| Euro hits 2-year high versus $
NEW YORK: The euro reached a two-year high against the dollar and approached a record versus the yen as signs of faster growth in Europe raised speculation the European Central Bank will increase interest rates. Gains in the euro accelerated after it rose above $1.34, triggering orders to buy back the currency, traders said. ECB officials said this week that higher borrowing costs are needed to contain inflation as reports showed strength in manufacturing. The Bank of England kept rates unchanged on Thursday. "The euro is aggressively bought," said Tim O'Sullivan, chief foreign exchange trader at Forex.com, a unit of online currency trading company Gain Capital in Bedminster, New Jersey, which has about $250 million funds under management. "The ECB has more room to go to hike rates." The euro advanced 0.47% to $1.3431 in morning trade in New York, the highest since March 2005.
Royal Forex Trading Announces Launch of New Dynamic Website ...
Leading online currency trading company, Royal Forex Trading, LLC is pleased to announce the re-launch of their website with many new features making online currency trading even easier for both new and existing clients. Boca Raton, FL (PRWeb) April 3, 2007 -- Royal Forex Trading, LLC (RFXT) provides an online trading platform for individuals and institutions that want to speculate on the exchange rate between two currencies. In doing so, traders buy and sell currencies with the hope of making a profit when the value of the currencies changes in their favor. RFXT is hoping to give new and existing clients an even better currency trading experience with a re-launch of their website. One of the most interesting additions to the new website is the ability for clients to download RFXT's new foreign exchange software program, called MetaTrader and Mobile Trader 4 (to be used with PDA, and other small screen mobile devices.) Clients can use the foreign exchange software for excellent, above and beyond regular standards in execution.
Zim to tighten up on foreign investment
Harare - The Zimbabwean government is considering new laws to restrict foreigners from owning wholesale or retail businesses in the country, reports said on Friday. The authorities also want to restrict foreign ownership of commercial and industrial land, New Ziana news agency reported. "We are going to propose a law restricting ownership of land for both commercial and industrial properties by foreigners in Zimbabwe," said Indigenisation and Empowerment Minister Paul Mangwana. The authorities are already working on laws that will mean blacks must be given a 51 per cent share in all sectors of the economy, including mining - a proposal that has sent shivers down the spines of international investors. A controversial land reform programme, launched in 2000, has stripped thousands of white farmers of their farms, mostly without compensation.
Preliminary 2006 Benfield Group Earnings Conference Call - Final
JOHN COLDMAN, CHAIRMAN OF THE BOARD, BENFIELD GROUP: Good morning. Welcome to the Benfield 2006 results meeting. For those who don't know me, I am John Coldman, Chairman of the Board. We have people on the line. As is usual, we will be taking questions I think probably at the end of the presentation and we will also take questions from people who are on the telephone lines. Could I ask you to turn your mobile phones off please. It does interfere with the electronics apparently. I have here with me Grahame Chilton, Benfield's Chief Executive Officer and John Whiter, Chief Financial Officer. I would like to pass over to Grahame now. Thank you. GRAHAME CHILTON, CEO, BENFIELD GROUP: Good morning, everybody and thank you for the good turnout and I believe there is quite a few people on the conference call, so thank you for taking the time to come and see us.
Australia Dollar Falls After Central Bank Keeps Rates Unchanged
April 4 (Bloomberg) -- The Australian dollar declined the most in a month after the central bank refrained from raising interest rates from a six-year high of 6.25 percent. Government bonds rose. The currency retreated from a decade-high reached yesterday fueled by traders raising bets the Reserve Bank of Australia would lift the cost of borrowing to a 10-year high. Australia's dollar declined as much as 0.9 percent as it triggered preset orders to prevent greater losses. ``The market was sitting on stops just above 81.10, so it's not surprising we've seen such a violent reaction,'' said Ray Attrill, director of foreign exchange research at Forecast Ltd. in Sydney. Australia's dollar dropped to 80.82 U.S. cents at 10:22 a.m. in Sydney after trading as low as 80.65, from 81.16 cents immediately before the announcement and 81.34 cents in Asia yesterday.
|
