Network News

X My Profile
View More Activity





Morning briefing: dollar weak vs. euro, pound

*The United Arab Emirates said it will suspend some key BlackBerry services beginning Oct. 11, following up on its proclamation last week that the devices present a potential national security threat.

*The Chinese government's efforts to cool its housing market and boost consumption seem to be working, according to new data released Monday: Home prices in 100 Chinese cities dropped 1.32 percent in July from a month earlier. Meanwhile, passenger-car sales grew at a faster pace--up 15.4 percent from a year earlier to 822,300 in July--thanks to government subsidies for fuel-efficient models.

But there was worrying news in China's manufacturing sector about the effects of government efforts to discourage investment in polluting and energy-intensive factories. In July, manufacturing activity contracted for the first time in 16 months.

*Manufacturing growth in the U.K. declined more in June than originally reported, but stayed higher than some predictions, and offered more evidence the country's gradual economic recovery is persisting.

*As the recovery in Asia and Europe gains momentum, the yen fell for the first time in four days versus the euro, while the dollar fell to a three-month low against the euro and the pound rose to a five-month high against the dollar.

By Ariana Eunjung Cha  |  August 2, 2010; 7:11 AM ET
Categories:  *Morning briefing  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Week ahead: July employment report
Next: Bernanke: U.S. has long way to go on economic recovery

Comments

The dollar is the last remaining place where your money is safe. Obama is trying to take the dollar down so he will have accomplished his goal of making the USA a third world country. Thank you obama voters and democrats for taking down this once great country.

Posted by: Anonymous | August 2, 2010 9:16 AM | Report abuse

Actually, anon, right now, we want the dollar to be weak. Every time it strengthens, our export sector is hurt, and the export sector of our economy is the only area that is doing well. The overall trade imbalance between our imports and exports is a fundamental problem in our economy that can only be fixed with an adjustment to the dollar.

Posted by: rlalumiere | August 2, 2010 10:37 AM | Report abuse

'But there was worrying news in China's manufacturing sector about the effects of government efforts to discourage investment in polluting and energy-intensive factories. In July, manufacturing activity contracted for the first time in 16 months." Worrying news? Ms Cha you have GOT to joking. Over producing while wrecking the health of both their workers & environment... is a good thing? That a Chinese gov is actually doing something is excellent with the only down side of wondering how disastrously bad it had to get before they did.

Posted by: Anonymous | August 3, 2010 11:17 PM | Report abuse

The comments to this entry are closed.

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company