Not exact matches
«What sparked the rally is a perception of a
shift in Canadian government
policy toward the dollar,» said Michael Malpede, a
currency analyst in Chicago with Refco Inc., adding that Mr. Dodge's comments put an end to the widely held perception in the market that Canada supported a weak
currency to help its exporters.
Control of the short rate is possible because monetary
policy shifts the expected rate of
currency appreciation or depreciation.
Both the New York Times and the Financial Times, citing confidential sources, reported today that the Chinese government may announce a significant
shift in its
currency policy in the coming days, a move that could cause the Chinese yuan to rise in value against the dollar.
EM
currencies, meanwhile, have particularly suffered lately as U.S. monetary
policy shifts toward a less accommodative phase.
Amongst others, a monetary
policy that will stabilise the
currency and reduce significantly the cost of borrowing, in addition to a raft of tax cuts, he said, have been put in place to bring relief to businesses, with the aim of lowering the cost of doing business and
shifting the focus of our economy from taxation to production.