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Asian Central bankers meet as dollar swoons.(Insider Report)(Brief Article)
In late February, South Korea's central bank announced that it would diversify its foreign exchange reserves by moving out of the U.S. dollar and boosting its holdings in currencies like the Australian and Canadian dollar. The result, noted BBC News on February 22, was a "round of dollar declines," and talk from other central bankers that "other nations may follow suit and now ditch the dollar." This pointed reminder of the dollar's increasing debility caused the Dow to plummet 174 points.
Days later, reported Bloomberg financial columnist William Pesek, Jr. on March 2, officials from Asian central banks convened in Bangkok "to discuss the dollar's slide." The infant banking cartel, which calls itself "The Asian Bellagio Group," is "a formidable crowd, considering it holds well over $1.1 trillion of U.S. Treasuries." Although the meeting "didn't mark a coordinated effort to abandon the dollar," it did demonstrate that ...
- Asian central banks act 'parachutes' for dollar.
- News wire article from: Asia Africa Intelligence Wire December 15, 2003 700+ words
...reserve numbers of Asian central banks and one would...reserve of the Asian central banks in the first...2003. Most of the Asian central banks are trying...currencies against the dollar and are intervening to buy dollars. They seem to...
- Despite dollar doldrums, Asian central bankers have little choice.
- News wire article from: Asia Africa Intelligence Wire February 26, 2005 700+ words
...denied, that Asian central banks were...to sell US dollars sent the...support the US dollar, others...guarantee. Asian central banks have...than the US dollar. Although...reserves from dollars into euros...One day, Asian central banks will...buying US ...
- Asian central banks fret over weak dollar.
- News wire article from: UPI Perspectives March 10, 2005 700+ words
...March 10 (UPI) -- Asian central banks have been buying up dollars this week to weaken...concerns that a weak dollar will hurt their competitiveness...strengthening the dollar in the short term...sentiment on the dollar, the belief Asian...
- NT Dollar Stabilizes on Joint Intervention of Asian Central Banks.
- Magazine article from: Taiwan Economic News March 4, 2009 700+ words
...Both Korean won and Singapore dollar rose in value against the U.S. dollar yesterday, although the Japanese...The rare joint action of Asian central banks aims to help prevent...value against the U.S. dollar this year, warning that further...
- Dollar slips against yen as Asian central banks intervene to slow dollar's drop.
- News wire article from: The America's Intelligence Wire January 12, 2006 700+ words
...slow the dollar's fall. The dollar was trading at 114.00 yen...Japanese importers' buying, the dollar gave up its gains and fell...and Singapore bought U.S. dollars Thursday, thereby pushing...staged huge rallies against the dollar in the opening days of 2006...
- Greenspan Cites Concern about Dollar-Buying by Asian Central Banks.
- News wire article from: Asia Africa Intelligence Wire July 17, 2003 700+ words
...the Asian economies' holdings of dollar assets following dollar-buying operations, Greenspan said...Japan bought more than 42 billion dollars in May and that Japan, South Korea...accumulated reserves totaling one trillion dollars.
- Bond market's resilience surprises investors; Asian central banks still keen on...
- Magazine article from: Investment News December 6, 2004 700+ words
...bonds.'' Falling dollar But some fixed-income...least not while the Asian central banks continue to buy...the face of a falling dollar, but they may believe...buy U.S. debt, the Asian central banks are financing...continue to do that, the dollar could continue to fall...
- Europe looks East for investors / Asian borrowers.(Asian central...
- Magazine article from: The Banker Marray, Michael April 1, 2009 700+ words
...Michael Marray Asian central bank reserves...environment, Asian central banks have increased...and New Zealand dollars and Asian emerging...as China from dollar to euro assets...euro. And though Asian central banks are buying...
- Now you have to worry about Asian central bankers, too.
- News wire article from: The America's Intelligence Wire February 25, 2005 700+ words
...plans to sell existing dollar assets, though it...pounds or Canadian dollars. Japanese finance...arrangement _ relying on Asian central banks to forestall the dollar's slide _ is unsustainable...having to buy even more dollars than it does now to...
- Asian central banks on the defensive.
- News wire article from: UPI Perspectives Kolesnikov-Jessop, Sonia October 6, 2004 700+ words
...stimulate growth. With most Asian central banks on the defensive, investors...happening because the weak-dollar trade caused massive capital...rate is deflating the weak-dollar trade gradually. "Asian central banks do not have to raise...
Source: HighBeam Research, Asian Central bankers meet as dollar swoons.(Insider Report)(Brief...