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Office established to handle forex reserve loans	20:11 China Daily - Policy and Regulation
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Forex: USD/JPY falls sharply to threaten 89.00; Japan's Amari on the wires	20:01 FXstreet - Forex News
Euro bulls hold sway on forex front	19:59 FT.com
Euro hits 11-month high versus dollar	19:59 FT.com
‘True’ inflation remains unknown	19:59 FT.com
Pension reform to net Treasury £9bn	19:59 FT.com
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Japan's Amari: Policy accord will say what BOJ, govt must do for economy	19:52 Reuters - Economy
Forex Flash: Short the AUD, one of our top trade recommendations - Goldman Sachs	19:51 FXstreet - Forex News
Rubber Nears 9-Month High as Yen Weakens on Stimulus Speculation	19:46 Bloomberg - Regions
Fast food dollar menus shrinking	19:41 NewsNet5, Ohio - Consumer Reports
Forex: EUR/CHF spike eyes 1.2400	19:41 FXstreet - Forex News
Amari: A policy accord with BOJ will say clearly what Government and BOJ must do for the economy	19:36 ForexLive.com
Amari: Excessive weak Yen has negative effects on livelihoods	19:36 ForexLive.com
Amari: Yen has corrected to levels in line with fundamentals	19:36 ForexLive.com
Yen traders: time for a heads-up	19:36 ForexLive.com
Bahrain is ranked top in economic freedom	19:33 Gulf Daily News - Business
Forex Flash: CAD/JPY, sustainability above 90.00 exposes 95.00/97.50 - TDS	19:31 FXstreet - Forex News
Economic Freedom Index: Nigeria Ranked 120 out of 177 Nations	19:29 ThisDay Live
German economy set to bounce back from crisis blues	19:26 The News International - Business
Chinese economy to rebound in 2013	19:26 The News International - Business
Forex fear factor returns to haunt Indonesian investors	19:26 The News International - Business
Gold up	19:26 The News International - Business
Japan’s Economy Minister Amari: Next BOJ Governor should be able to communicate globally	19:26 ForexLive.com
Clark council asked to declare business park near Sellersburg an Economic Revitalization Area	19:25 The Courier-Journal, Kentucky - Indiana
Economy in brief: Surya Semesta sets Rp 1.5 trillion in capex	19:25 Jakarta Post - Business
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Subsidies, Trade Deficit Weigh on Rupiah	19:22 Jakarta Globe - Business
Suga says government shouldn’t comment on currency levels	19:16 ForexLive.com
Suga: Says Yen’s excessive rise is being corrected	19:16 ForexLive.com
Shirakawa Says Economy to Remain Weak as BOJ Prepares to Meet	19:16 Bloomberg - Regions
Economy in brief: Capital goods sales to top $25b in 2013	19:15 Jakarta Post - Business
Platinum Tax Defenders Notes Recent IRS Leniency in Payment Plans & Offers Taxpayers …	19:09 Yahoo! US - Business - Press Releases
Tuesday: Retail Sales, PPI, Empire State Mfg Survey	19:04 Calculated Risk (Weblog)
Forex: EUR/USD stands sub-1.34, Nikkei pops	19:01 FXstreet - Forex News
Forex: USD index limited below 79.50	19:01 FXstreet - Forex News
Octagonal Resources generates further revenue from gold tailings processing	18:55 Proactiveinvestors - Australia
Ark Mines to farm into Northern Territory gold projects	18:55 Proactiveinvestors - Australia
The Economic Recovery Will Drive These Industrial Stocks	18:55 The Motley Fool
MICHIGAN BRIEFS: Economic indicators indicate, well, nothing for sure	18:53 Crain's Detroit Business - Education & Training
Australian dollar unchanged by Bernanke comments	18:52 Business Spectator

Gold Better as Currency War Escalates

by Peter A. Grant

Jan 14, AM
(from USAGOLD.com) --

Gold rebounded in earlier trade, but has since slipped back into the range after the dollar bounced off a new 3-week low. Recent dollar weakness, primarily stemming from euro strength, is now being overwhelmed by renewed yen weakness. The yen set a new 2 1/2 year low against the dollar, and a new 1 1/2 year low against the euro today. The yen has been weighed in recent weeks by Japanese monetary and fiscal policy decisions aimed at debasing the yen.

With the EU already back in recession, it will be interesting see what level of euro appreciation will be tolerated before there is some sort of policy retaliation. A higher euro negatively impacts European exporters — perhaps most notably German exporters — making economic recovery increasingly more difficult with every uptick in the single currency.

Over the weekend, the much discussed trillion dollar platinum coin gimmick to overt the debt ceiling debate was officially quashed by both Treasury and the Fed. I didn't expend much time on this silly idea because...well, it was silly. However, that still means a potentially contentious battle over the debt ceiling is in the offing. Treasury may be able to forestall with some not so overt gimmickry into March, but some are suggesting that the government will run out of money sometime in February.

Be assured, the debt ceiling will get raised. What remains to be seen is if there are some spending concessions and/or long-term entitlement reform extracted in the process. Whatever that outcome, sometime before the end of Q1 we will commence the inevitable march toward the next debt ceiling.

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Gold Better as Currency War Escalates