SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Welcome to Slider's Dugout
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: wildandwonderful10/20/2007 9:28:04 AM
  Read Replies (2) of 50756
 
Fed has shown it's card.Another interest rate coming soon. Oil is marching towards $ 100 and Gold is in for another rally.

Dollar Drop `Appropriate'

``It's appropriate we've had U.S. dollar depreciation,'' Bank of Canada Governor David Dodge said. ``The problem is it's really been Europe and Canada that have been the main focus.''

People's Bank of China Deputy Governor Wu Xiaoling told a conference in Washington that the currency is moving in the right direction and eventually other governments will be satisfied.

Focusing on China may have been the consequence of an inability among the G-7 to agree on action to stem the dollar's decline, which the French and Italian governments have blasted and Paulson has avoided criticizing.

Paulson repeated that while a ``strong dollar is in our nation's interest'' he wants exchange rates to be set in free markets. Europe's G-7 members are also divided with German Finance Minister Peer Steinbrueck telling reporters that the euro's value is ``nothing dramatic.''

The ``lack of consensus to talk up the dollar'' means it will extend its slide next week, said Robert Fullem, vice president of U.S. corporate currency sales at Bank of Tokyo- Mitsubishi UFJ Ltd. in New York.

Looking beyond their borders, the G-7 officials called on banks to be wary of risks associated with doing business with Iran and called for rules to guide investments by sovereign wealth funds.

To contact the reporters on this story: Simon Kennedy in Washington at skennedy4@bloomberg.net ; Rainer Buergin in Washington at rbuergin1@bloomberg.net .
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News