Word: central
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...interest rates significantly above zero. During this time the Japanese yen was the currency traders loved. No longer, it seems. "The yen has become the least obvious carrying currency," says Credit Suisse's Desbarres, mainly because the near-zero interest rates Japan once exclusively offered are now available from central banks across the globe. Ironically, the yen today looks relatively strong compared to the dollar, making it more expensive to borrow and so riskier to carry. "Even though interest rates are low everywhere as global demand gradually picks up, we think the yen will strengthen," predicts Credit Suisse's Desbarres...
...news is that to ameliorate the worst side effects of the carry trade, which if unchecked could make Asian exports too expensive to buy, Asian central banks have intervened in foreign exchange markets and done something they are loath to do: Actually increase the dollars in their foreign reserves. "Asian central banks are accumulating even more dollars," says Credit Suisse's Desbarres. According to Citigroup, China's foreign reserves ($2.13 trillion as of June, including forward currency contracts) have increased 11.9% since the collapse of Lehman Brothers in September, 2008. Hong Kong's foreign reserves have shot up by nearly...
Some of the Crimson’s less experienced co-ed sailors made an even shorter trek over to Boston University to compete in the Central Series Three regatta on the Charles River...
...Nobody predicted the 7.3-magnitude earthquake that devastated central Taiwan's Chichi on Sept. 21, 1999, leaving some 2,400 people dead, more than 20,000 injured and causing economic losses topping $20 billion. Though thousands of tremors rattle Taiwan each year because of its volatile tectonic real estate, no one saw the earthquake coming. What could have been a big but less destructive quake became one of the worst disasters ever to hit the island...
Others in Drogheda believe that a more fully integrated E.U. can only help stem Ireland's economic malaise. The unemployment rate sits at over 11% - more than twice the figure at this time last year - and is expected to reach 15% by 2010. In addition, the country's Central Statistics Office said last week that more people are leaving Ireland than arriving for the first time in 14 years...