| A bear growls at yen
TOKYO: The yen will slump 5 percent this quarter, the worst start to a fiscal year since 1989, as Japanese invest more of their savings overseas, said Toru Umemoto, chief foreign-exchange strategist at Barclays Capital. Individuals are disheartened by returns on offer in Japan as the central bank's benchmark interest rate of 0.5 percent is unlikely to rise until the third quarter, said Umemoto. The currency will drop to 125 against the dollar, he said, the weakest since December 2002. The yen was lower against all 16 of the world's most actively traded currencies over the past month, with the biggest losses versus higher-yielding currencies such as the Australian and New Zealand dollars. Borrowing costs in both countries are 5.75 percentage points and 7 percentage points higher than those in Japan, respectively.
Baylor Women’s Tennis Hosts Pepperdine in Weekend Match
WACO, Texas - Baylors No. 20 womens tennis team will host No. 19 Pepperdine Sat., April 7 at noon at the Baylor Tennis Center for the teams second meeting this season. Baylor previously defeated Pepperdine 6-1 in Malibu, Calif., March 14. Baylor will also be recognizing the programs letterwinners throughout the weekend. The Bears prepare for the Easter weekend match after defeating No. 36 Texas 6-1 on Wednesday which improved BUs overall record to 14-6 and conference mark to 7-1. Baylor has won eight of its last nine matches, six of those victories coming against ranked teams. The Bears also boast a 32-match home win streak dating back to March 19, 2005, a 4-2 loss to Vanderbilt. Against Pepperdine Baylor leads the overall series 3-2 and head coach Joey Scrivano is 6-1 against the Waves.
Australian, NZ Dollars Advance on Rising Rates, Commodities
April 3 (Bloomberg) -- Australia's dollar rose to a 10-year high and New Zealand's to the strongest in almost two years on their interest-rate appeal and a rally in commodities. The New Zealand dollar is the biggest gainer of the 16 most traded currencies in the past 12 months, followed by Australia's. In that time, the Reserve Bank of Australia has raised rates three times to a six-year high of 6.25 percent and New Zealand's central bank once to a record 7.5 percent. ``Rates are really driving currencies, particularly the Australian and New Zealand dollars,'' said Jeff Gladstein, global head of foreign-exchange at AIG Financial Products Corp. in Wilton, Connecticut. ``You have a real trend in play here, so it's going to be hard to unseat that in the very near term.'' Australia's currency traded at 81.48 U.S.
Sebastian River Holding’s Inc. Announces Its First Foreign ...
"We are on our way to become large investors in foreign currency," stated Daniel Duffy, President/CEO of Sebastian River Holding's Inc. "Since Iraq has the largest natural gas reserve in the world and is the 2nd largest proven oil reserves in the world, with over 100,000,000,000 barrels of oil, the company feels that the Dinar reaching 1 Dinar per US dollar is feasible. If the rate goes 1 Dinar for 1 US Dollar, this would give Sebastian River Holding's Inc. a profit of well over $99,000,000 from this one investment." Sebastian River Holding's Inc. will soon announce other foreign currency investments and updates on the two acquisitions of Pelican Capital Mortgage Lending, Inc. and TCI Electronics, Inc. Forward-Looking Statement This Press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
How to solve a problem like the dollar
So Ben Bernanke has been called in by worried congressmen to explain US monetary policy. The wording of the statement accompanying the March Open Markets Committee meeting has been pored over in minute detail and time and again by financial market Kremlinologists seeking to get to the bottom of what Mr Bernanke's coterie really mean. We agree with the Financial Times leader article (27th March) which draws attention to the scope for confusion implicit within the absence of an official inflation target and where, as a nominal demand manager, senior Fed officials have constantly to walk the tightrope between concern over inflation and concern over growth and its impact on employment. But whilst we accept the statement's opacity we have a strong view as to which side Fed officials should be leaning.
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