Top
New York  London  GMT  Tokyo  Sydney 

Brazil says IMF move not intended to weaken the dollar

By   || June 10, 2009 at 16:20 GMT
|| 0 comments || Add comment

Brazilian finance minister Mantega says his countries $10 bln contribution to the IMF is not intended to weaken the dollar. Maybe not, but that has been the effect thus far. The market is concerned that Brazil will dump $10 bln in Treasuries to buy bonds from the IMF. US 10-year notes are at 3.93%, their highest since last October. An auction is underway with results due at the top of the hour, which could be contrubuting to the weakness of Treasury prices.

EUR/USD has rebounded back above 1.4000 on the Brazilian news.

Share and Enjoy:
  • RSS
  • Facebook
  • Twitter
  • LinkedIn
  • email
  • Print
  • Add to favorites
  • del.icio.us
  • Digg
  • NewsVine
  • StumbleUpon

Add a comment

Comments are closed.

Bottom