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latest news CURRENCIESDollar pares its Fed-cut losses vs. rivalsGreenback
could be on track to be carry-trade funding currency By William L.
Watts full color custom playing cards Lisa Twaronite, MarketWatchLast update: 5:16 p.m. EST Jan. 30,
2008PrintPrint EmailE-mail Subscribe to RSSRSS DisableDisable Live
Quotes SAN cards playing custom (MarketWatch) -- The dollar weakened against homeowners insurance major counterparts Wednesday, after the U.S. Federal cheap house insurance decided
to cut interest rates by a half-point and signaled that more cuts
could lie ahead, but pared some of its losses late in the session. car insurance central bank lowered the federal funds rate by a half of one
percentage point to 3.0%, as most investors expected. The Fed also
announced that it was printed playing cards its discount rate, the interest it
charges on direct loans it makes to banks, by a half-point to streetwear fashion Read The Fed. "The widely expect 50 basis point cut by the Fed today
was expected and as expected the dollar index got clobbered," said
Adam Hewison, president of INO.com, a technical-analysis site. The
dollar index, which tracks the performance of many insure quote greenback against
six other major currencies, was at 75.499 late Wednesday. The index
earlier fell as low as 74.594, compared with 75.423 shortly before the
Fed announcement. It was at 75.555 in late U.S. trading Tuesday. The
euro was at $1.4859. It earlier rose as high as $1.4905, compared with
$1.4801 shortly before the rate cuts. It was at $1.4773 late Tuesday.
See real-time currency poker size playing cards Chart of chinese teacher chicago The dollar's losses
against the Japanese yen were mitigated by a rally on Wall Street
following the Fed news, which whetted investors' risk appetite. The
yen typically rises in line with risk aversion because the yen is a
popular carry-trade currency. In so-called carry trades, investors
borrow funds in lower-yielding currencies and sell the loans to
convert them to invest in higher-yielding currencies. While some
simply invest in the currency itself, others invest in other assets
denominated in those currencies, and sometimes leverage their bets
many times over. The dollar bought 106.21 yen, down from 107.18 yen
earlier and 107.01 yen late Tuesday. Stocks initially rallied after
the Fed's announcement but couldn't whole life insurance the gains, and finished
lower. See Market Snapshot. Cash and carry? The Fed's move "has pushed
the U.S. dollar emo clothing against every major currency as it quickly
becomes a carry-trade funding currency" itself, said Kathy Lien, chief
strategist at Forex Capital Markets. Five months ago, U.S. rates were
independent fashion fourth-highest in the developed world and now they are the
third-lowest, she said, meaning the dollar house insurance "yielding only 25 basis
points more than Switzerland which means that once the Fed lowers
rates again in March, and we expect them to, the U.S. dollar will be
tied with the [Swiss] franc as second-lowest yielding currency in the
developed world," above only Japan's rock-bottom 0.5%. indie fashion in order
for the dollar to retain its appeal for such trades, the interest rate
differentials emo clothes have to remain -- and that might not happen, if
the global impact of the U.S. slowdown spreads and other central banks
follow the Fed down an easing path. In 2001, the Fed cut its target
rate to 1% to jump-start the recessionary U.S. economy. But the
dollar-funded carry trade didn't catch on in a major way. Most
investors had expected the central bank to cut its benchmark interest
rate by 50 basis points. Markets factored in the half-point cut ahead
of the announcement, analysts said, but a reduction of a quarter of a
percentage point couldn't be ruled out. Although the cut was in line
with expectations, what pressured the dollar most was Fed surfboard shape playing cards that implied more rate cuts could be coming. The central bank also
warned that "downside risks to growth remain, promotional playing cards the door is
open" to further easing, said Marc Chandler, currency analyst at Brown
Brothers Harriman. Lower rates typically weigh cheap insurance a currency because
they erode the returns on assets denominated in it, but sometimes they
support currencies to the extent that they bolster economic-growth
prospects. Mixed U.S. data ahead of Fed Related MarketWatch news
* Fed moves aggressively to combat slowdown
* Bernanke asserts himself, is seen likely to make the rate call
* Treasury to offer $22 billion in notes and bonds next week
Related Blog Posts & Articles Next Page »1 | 2 More Currencies stories
4:04 PM 1/29/08
Dollar mixed in narrow range on eve of Fed interest-rate decision - by
William L. Watts
2:31 PM 1/28/08
U.S. dollar declines against major rivals - by Lisa Twaronite
4:27 PM 1/25/08
Dollar holds onto gains even as gloom reappears on Wall Street - by
Lisa Twaronite
4:09 PM 1/24/08
Dollar shrugs poker cards gains on Wall Street and dips vs. most rivals - by
Lisa Twaronite
5:01 PM 1/23/08
Dollar loses grip on euro gains as stocks reverse and rally - by Lisa
Twaronite
More News Top stories
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Senate lawmakers pass $161 billion stimulus bill
7:06 PM 1/30/08
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9:51 PM 1/30/08
Fed moves aggressively to combat slowdown
6:32 PM 1/30/08
Field of presidential contenders narrows after Florida race
4:46 PM 1/30/08
Mortgage rates could rise, not fall, after Fed move
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Dollar pares Fed-triggered losses against major rivals - MarketWatch
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