Jesse's Café Américain Tue 2009-10-13 20:23 EDT

Central Banks More Aggressively Reducing US Dollar Exposure In Their Reserve Portfolios

Jesse

``Global central banks are getting more serious about diversification, whereas in the past they used to just talk about it,'' said Steven Englander, a former Federal Reserve researcher who is now the chief U.S. currency strategist at Barclays in New York. ``It looks like they are really backing away from the dollar.''

aggressively reduced; central bank; Dollar exposure; Jesse's Café Américain; reserve portfolios.

zero hedge Tue 2009-10-13 20:07 EDT

Global Central Banks Join The "Short Dollar" Bandwagon

A recent piece by Barclay's Steven Englander demonstrates how everybody and the kitchen sink is soundly amused by Geithner's call for a strong dollar. "The IMF Composition of Official Foreign Exchange Reserves data suggest that central banks are doing more than talking about reducing the concentration of USD in their reserve portfolios. They are actually acting on their statements." [dollar losing reserve currency status]

bandwagon; Global Central Banks Join; short dollar; Zero Hedge.

Fri 2009-09-04 19:05 EDT

Lehman downfall triggered by UK and US mix-up

*** Communication breakdown revealed in first-hand accounts of bank collapse *** Blame game goes on as G20 ministers prepare for crucial London talks A breakdown in communications at the highest level between the US and the UK led to the shock collapse of the investment bank Lehman Brothers in September last year, a Guardian/Observer investigation has revealed. The downfall of Lehman, which triggered the biggest banking crisis since the Great Depression, came after a rescue bid by the high street bank Barclays failed to materialise. In London, the Treasury, the Bank of England and the Financial Services Authority all believed that the US government would step in with a financial guarantee for the troubled Wall Street bank.

Lehman downfall triggered; mixed; UK.