Forex – Canadian dollar surges to new 30-year high against US dollar – Forbes. The Canadian dollar has been helped higher by broad weakness in the US dollar, amid expectations that the Federal Reserve will cut interest rates while the Bank of Canada at least leaves rates unchanged. Ashraf Laidi at CMC Markets said the fact that the Canadian dollar continues to gain against its US counterpart despite ‘creeping risk aversion’ underscores both the weakness in the US and the impact of ‘renewed hawkishness’ from Bank of Canada governor David Dodge. The Canadian dollar — a currency typically sensitive to movements in the oil price — has also been helped higher by crude oil prices. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. The content on this site, including news, quotes, data and other information, is provided by AFX News and its third party content providers for your personal information only, and neither AFX News nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. read more

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On May 6, Kranish attempted to pay for his meal at the Dari-Ripple in Walworth with a $20 "fine silver Liberty Dollar. Kranish is charged with four counts of party to misdemeanor theft by fraud, and Dudnik is charged with three counts of party to misdemeanor theft and one count of party to attempted misdemeanor theft. The company, which says the currency is backed by silver and gold reserves, has "encouraged persons who utilize the barter currency to offer it to merchants as barter payment for goods and services but not as ‘legal tender’ or ‘current money. Using Liberty Dollars as circulating currency could be a federal crime, according to the U. read more

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LONDON (Thomson Financial) – Euroshares are expected to slip back at the open as strong gains on Wall Street had already been priced in in Europe by the close of business yesterday, with financials set to take centre stage as the Bank of England agrees to throw Nothern Rock a lifeline. And Northern Rock investors — unnerved yesterday by talk of a profit warning at the mortgage bank — will be heartened by news the banking group will receive emergency funds from the Bank of England to ease a credit shortage sparked by U. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. The content on this site, including news, quotes, data and other information, is provided by AFX News and its third party content providers for your personal information only, and neither AFX News nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. read more

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Forex – Euro hits highs against dollar, pound as rate outlooks diverge – Forbes. LONDON (Thomson Financial) – The euro continued to hit a series of fresh all-time highs against the dollar and climbed to a 16-week high against the pound as investors bet that the European Central Bank could still raise interest rates. Yesterday European Central Bank president Jean-Claude Trichet told the European Parliament that euro zone monetary policy is still on the ‘accommodative side’ – boosting expectations that interest rates could still go up despite the turmoil in the credit markets. PK – news – people ). PK – news – people ) said he does not expect the shake-up to affect near-term monetary policy. The content on this site, including news, quotes, data and other information, is provided by AFX News and its third party content providers for your personal information only, and neither AFX News nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. read more

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WASHINGTON (Thomson Financial) – After a summer in which members of Congress said retaliating against China’s undervalued currency is critical to the survival of US companies, members returned from their summer break to find even higher priorities, which means a currency bill will be delayed at least until later in the fall or possibly next year. Instead, the two committees that approved China currency legislation over the summer — the Finance and Banking Committees — are waiting for the House to act next before pressing for full Senate passage. Other industry observers added that efforts by multinational companies to thwart legislation could easily delay House action, and said the Bush administration is also expected to work against the bill given its opposition to any legislation. But Hartquist of the China Currency Coalition said companies he represents are also pressing Levin and other House members to make sure the bill does not include many of the waivers in the Senate Finance bill that would allow the administration to avoid sanctions against China. While House passage of a currency bill would be seen as a trigger for more work in the Senate, it would also likely set up the possibly daunting hurdle of reconciling the House bill with the two competing Senate versions. The content on this site, including news, quotes, data and other information, is provided by AFX News and its third party content providers for your personal information only, and neither AFX News nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. read more

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KUALA LUMPUR, Sept 11 (Bernama) — The ringgit opened lower against the U. The dealers said market participants were spooked by the release of the weak U. The ringgit also opened lower against the Singapore dollar and was quoted at 2. This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA. read more

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Passage of the measures, which could include new energy-efficiency targets and initiatives to preserve and expand the region’s forests, would improve the outlook for climate-change negotiations President Bush plans to convene this month in Washington. Those talks are aimed at producing a longer-term agreement on targets for overall greenhouse-gas emissions that contribute to global warming. But the prospect of signing any climate-change restrictions is roiling the annual meeting of the Asia-Pacific Economic . read more

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Foreign exchange dealers believe that the demand for the shilling and inflows will keep the exchange rate fairly strong and not speculative trading in the coming days and weeks. In early trading at the commercial banks, the shilling had recouped ten cents of what it had lost at the opening, said Mr Chris Rwengo, chief dealer at Stanchart. He said that though he expects the shilling to remain fairly strong, small moves driven by daily client requirements and demands. Ms Mary Mumbi, a dealer at Nairobi Forex Bureau, said that forex inflows continued to determine the exchange rates but she added that the rates are difficult to predict currently. For the first half, the tourism sector experienced a 25 per cent growth with Sh34 billion in earnings compared to Sh27 billion in earnings for the first half of 2006. AllAfrica aggregates and indexes content from over 125 African news organizations , plus more than 200 other sources , who are responsible for their own reporting and views. read more

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Sure, the Canadian currency has been climbing for most of this year, helped by strong merger and acquisition inflows, strong commodity prices and the underlying strength of the Canadian economy. Apart from strong growth in the Canadian economy that helped the loonie to benefit as a high-yielding currency, it was lifted by a steady inflow of funds from merger and acquisitions as the steady rise in energy prices made investment in Canada’s energy industry an attractive prospect. Over the last few days, another rally in crude oil prices, as Hurricane Felix appeared a threat to oil installations in the Gulf of Mexico, also helped to underpin the Canadian currency. Despite the inflows that have characterized most of this year, this week has brought a reversal with the Canadian Pension Plan Investment Board announcing that it will bid for a 49% stake in Auckland International Airport. read more

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