Yen continues to kick!  Jim Rogers disses sterling…  China’s 4th QTR GDP…  Singapore announces stimulus… And Now… Today’s Pfennig!

Dollar up vs yen as BOJ warns of further export woes…  Euro gains broadly; doubts about U.S. auto bailout loom… Market expects ECB rate cut; policy-makers seem divided

Paulson heads back to congress…  BOJ cuts rates to below the US…  China to continue increasing the value of the Renminbi… And Now… Today’s Pfennig!

Santa rally continues…  Norway cuts 175 basis points…  Japanese intervention possible…  Indian rupee moves up… And Now… Today’s Pfennig!

Yen slides, dollar dips vs euro on US auto bailout hopes
US could vote on rescue plan as early as Wednesday… BoJ’s Shirakawa comments on FX mkt weigh on yen

RBA cuts 100 BPS…  It IS a recession!  Paulson to ruffle feathers?  Yen to rally hard? And Now… Today’s Pfennig!

The U.S. economy shrank at an annualized rate of 0.3% in the third quarter – the biggest decline in seven years – after businesses cut back on investments and consumer spending experienced its sharpest pullback since 1980. And though the contraction was smaller than economists expected, they are still predicting a drawn-out downturn that could be one of worst U.S. recessions since the Great Depression.

The Daily Reckoning’s currency expert Chuck Butler says the dollar is being taken to the woodshed. The greenback is losing ground against all major currencies as the credit crisis continues to wreak havoc in the U.S economy. Chuck says disappointing inflation or retail sales data this week will send the dollar to new depths…

Despite having the lowest overnight rate of the Group of Seven nations, Japan’s central bank unanimously voted today (Friday) to keep its key interest rate steady at 0.5%.

The Fed decided to leave out some language that had the markets thinking they had figured out the Fed… But in reality they know nothing more than they did earlier in the day!