ireland Italy Japan JPY MXN New Zealand Portugal Spain United Kingdom

    Original URL path: http://business.westernunion.sg/resource-centre/articles/post/A-year-later-Greek-economy-still-troubles-Europe.aspx (2012-12-22)
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  • Western Union Business Solutions - Swiss currency up on American dollar amid world markets' uncertainty and possible rate hike
    observed The SNB s vice president noted to Finanz und Wirtschaft in March that the present interest rate level was very loose As a result of international financial turmoil and the favorable conditions in Switzerland the franc had a positive run against the U S dollar with the greenback reaching a new low vis à vis the Swiss monetary unit reported Dow Jones Bloomberg stated that the franc was about the same against the euro and that it was up on nearly all of its counterparts in a currency index Category Industry News Share Foreign Exchange Services for Business With a focus on payment services Western Union Business Solutions enables businesses of all sizes to send funds internationally through our global payment solutions See our available FX payment services Related posts Rate hike pushes Aussie dollar to highest in over 25 years The Australian dollar surged after the Reserve Bank of Australia unexpectedly lifted its main cash r Loonie advances amid speculation about interest rate hike The monetary unit of Canada gained against its southerly rival on Thursday amid anticipations of an NZ Dollar Up Late as Market Moves Forward Forecasts for Next Rate Hike Wall Street Journal The New Zealand dollar traded higher recently on the back of expectations that Industry News 1486 Media Coverage 305 News Releases 24 Past Events 28 Recent Posts Aussie hovers as U S leaders struggle with negotiations Loonie benefits from better than expected Canadian U S data Euro rises after stronger than expected U S data released Yen notches top gain in six weeks Peso dips as Obama Boehner encounter snag Pound climbs against dollar after policy makers overwhelmingly supported end of intervention Tag cloud AUD Australia CAN Canada CHF China CNY EUR Foreign Exchange news FX Risk Management news GBP Germany Greece

    Original URL path: http://business.westernunion.sg/resource-centre/articles/post/Swiss-currency-up-on-American-dollar-amid-world-markets-uncertainty-and-possible-rate-hike.aspx (2012-12-22)
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  • Western Union Business Solutions - The future of the yen
    yen The Bank of Japan sold yen for the first time since it intervened last September and European central bankers did the same in their own nations markets It will be supportive for the economy if they can manage to stabilize the yen Thomas Harr head of Asian foreign exchange strategy at Standard Chartered in Singapore told Bloomberg News You will have better chance of succeeding when you have the joint intervention rather than just Bank of Japan The intervention by the world s central bankers appears to have been effective as the yen dropped sharply against the dollar euro and other major currencies on Friday Most estimates put the scale of the Japanese central bank s yen sales at 2 trillion yen sold against the dollar If the bank keeps up any kind of selling it will soon eclipse the 2 1 trillion yen it sold in September in its own quantitative easing effort The long term picture for Japan is complicated by the fact that it has the highest debt to gross domestic product ratio in the developed world with the country s obligations valued at 225 percent of its GDP That s twice as bad as Greece which has been brought to its knees by its own debt crises A few things make Japan s situation different from Greece s or Ireland s First much of its debt is owed domestically enormous holdings by the nation s government pension plans underpin much of this borrowing Of course Japan also controls its own currency and therefore can devalue it more or less at will while Greece Spain Ireland and the rest are tied to the euro Michael Lewis the author of the seminal Liar s Poker and The Big Short writes in BusinessWeek that Japan s fiscal crisis may soon worsen The Dallas based hedge fund Hayman Advisors which has been betting that Japan will eventually need to default or restructure has estimated that a mere three percentage point rise in interest rates would leave the government using all of its tax revenue simply to service its debt writes Lewis Even before the earthquake Japan to balance its books was probably going to need to sell a lot of government bonds to foreigners And those foreigners probably were going to demand a far higher rate of interest than Japanese government pension plans do to hold them That rate of interest just went up Businesses trading with Japan will have to be extraordinarily mindful of their currency hedging and forex protection moving forwards Category Industry News Share Foreign Exchange Services for Business With a focus on payment services Western Union Business Solutions enables businesses of all sizes to send funds internationally through our global payment solutions See our available FX payment services Related posts New Japanese leader sets sights on controlling yen Officials in Japan are attempting to minimize damage caused by the ever vital yen onto the nation s Yen s strength Japanese carmakers production are intertwined In

    Original URL path: http://business.westernunion.sg/resource-centre/articles/post/The-future-of-the-yen.aspx (2012-12-22)
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  • Western Union Business Solutions - Japan situation boosts volatility, sparks investor anxiety
    Richard Kelly told Dow Jones Newswires The turnaround in opinion about Australia s monetary policy comes despite the fact that economic spillover effects should be fairly limited he said Still investors are flocking to havens like Switzerland s franc The currency rose to an all time high against the dollar 91 64 centimes on March 15 And with uncertainty the name of the game in today s market firms with currency exposure may need to gird themselves for further volatility Category Industry News Share Foreign Exchange Services for Business With a focus on payment services Western Union Business Solutions enables businesses of all sizes to send funds internationally through our global payment solutions See our available FX payment services Related posts Yen drops amid report stating Japanese investors looked to international stocks Thursday saw the monetary unit of Japan lose value to the U S dollar and end two days worth of adva Japanese yen endures global consequences of its strength The strength of the monetary unit for the globe s third largest economy is so formidable that two of Japan eyes markets as additional intervention nears Additional intervention to water down the strength of Japan s monetary unit is likely this week Industry News 1486 Media Coverage 305 News Releases 24 Past Events 28 Recent Posts Aussie hovers as U S leaders struggle with negotiations Loonie benefits from better than expected Canadian U S data Euro rises after stronger than expected U S data released Yen notches top gain in six weeks Peso dips as Obama Boehner encounter snag Pound climbs against dollar after policy makers overwhelmingly supported end of intervention Tag cloud AUD Australia CAN Canada CHF China CNY EUR Foreign Exchange news FX Risk Management news GBP Germany Greece International Payments news Ireland Italy Japan JPY MXN

    Original URL path: http://business.westernunion.sg/resource-centre/articles/post/Japan-situation-boosts-volatility-sparks-investor-anxiety.aspx (2012-12-22)
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  • Western Union Business Solutions - Swiss life insurer sees drop in foreign income
    just individual companies that are concerned about the franc s recent gains Rather Switzerland s chief economist says the nation s entire economy is imperiled by the currency s appreciation The main risks to growth going forward remain the franc s strength and the performance of the global economy the official Aymo Brunetti said recently to Dow Jones Clearly currency fluctuations can have adverse effects so companies must keep abreast of their currency risk exposure Category Industry News Share Foreign Exchange Services for Business With a focus on payment services Western Union Business Solutions enables businesses of all sizes to send funds internationally through our global payment solutions See our available FX payment services Related posts Strong Swiss franc batters Swiss National Bank holdings The Swiss National Bank has taken a major hit to its finances as it strives to keep down the price o Swiss franc drops in value as central bank presents option Switzerland s currency lost value Thursday in response to the vice president of the central bank not Strength of Swiss franc drops as bank intervenes Efforts to reduce the strength of the Swiss franc pulled down the monetary unit Thursday Industry News 1486 Media Coverage 305 News Releases 24 Past Events 28 Recent Posts Aussie hovers as U S leaders struggle with negotiations Loonie benefits from better than expected Canadian U S data Euro rises after stronger than expected U S data released Yen notches top gain in six weeks Peso dips as Obama Boehner encounter snag Pound climbs against dollar after policy makers overwhelmingly supported end of intervention Tag cloud AUD Australia CAN Canada CHF China CNY EUR Foreign Exchange news FX Risk Management news GBP Germany Greece International Payments news Ireland Italy Japan JPY MXN New Zealand Portugal Spain United Kingdom United States

    Original URL path: http://business.westernunion.sg/resource-centre/articles/post/Swiss-life-insurer-sees-drop-in-foreign-income.aspx (2012-12-22)
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  • Western Union Business Solutions - Yuan climbs against dollar
    Central Economic Work Conference don t suggest China s new leaders are planning to change their views on the currency s value Bloomberg reports the yuan bounced back from its sharpest weekly losses in about five months after the government pulled back standards and rules for international investment Thus far this year the monetary unit s gains against the world s reserve currency have amounted to roughly 1 percent Bloomberg reports Category Industry News Share Foreign Exchange Services for Business With a focus on payment services Western Union Business Solutions enables businesses of all sizes to send funds internationally through our global payment solutions See our available FX payment services Related posts Euro climbs against dollar as pound Australian dollar slip Europe s shared currency recovered against the U S dollar Friday morning as the euro regained some Yuan slips against dollar as pact with Japan set to start The value of the monetary unit of China dropped against the world s reserve currency on Tuesday pus Yuan slips against dollar as PBOC establishes parity rate The value of the monetary unit of China dropped against the U S dollar on Tuesday after the Asian n Industry News 1486 Media Coverage 305 News Releases 24 Past Events 28 Recent Posts Aussie hovers as U S leaders struggle with negotiations Loonie benefits from better than expected Canadian U S data Euro rises after stronger than expected U S data released Yen notches top gain in six weeks Peso dips as Obama Boehner encounter snag Pound climbs against dollar after policy makers overwhelmingly supported end of intervention Tag cloud AUD Australia CAN Canada CHF China CNY EUR Foreign Exchange news FX Risk Management news GBP Germany Greece International Payments news Ireland Italy Japan JPY MXN New Zealand Portugal Spain United Kingdom United

    Original URL path: http://business.westernunion.sg/resource-centre/articles/post/Yuan-climbs-against-dollar.aspx (2012-12-22)
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