Currencies

Dollar Advances Most Since June as Gobal Policy Makers Voice Their Support The dollar strengthened the most against the euro in four months as public officials from Gothenburg, Sweden to Tokyo said a strong U.S. currency is essential to the global economy.

G-7 Finance Ministers Push for `Strong Dollar' Before Meeting in Istanbul Finance ministers from the Group of Seven meet in Istanbul today pushing for a “strong dollar” amid concern its slide will impede their recoveries from the deepest global recession in the postwar era.

Canadian Currency Records Weekly Gain on Commodities, Outlook for Growth Canada’s currency posted a weekly gain as crude oil traded above $70 a barrel, gold rose and the International Monetary Fund raised its forecast for growth in the nation’s economy.

Chilean Peso Declines to a One-Month Low; Colombian Currency Strengthens Colombia’s peso rose for a fifth week, its longest winning streak since April 2008, on speculation dollar inflows into the South American country will increase.

Roubini Anticipates Dollar Dumping Only If Major U.S. Policy Mistakes New York University Professor Nouriel Roubini said the risk of countries dumping their dollar reserves will increase if the U.S. “doesn’t fix its own fiscal and economic house.”

Dollar to Reach 1.0505 Francs After Resistance Level: Technical Analysis The dollar may reach a three-week high of 1.0505 Swiss francs should it break above so-called resistance at 1.0447 francs, BNP Paribas SA said, citing trading patterns.

Pound Falls Versus Dollar as Stocks Drop Amid Concern Over Slow Recovery The pound fell against the dollar, capping a third straight weekly drop, as U.K. stocks slid amid signs the worst of the recession has yet to pass.

Poland May Raise Interest Rates Next Quarter, Rate Board Candidate Says Poland’s central bank may need to start raising rates next quarter as economic growth picks up to 2 percent to 3 percent, said Adam Glapinski, an economic adviser to the President and a candidate for the bank’s next rate board.

Rand Set for Biggest Weekly Drop Since May After MTN-Bharti Merger Fails The rand posted its biggest weekly decline in twelve weeks after the Bharti Airtel Ltd. merger with MTN Group Ltd. failed and comments by the central bank that it boosted dollar purchases prompted traders to sell the currency.