All Posts Tagged With: "Swiss Bank"
A Currency Conundrum: Beware of the U.S. Dollar’s “Head Fake†Rally
Don’t mistake the U.S. dollar’s recent rally for strength. If anything, it’s a head fake of legendary proportions.
In fact, the dollar’s recent run-up is actually a warning that risks are escalating.
To better understand what I mean here, let’s look at the greenback’s recent performance against the euro. After bottoming at an all-time low of $1.6019 versus the euro on April 22, the dollar has soared nearly 4% and was trading at $1.5428 per euro early yesterday (Wednesday).
Now many of the Wall Street types expect that rally to continue. Just yesterday, UBS AG (UBS) predicted the greenback would rise to $1.47…
8May2008 | Money Morning | Comments Off | ContinuedNo Paternity Test was Required – or Desired

April 6, 2008 – Today’s “Sunday Business†section of The New York Times is a “keeper.†It contains several fine and germane articles which will bear reading again and again as time passes and as events in the financial world continue to develop.
The lead story is about the subprime-mortgage travails of UBS, the giant of Swiss banking, which was formed as a merger of Union Bank of Switzerland and Swiss Bank Corporation in 1998. UBS found itself with a total exposure of $80 billion in less-than-stellar mortgages, some of which had been posted by its Dillon Read subsidiary. To date,…
6Apr2008 | William Kurtz | Comments Off | Continued
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