Alan Ruskin, chief international strategist at Deutsche Bank AG, has warned that the Federal Reserve’s decision to inject US dollar liquidity into the monetary system is a clear negative for the currency. In a coordinated effort with five other central banks, the Fed announced the move on Sunday to ease.
The Swiss National Bank (SNB) sold 22.3 billion Swiss francs ($23.97 billion) worth of foreign currencies interventions last year, according to the central bank’s annual report published on Tuesday. This is a reversal from the previous year, in which the SNB bought 21.1 billion francs. The SNB has regularly confirmed.
UBS has agreed to buy Credit Suisse in a shotgun merger, a move engineered by Swiss authorities. The acquisition will cost UBS $3.23 billion and assume up to $5.4 billion in losses. The deal comes as Credit Suisse is facing multiple legal and financial problems, including its involvement in the.
The US dollar experienced a slight uptick in early European trade on Tuesday, but remained unable to move much higher than recent five-week lows as the Federal Reserve prepares to begin its latest policy-setting meeting. This follows a period of volatility that saw the dollar fall to its lowest point.
The EUR/JPY currency pair has extended its downtrend to fresh lows in the sub-139.00 zone, signaling further losses for the cross. The bearish trend, which started in early March 2023, has continued to be driven by a range of factors, including the ongoing COVID-19 pandemic and the strength of the.
The Bank of England (BoE) recently announced its expectations of a significant decrease in inflation rates, which are currently in double digits. However, this prediction is yet to be reflected in the economic data. As a result, economists at Commerzbank forecast potential struggles for the British Pound (GBP). Commerzbank expects.
On Monday, most Asian currencies experienced a decline while the US dollar saw a rise in value. The reason for this is the markets’ anticipation of the Federal Reserve’s meeting this week. As a result, market sentiment remains edgy despite the measures taken by governments to alleviate concerns. The current.
The U.S. dollar gained strength in early European trade on Monday as investors flocked to the safe-haven currency amidst ongoing concerns about the global banking crisis. In addition, anticipation of this week’s Federal Reserve policy-setting meeting added to the dollar’s appeal. At 04:10 ET (08:10 GMT), the Dollar Index, which.
Introduction BlackRock, the U.S. asset manager, has denied any plans to acquire Credit Suisse, the Swiss lender that has been facing financial troubles. In a statement on Saturday, BlackRock said it had no interest in acquiring Credit Suisse, contradicting earlier reports that had suggested the asset manager was considering the.
Introduction India’s forex reserves have hit a four-month low, according to the Reserve Bank of India’s (RBI) statistical supplement. The reserves fell $2.4 billion to $560 billion for the week ended March 10, their lowest level since early-December. This article discusses the reasons behind the decline and the implications it.
Commerzbank economists have issued a warning that the Canadian dollar is likely to struggle to hold its value against the US dollar in a risk-averse environment. The jitters felt across global financial markets have led to increased risk aversion, making it difficult for the Canadian dollar to maintain its position.
The dollar fell on Friday as shares of Credit Suisse and First Republic Bank (NYSE:FRC) declined further, causing market concerns over contagion and a looming recession due to the impact of tighter monetary policy. Investors have been closely monitoring the banking sector, which has been hit hard this week by.