Network News

X My Profile
View More Activity





Morning briefing: More calls for yuan flexibility

1. British oil giant BP signed a 30-year deal with Azerbaijan on Thursday to explore and develop a major Caspian Sea gas field.

2. The dollar slid to a 15-year low versus the Japanese yen, an all-time low against the Swiss franc, a 27-year-low against the Australian dollar and an eight-month low against the euro. The currency fluctuations were due to the prospect of more money-printing by the U.S. Federal Reserve, the strength of the Australian job market revival and anticipation of an upcoming European Central Bank policy meeting.

3. The European Union is considering taxing bank profits and wages to recoup bailout funds.

4. Less than a day after U.S. Treasury Secretary Timothy Geithner called the currency issue the "central existential challenge," the head of the IMF and the European Trade Commissioner called for the appreciation of the Chinese yuan.

5. Germany's industrial production rose 1.7% in August from the previous month, much stronger than the increase expected by economists.

By Ariana Eunjung Cha  | October 7, 2010; 8:00 AM ET
Categories:  *Morning briefing  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Economic agenda: Thursday, Oct. 7, 2010
Next: Sept. retail sales rise 2.6 percent, but pace of growth slows

No comments have been posted to this entry.

Post a Comment

We encourage users to analyze, comment on and even challenge washingtonpost.com's articles, blogs, reviews and multimedia features.

User reviews and comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions.




characters remaining

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company