The Capital Letter: Week of December 14 Andrew Stuttaford © Jonathan Ernst/Reuters
So, as I write (12:31 p.m.), it’s still wait and see when it comes to a stimulus package.
Stocks slipped from record highs on Friday as lawmakers rushed to bridge differences on additional coronavirus stimulus measures.
The Dow Jones Industrial Average fell about 150 points, while the S&P 500 dipped 0.4%. The Nasdaq Composite traded 0.1% lower. All three indexes touched new intraday highs in morning trading after closing at records in the previous session.
Leaders on Capitol Hill said they are close to an agreement that would provide $900 billion in additional aid. The talks, which have stretched on for months, are up against the wire, with federal funding lapsing at 12:01 a.m. ET on Saturday.
The Swiss Franc and Vietnamese Dong — the Odd Couple
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U S Asks India to Limit Forex Intervention, Adds India to Its Monitoring List | Business
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Thailand has no intention of using the exchange rate as a tool to gain an unfair trade advantage and competitiveness over trading partners, says the Bank of Thailand.
The central bank’s comments came following the issue of a US Treasury Department report that placed Thailand on the monitoring list of 10 countries labelled potential currency manipulators. The other nine countries on the list are China, Japan, South Korea, Germany, Italy, Singapore, Malaysia, Taiwan, and India.
The US Treasury Department issued its report titled “Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States” on Dec 16.
According to the report, Thailand has been put on the monitoring list for having a significant bilateral trade surplus with the US of over US$20 billion and a material current account surplus of more than 2% of GDP.
U.S. fund easing poses challenges to Taiwan s forex market: central bank
12/17/2020 09:53 PM
Central Bank Governor Yang Chin-long
Taipei, Dec. 17 (CNA) Taiwan s Central Bank Governor Yang Chin-long (楊金龍) said Thursday that a move by the United States to ease its monetary policy to pump large funds into the economy has posed challenges for Taiwan in its attempts to maintain the stability of the foreign exchange market.
Speaking at a news conference after the central bank s quarterly policy-making meeting, Yang said amid the current super easing policy adopted by Washington to take on the economic impact resulting from COVID-19, many countries have seen their currencies rise as ample funds in the U.S. sent the American unit lower.