Funds repatriation bill set to pass

The Homeland Investment Act (HIA), which enables firms to bring home funds held overseas at a rate of 5.25%, instead of the current rate of 35%, is likely to be passed before the presidential election on November 2 – either to prevent a new Democrat president from rejecting the bill or to bring political prestige to the incumbent president, said Michael Woolfolk, senior currency strategist at Bank of New York in that city.

But while analysts agree the move is imminent, and concur that some $200

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Solutions to rouble trouble

The rouble derivatives market developed in haste after further liberalisation of the currency in July 2006 and positive changes to the Russian Civil Code 1062, centring around the previous treatment of derivatives as gaming, in January 2007.

Heading for the final USD selling opportunity

Hans-Guenther Redeker, global head of FX strategy at BNP Paribas in London, suggests a way to take advantage of the prospect of near-term dollar strength to protect against the likelihood of longer-term USD weakness.

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