Can Cyprus Remain a Foreign Exchange Haven?

Cyprus bank

In much the same way that profits earned abroad by American companies are not kept physically offshore, foreign exchange,¬†brokers in Cyprus have been alerting clients that their accounts are not under threat from any confiscatory measures like the savings accounts for the citizens of the island nation. Due to a favorable regulatory regime, Cyprus is one of the top five foreign exchange trading hubs for brokers. ¬†While the gross domestic … [Read more...]

Currency Survival In The European Debt Crisis

European markets

What has been perhaps the most significant factor in the European Debt Crisis for the currencies markets has not been the actual event itself, but the reaction of global central bankers. The rounds of quantitative easing that have been used to combat falling asset prices have engendered profound consequences not previously considered. Certainly among those roiling the markets has been the detachment of gold from its traditional link to fiat … [Read more...]