US dollar
NY Fed paper examines threat to international role of dollar
New York Federal Reserve study says decline in the international role of the dollar should not be a concern if US maintains strong economic growth
Central banks shy away from euro reserves
New data from the IMF’s currency reserves database suggests reserves accumulation has slowed during 2011 and the appetite to hold euro reserves has also waned, particularly in emerging markets
Euro climbs as major central banks boost dollar liquidity
Bank of England, Bank of Japan, European Central Bank and Swiss National Bank to offer three-month loans to market; euro moves higher against the dollar but nearly breaks Swiss franc floor
Japan moves to halt yen gains with new facility
Japan’s finance minister Yoshihiko Noda reveals plans to set up $100 billion facility that will encourage companies to exchange yen for foreign currency assets
Options traders braced for further SNB intervention
Demand has switched from downside EUR/CHF options to upside options in anticipation of further Swiss franc weakening measures from SNB, say senior options traders
Towards a global monetary policy
US monetary policy must change as the dollar’s dominance wanes, writes Allan H. Meltzer
European markets plummet as bank taps ECB dollar swap line
European Central Bank extends $500 million loan to unknown bank as equity markets move lower on concerns over health of banking sector
Soft-dollar pegs not optimal in Sub-Saharan Africa: IMF paper
Fund study says soft peg to dollar increases macroeconomic instability in Sub-Sahara African countries
Exchange rates are influenced by macroeconomic performance: Buba paper
Bundesbank study finds link between macroeconomic fundamentals and exchange rate movements through expectation of monetary policy
Three strikes and you’re out
Standard and Poor’s downgrade of US debt is just one of a handful of errors made by credit rating agencies, writes Robert Aliber
Dollar falls on S&P downgrade
Standard and Poor’s makes unprecedented move by becoming the first ratings agency to downgrade the US credit rating; gold hits record high as dollar falls
SNB devaluation attempt flounders as Swiss franc rebounds
Swiss franc claws back earlier losses after central bank intervenes to curb rise in currency
Swiss franc declines as SNB eases policy rate
Swiss National Bank moves to stem strengthening of the Swiss franc by easing monetary policy; franc falls 1.97% against the euro following decision
Towards a global monetary policy
US monetary policy must change as the dollar’s dominance wanes, writes Allan H. Meltzer.
Fed extends temporary dollar swap lines again
Canada, UK, Switzerland and ECB prolong arrangements; Japan to decide soon
Kenya addresses currency concerns
Central Bank of Kenya to expand number of commercial banks with access to foreign currency window in bid to end speculative trading
US dollar leading currency peg: ECB paper
European Central Bank study shows US dollar continues to dominate as most used exchange rate currency anchor
Zero-policy rates 'ill-serve' emerging markets: BIS's Caruana
Bank for International Settlements general manager Jaime Caruana says near-zero interest rates are a disservice to emerging market economy borrowers
Sweden’s Nyberg calls for reform to dollar funding
Riksbank deputy governor Lars Nyberg raises awareness on overdependence of banks on central bank reserves for foreign currency
China and US could 'step up' cooperation
Zhou Xiaochuan believes increased cooperation between China and the US on financial reform and regulation is possible
ADB discusses stability, inflation and the dollar at AGM
Annual general meeting of the Asian Development Bank touches on core issues for the region; stability, inflation and reforming the international monetary system
Brics demand "broad-based" international reserve currency system
Leaders of the five fast-growing emerging economies support reform and improvement of international monetary system; want a stable, reliable and broad-based international reserve currency system
Reserve Bank of Fiji reports $11.8m profit
Rise in value of foreign exchange reserves spurs $11.8m profit at Reserve Bank of Fiji in 2010; all profits transferred to capital Suva
Beijing official renews call to move away from “dollar trap"
Report by think-tank economist claims the international monetary system lacks stability and fairness as a result of dollar dominance