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Yahoo Finance: Currencies News
The ECB can and should do more to boost lending in the euro area. The central bank could lower the policy rate further and accelerate money supply growth. The ECB could also create a negative deposit rate, provide banks with liquidity, and adopt a version of the U.K.'s "funding-for-lending" scheme. Earlier this month, the European Central Bank surprised markets by lowering its main refinancing rate by 25 basis points to 0.25%.
Observations: Can Bitcoin Break Out?
Techies around the world were all atwitter last week—not just about Twitter's initial public offering, but also about a new record value of $395 for the digital currency bitcoin. Earlier this year, the virtual currency hit a high of $230 after bank depositors in Cyprus were hit with taxes to bail out failing banks before crashing to $50. The currency's creator, who uses the pseudonym Satoshi Nakamoto, envisioned a means of exchange immune to the political or economic fortunes of any single country.
How Higher U.S. Rates Affect Asian Bond Markets
Higher global interest rates and depreciating currencies push up borrowing costs and debt servicing obligations for Asian governments and corporates. Foreign currency borrowing is still perceived as a risk to Asia’s economic and financial stability. Capital inflows linked to easy global monetary settings have lifted foreign ownership rates in Asia's local currency bond markets. Strong growth in local currency bond markets helps to reduce liquidity concerns, exchange rate risk, and the threat of financial turmoil.
Is Germany Jeopardizing the Global Recovery?
Germany's growing current account surplus may be weakening the global recovery. Despite relatively strong economic conditions, German domestic demand remains soft. A large investment gap reduces the country's long-run growth potential. In a report published last week, the U.S. Treasury sharply criticized Germany for its export-facing economic policies.
Euro zone unemployment to remain at record high
Of all the precious metals, gold is the most popular as an investment. Investors generally buy gold as a hedge or harbor against economic, political, or social fiat currency crises (including investment market declines, burgeoning national debt, currency failure, inflation, war and social unrest). The gold market is subject to speculation as are other markets, especially through the use of futures contracts and derivatives. The history of the gold standard, the role of gold reserves in central banking, gold's low correlation with other commodity prices, and its pricing in relation to fiat currencies during the current global financial crisis, suggest that gold behaves more like a currency than a commodity.