April 23rd Top FX Headlines

With back to the wall, [B]Paulson[/B] states that US and “Chinese counterparts are looking for tangible results”. “Time is of the essence.”

[B]Japan[/B][B]’s debt rating[/B] raised to AA from –AA, one level higher and the third highest grade. Upgrade was based on a restored banking system as the economy is set to grow about 2 percent. Sets environment for further rate hike potential.

[B]Japan[/B] is heavily considering establishing a special investment fund, modeled off of Singapore Temasek Holdings. Plan formulated to mitigate potential impact of an aging population.

Sarkozy and Royal win first rounds, head off to May 6 [B]French presidential elections[/B].
[B]ECB’s Garganas[/B] denies rumors that he had stated the strengthening of the euro will make the prospect of rate hikes more distant.

[B]ECB’s Draghi [/B]remains “very vigilant” on inflationary pressures in the Eurozone

[B]UK[/B][B] March M4 money supply[/B] rise 1 percent on the monthly comparison, vaulting higher by 12.8 percent – much higher than expected.

[B]Pound sterling[/B] drops below the $2 figure.

[B]Australian first quarter producer price index[/B] was lower than expected, coming in flat for the month over month comparison.