dollar

China's central bank is calling for the US dollar to be replaced as the global reserve currency.

VAM Funds has launched a sterling and euro share class for the VAM Driehaus Fund to prevent investors being exposed to currency risk.

Sterling has sunk to a two-year low against the dollar as traders bet the Bank of England might be the only central bank to cut interest rates in 2008.

The dollar has plummeted against all major currencies on dire US retail sales and fears that the Federal Reserve may need to slash interest rates further to stop the downward spiral in the credit markets, The Telegraph reports.

The pound hit at an all-time low against the euro earlier this afternoon, falling to 75.86p per euro.

The pound hit its highest level for 26 years earlier today after concerns surrounding the US sub-prime housing market saw the dollar plummet to a 12-year low.

The pound hit a 26-year high against the dollar this morning fuelling yet more predictions of interest rate rises.

News out this week investment banks may be lowering their forecasts on average oil prices through 2007 should spell good news for anyone considering investments of any kind.

STERLING LEAPT TO a two-year high yesterday as there is growing expectation of further rises in UK interest rates, according to the Scotsman .

The FTSE 100 Index has risen 55.8 points, or 1%, to 5588.5 points this morning, paced by mining companies.