Posts Tagged ‘Hot Money’
Forex News – Korean Won Rebounds Impressively
Friday, August 14th, 2009What was the weakest currency on last year? The Korean Won was one of the world’s weakest currencies- and that’s saying a lot while you look at how many currencies tanked at the onrush of the credit crisis. The Won lost almost half of its value, driven by fears that Korean creditors would be not able to pay their foreign debts. Since March, nevertheless, the currency has rebounded by an impressive 25%, as the government took action: “To avoid a crisis, South Korea forged a dollar-swap agreement with the U.S., Pumped up money into the banking system, boosted fiscal spending, set up funds to replenish bank capital and cut rates.” (more…)
Canadian Dollar Volatility Could Spur Intervention
Tuesday, August 4th, 2009Since last covered the Canadian Dollar – on July 29 – the Canadian Dollar appreciated another 2% against the US Dollar, reinforcing the perception that the currency is both too volatile and appreciating too rapidly. This concern is harbored by the Central Bank officials and policymakers, which fear that the rising currency represents the proverbial wrench in the Canadian economic recovery. (more…)
