Monday's Currency News

Update for Monday September 12th 2011 Germany rewrites its contract with ECB Jürgen Stark's resignation broke links between the European Central Bank and the Bundesbank, on which the euro's monetary guardian was modelled China trade figures highlight global divide Beijing is likely to face international pressure to allow its currency to appreciate faster as national trade with other countries remains robust Dollar borrowing costs add to strain on European banks Price of euro-dollar swaps has jumped fivefold since June, as French institutions brace for a potential downgrade Mainland influx poses competition issues for HK managers Foreign managers hoping to gain from Hong Kong's increasingly liberal financial relationship with China may have to take a very long term view Asia: take note of other property bubbles Central banks pondering the property booms in China, Hong Kong and Singapore should take note: institutionalised prudence did not save Spain but the factors leading to Spain's property boom are very similar, says Edward Chancellor