US dollar
Trichet says euro's record rise 'not welcome'
Economic growth "remains very steady," European Central Bank President Jean-Claude Trichet said at a briefing after a meeting in Basel, Switzerland, of the G-10 group, which he chairs. "Perhaps we're going to a level that's more sustainable in the medium…
Interview: Ronald McKinnon
Much of the world is on a de facto dollar standard. Ronald McKinnon of Stanford University explains how it works and why policymakers need to understand it better.
Asian central banks see increasing role for euro
This article looks at the growing trend of Asian central banks shifting part of their assets into euros, though the US$ remains the major reserve currency, it says.
Berlusconi calls for ECB rate cut
Italian Prime Minister Silvio Berlusconi has called on the ECB to cut its interest rates, believing the euro to be over-valued against the dollar and complaining that it is hindering Italian exports by making them less competitive.
BOJ reports loss for first time in 32 years
The Bank of Japan reported a current loss of 22.2 billion yen ($200 million) for the year ended March 31, as the yen's 13-percent gain against the dollar caused losses on foreign currency-denominated assets and bond prices fell.
No big short-term dollar shift says ECB's Wellink
The dollar is unlikely to show any big swings on the foreign exchange market soon as rapid growth allows the U.S. to finance its current account gap, European Central Bank Governing Council member Nout Wellink said in an interview on Thursday 27 May.
Fed's Olson on the redesigned 2004 US $50 note
In a speech on 'Preview of the Redesigned Series 2004 U.S. $50 Note' given on 26 April, Mark Olson of the Federal Reserve said this $50 note is beautifully designed and includes important anti-counterfeiting features.
Snow tells PBOC governor to scrap peg
U.S. Treasury Secretary John Snow told People's Bank of China Governor Zhou Xiaochuan on Friday 26 March that China needs to scrap its dollar-pegged foreign exchange system and float the yuan.
RBNZ's Orr on exchange rate intervention proposal
In a speech on the Reserve Bank of New Zealand's exchange rate intervention proposal given on 25 March, Adrian Orr of the RBNZ said that what the RBNZ is recommending is intervening when the moment is justified and opportune, with the outcome of trimming…
Canada's Duguay on monetary policy, global economy
In a speech on 'National monetary policy in a global economy' given on 22 March, Pierre Duguay of the Bank of Canada discusses the positive contribution of the bank's inflation-control strategy to the Canadian economy and highlights the importance of…
Brash unimpressed with RBNZ's plans
Former RBNZ chief Don Brash said this week that while the high value of the New Zealand dollar was hurting the economy, any attempt to intervene would be fraught with risk.
BOJ 'exit strategy' from yen sales - report
The Bank of Japan is considering an 'exit strategy' from its practice of selling yen and buying dollars, the Nihon Keizai newspaper said in the BOJ Watch column of its Tuesday, March 16 edition.
PBOC says no plan to revalue yuan soon
Deputy governor Li Ruogu of the People's Bank of China said on Sunday 7 March that China does not plan to revalue the yuan in the near future and that the dollar pegged currency is valued correctly.
Schroeder calls for better dollar/euro balance
Speaking on Friday 5 March, German Chancellor Gerhard Schroeder said he would be happy if the dollar and euro "come into a reasonable balance".
China's Premier suggests end to yuan's dollar peg
China's Premier Wen Jiabao has said that the country is working toward a more flexible exchange rate mechanism for the value of the yuan, the first clear statement that the government aims to end the currency's nine-year fixed link to the dollar.
Bernanke on euro at five: Ready for a global role?
In a speech on 'Euro at Five: Ready for a Global Role?' given on 26 February, Ben Bernanke of the Federal Reserve said that the euro so far has "posed less of a challenge" to the international dominance of the U.S. dollar than analysts expected when the…
America's dangerous deficit
We distribute this article from the International Herald Tribune, with permission, as it is among the first that we have seen in the mainstream media publicly speculating about the possibility of the US effectively restricting access of central banks to…
Schroeder urges ECB consider rate cut
German Chancellor Gerhard Schroeder said on Wednesday 25 February that the European Central Bank should "most intensively" consider cutting interest rates to halt the euro's appreciation against the dollar.
A case for removing the ringgit peg in Malaysia
This article looks at Malaysia's ringgit peg, saying that the US dollar's fall has posed questions over its viability. It argues for an immediate restoration of the free float regime, which applied before the local currency was fixed to the US dollar in…
Russian for ex intervention hits record $3bn
The central bank of Russia spent a record $3 billion on Tuesday 10 february to hold down the ruble. The intervention represented the biggest foreign-exchange intervention in Russia's history.
PBC rejects renminbi revaluation talk
An official at the People's Bank of China has refuted speculation in local media that it may be planning to revalue the renminbi this coming March, allowing China's currency to rise by 5% against the U.S. dollar.
Nyberg on developments in the Swedish economy
Sveriges Riksbank Deputy Governor Lars Nyberg spoke to the Swedish Shareholders' Association last week. Nyberg said that although the dollar has weakened due to developments in the US trade and budget deficits it was generally considered to be have been…
OECD: China unlikely to move to float currency
According to an OECD economist, China is unlikely to move soon to float its currency despite foreign pressure, but needs to reform its domestic financial system to gain greater flexibility in the exchange rate.
Rapid yen moves will be acted on - Tanigaki
Japanese Finance Minister Sadakazu Tanigaki said at the weekend that Japan will keep acting against rapid and speculative moves in foreign exchange markets.