Salient to Investors: IMF said the yen is moderately overvalued medium-term because of safe-haven inflows, and the Japanese central bank should consider further monetary stimulus. Intensification of the flight to safety in financial markets could lead to exchange-rate volatility, further strengthen the yen and depress equities and business and consumer confidence. Read the full
READ MORE... →Salient to Investors: Greece accounts for just 2.3 percent of EU GDP, and 4.3 percent of EU debt. Without Greece , the EU would have had a trade surplus in 2011. Germany has posted a trade surplus every month since May 1991 and has avoided recession since 2009. OECD says the euro is undervalued
READ MORE... →Predictions: Bank of Tokyo-Mitsubishi UFJ Lee Hardman expects the Bank of England will have to ease more, which will weaken the pound to under $1.50 in the next couple of months. Economists expect data next week to show the U.K. economy is slowing. Read the full article at http://www.bloomberg.com/news/2012-06-09/pound-strengthens-as-boe-keeps-stimulus-on-hold-gilts-decline.html
READ MORE... →