Zloty, Peso, Won, Rand Never Looked Better to Currency Traders

(Bloomberg) -- Investments in emerging-market currencies, from the Mexican peso to the South Korean won, have never been safer.

The cost of options to protect against fluctuations in emerging-markets fell last week to a record low, a sign investors have grown more confident in the stability of developing countries, according to data compiled by JPMorgan Chase & Co.


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China raises banks' required reserves again

(Reuters) - China on Sunday ordered banks for the second time this month to hold more of their deposits in reserve in an attempt to prevent credit and investment growth from causing the world's fourth-largest economy to overheat.

The People's Bank of China said big banks would have to hold 11 percent of their deposits in reserve at the central bank as from May 15, up from 10.5 percent now.


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UPDATE 2-Fight over Iraq war funds heads toward new phase

(Reuters) - By Caren Bohan

WASHINGTON, April 28 - A fierce political battle over a Democratic plan to pull U.S. troops from Iraq is moving toward a critical stage as President George W. Bush prepares to veto it, but talks on a new bill have quietly begun.


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UPDATE 1-Fight over Iraq war funds heads toward new phase

(Reuters) - WASHINGTON, April 28 - A fierce political battle over a Democratic plan to pull U.S. troops from Iraq is moving toward a critical stage as President George W. Bush prepares to veto it, but talks on a new bill have quietly begun.

The Democratic-led Congress plans to send Bush a bill on Tuesday that gives $124 billion for the Iraq war but requires a pullout to begin by Oct. 1. The White House has said Bush will waste no time in vetoing it.


Read more at Reuters.com Bonds News

U.S. fight over Iraq war funds to enter new phase

(Reuters) - The Democratic-led Congress plans to send Bush a bill on Tuesday that gives $124 billion for the war in Iraq but requires a pullout to begin by Oct. 1. The White House has said Bush will waste no time in vetoing it and may do so the day he gets it.

Debate on the bill has been marked by escalating rhetoric, with Senate Democratic leader Harry Reid of Nevada saying Bush has already lost the war and Republicans labeling him a defeatist.


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Canada's Dollar Hits Seven-Month High on Economy, Rising Commodity Prices

(Bloomberg) -- Canada's dollar reached a seven-month high as investors pared bets that the Bank of Canada will cut interest rates this year amid a strengthening economy and rising commodity prices.

Canada's currency gained for a sixth straight week, its longest winning streak since 2004, after Statistics Canada reported yesterday that its survey of managers showed increased expectations for manufacturing production. Rising prices for commodities, accounting for 54 percent of exports, also bolstered the Canadian dollar.


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RBS group threatens hostile offer, ABN opens books

(Reuters) - Three banks led by Royal Bank of Scotland threatened to launch a hostile bid for ABN AMRO in a sign of their growing resolve to elbow aside rival Barclays to secure the world's biggest banking takeover.

In response, ABN lifted a contentious "standstill" condition attached to opening its books to the group, saying it was "committed to exploring the consortium's proposal in a constructive manner."


Read more at Reuters Africa