Barclays Predicts Dollar to Fall 8% Against Yen by March ’09
Barclays Capital issued a statement today suggesting that the yen may gain 8% or more over the buck as investors unwind carry trades over the next four to six months.
Weak Retail Sales Pulls Down the Pound
Retail sales in Britain fell 0.4% in the month of September forcing the pound down to $1.6227 – its lowest level in five years.
Speculation Builds that U.S. Government Will Aid Homeowners
In an article published today, the Wall Street Journal reported that the U.S. government may provide up to $40 billion to tackle the problem of home foreclosures, which increased an astounding 71% during the third quarter.
Foreclosures in U.S. Increase 71 Percent
The number of personal home foreclosures in the U.S. increased 71 percent in the third quarter, as more than 766,000 homes received foreclosure notices.
