Thomson Financial NewsDollar o/n rates fall in Asia after US bailout approved (click here)
10.02.08, 12:11 AM ET
...The rate on overnight dollar funds fell to 3.0-4.5 percent, traders said. That compared to around 6 percent on Wednesday and 10 percent earlier this month when Lehman Brothers collapse sparked a resurgence in the year-old global credit crisis....
All I heard for days after the 'bailout bill' was signed was that the Dollar is strong. Well, it's not strong and the further into this mess we get the less strong it is thanks to people just like McCain.
The only activity that will return value to the USA dollar is a strong domestic economy based in manufacturing and low unemployment as proposed by the Democrats that are attempting to strengthen the Middle Class to return a demand economy back to this country accompanied by good paying jobs that provides that demand.
Yen Gains on Speculation Stocks Rout to Spur Carry Trade Unwind (click here)
By Stanley White
Oct. 8 (Bloomberg) -- The yen rose against the dollar and the euro on speculation a global stocks rout will prompt investors to pare carry trades, bets on higher-yielding overseas assets funded in Japan.
The yen traded at 101.35 per dollar at 9:07 a.m. in Tokyo from 101.47 late yesterday. It reached 100.24 on Oct. 6, the strongest since April 10. Japan's currency was at 137.51 against the euro from 137.89 yesterday. It touched 135.05 on Oct. 6, the highest since September 2005. The dollar traded at $1.3566 per euro from $1.3588 yesterday.
Last Updated: October 7, 2008 20:13 EDT
