According to the research paper, released by United Overseas Bank Ltd., the yuan has a strong chance to appreciate further this year to the total of 11 percent gain against the U.S. dollar in 2008.
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British Pound Grows on April PPI Report
The Great Britain pound rose today against the U.S. dollar and the euro, partially recovering its losses from the last week, as the record high PPI growth added confidence that the Bank of England will not lower interest rates next time.
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Korean Won at Lowest since 2005
The South Korean won declined to its lowest level since November 2005, as the country’s central bank said that the weaker currency will be helping against the economic stagnation.
Dollar Rose on Hoenig’s Hawkish Comments
The U.S. dollar rose today during the late Asian Forex trading session, as the traders reacted on the hawkish commentary by the Federal Reserve Bank of Kansas City President Thomas Hoenig.
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AUD Stops Growth after RBA StatementThe Australian dollar stopped growing on the Forex market today after the Reserve Bank of Australia mentioned economical growth moderation in its monetary policy statement.
Bank of America Confident on INR Growth
The Indian rupee is going to grow in the coming months as the central bank will probably rise the interest rate and will allow currency’s appreciation according to Bank of America strategist.
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