funding pressures eased marginally

Posted on July 1st, 2009 in Currency Rate, Market Review, Money Market | Comments Off

The cost of borrowing longer-term U.S. dollars in the London interbank market fell Friday as term funding pressures eased marginally.

Data from the British Bankers’ Association showed three-month dollar Libor,
seen as a key gauge of the effectiveness of the Federal Reserve’s monetary
policy, moved down to 0.50188% from Thursday’s 0.50375%, matching Wednesday’s record low.

Read the rest of this entry »

Moderate selling of U.S. dollars by banks

Posted on May 24th, 2009 in Currency Rate, Money Market | Comments Off

Moderate selling of U.S. dollars by banks near the session’s end provided support for China’s yuan, which ended unchanged against the U.S. unit Friday despite a higher dollar-yuan central parity.

On the over-the-counter market, the dollar ended at CNY6.8310 around 0930 GMT, unchanged from Thursday’s close. It traded between CNY6.8310 and CNY6.8320. Read the rest of this entry »