Currencies

Euro Heads for Biggest Weekly Decline Since January on Greece Aid Concern The euro headed for its biggest weekly drop against the dollar since January as concern Greece will fail to secure financial assistance from the European Union reduced demand for the currency.

Yuan Poised to Become Global Reserve Currency, Goldman Sachs' O'Neill Says China’s yuan is destined to become a global reserve currency rivaling the dollar and the euro, as the nation’s economic power increases the currency’s allure, said Jim O’Neill, chief economist at Goldman Sachs Group Inc.

Rogers Says He's Shunning `Pretty Bad' Sterling, Doubts He'll Ever Own It Investor Jim Rogers, chairman of Singapore-based Rogers Holdings who co-founded the Quantum Fund with George Soros, said he is shunning sterling because of the U.K.’s trade deficit.

Fed May Increase Discount Rate Before Next Policy Meeting, Economists Say The Federal Reserve may increase the discount rate, charged on direct loans to banks, before the next meeting of the Federal Open Market Committee on April 28, economists said.

Dollar May Drop Versus Yen on Japan's Holiday `Jinx,' Credit Agricole Says The dollar may drop against the yen on speculation currency volatility will jump as Japan’s financial markets close for a national holiday on March 22, according to Credit Agricole CIB.

Canada Dollar May Fall Versus Greenback on `Crowded' Bets, Barclays Says Canada’s currency may fall against the U.S. dollar as bets that the currency will rise have become the most “crowded” since 2007, according to Barclays Plc.

Sticky Core Prices May Boost Pressure for Policy Rate Rise: Canada Credit Investors are bringing forward their expectations for when the Bank of Canada will raise its key interest rate after reports today showed a measure of inflation above the bank’s forecast and strong retail sales.

Mexico Central Bank May Keep Rate at 4.5% as Economy Keeps Prices in Check Mexico’s central bank will probably keep its benchmark interest rate unchanged today as policy makers expect the pace of recovery after the deepest recession in almost 80 years to keep prices in check.

Pound Declines as Sentance Sees Risk of Double-Dip Recession in Britain The pound fell versus the dollar and euro after Bank of England policy maker Andrew Sentance said Britain may return to recession, stirring speculation interest rates will stay at a record low.

Swiss Franc Strengthens for a Sixth Day as SNB Seen Ending Currency Policy The Swiss franc strengthened against the euro for a sixth day, its longest run of gains since December 2008, on speculation the central bank is abandoning a policy of curbing the currency’s appreciation.