| Forex - Yen stays in focus, rising gently ahead of G7 meeting
LONDON (AFX) - The yen stayed firmly in focus, recording gentle gains ahead the weekend's pow-wow of the world's biggest economies in Germany. The turnaround in the Japanese unit's fortunes comes after a chorus of complaints, mainly from Europe, about the yen's rapid decline since the start of the year. The Bank of Japan's refusal to hike interest rates is at the centre of the accusations but many also believe the central bank is right to err on the side of caution. Additionally, recent Japanese data suggest that the domestic side of the economy remains anaemic. The yen's latest gains are unlikely to prevent its general weakness being discussed at the G7 meeting in Essen over the weekend, however. Previous meetings have not gone beyond calling for greater currency market flexibility, and most comments had been directed at the Chinese yuan.
How To Maximize Profits - Learn Professional Forex, Momentum, ETF ...
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Milton Friedman @ Rest
In July last year, the late Milton Friedman, Nobel laureate in economics in 1976, granted an interview to The Wall Street Journal. Today we publish material from a question-and-answer exchange he had by email -- shortly after their meeting -- with his interviewer, Tunku Varadarajan, the Journal's editorial features editor. * * * Should China float the yuan? Milton Friedman: Yes. Pegging the Chinese currency to the U.S. dollar requires that China follow a policy which over time yields an inflation rate that is compatible with, though not necessarily equal to, the U.S. inflation rate. When that is not the case, maintaining the peg will require control over foreign exchange transactions both current and capital. But China's future depends on their eliminating such exchange controls, on their opening the market as much as they can and as having essentially a free price system.
US bonds, dollar gain after jobs data, gold falls
NEW YORK (Reuters) - U.S. Treasury bond prices rose on Friday after government data showed moderate job creation, suggesting the Federal Reserve will keep interest rates steady for some time. The dollar gained as investors focused on upward revisions in the jobs numbers for previous months, while U.S. stocks ended mixed. The Labor Department's nonfarm payrolls report showed that the U.S. economy created 111,000 new jobs in January -- below forecasts for 149,000. But the government also revised upward estimates of job growth in previous month. Overall, the report was in line with a view that the U.S. economy is strong enough to warrant holding the benchmark fed funds rate at 5.25 percent for some months to come. "The headline (jobs number) was lower than expected, but it's all about the revisions as usual.
Japan is the economic superpower and its weak currency says ...
If any currency should be strong, it is Yen. But Yen is the weakest. Large trade surplus, innovation, huge number of patents, solid balance of payments and huge trade surplus with most major countries should make the Yen strong. But it is one of the weakest currencies. By all measures Japan is the economic superpower. In eighties it did take away that prized prestige from America. The economic superpower of the world and its currency is telling the world since 1988 that the economic situation in the world is not right. The depressed Yen represents depressed and deflated worldwide economies. If artificial credit driven liquidity is taken out, the financial infrastructure will collapse. Japan faced that problem since 1988. The huge debt caused the deflation in Japan. The same thing will cause deflation and depression in the rest of the world.
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