Corporate foreign exchange news

Published by Zeb BhamThe price of goods imported into the US rose in January, according to the latest government figures.Labor Department statistics showed a 1.4 per cent rise in the import price index last month, with the appreciation attributed to the building momentum of global economic recovery, which pushed up prices for imported fuel, food and metals.Speaking to Business Week, Jay Bryson, global economist at Wells Fargo Securities LLC in Charlotte, North Carolina, said that while global growth is pushing import prices up, this has yet to feed through into the wider economy, leaving the US Federal Reserve room to manoeuvre with interest rates."Certainly commodity prices have bounced up and that reflects a rebound in industrial production around the world. But is this a big inflationary problem? I wouldn't go that far," he added.During foreign exchange trading yesterday, the dollar continued to climb against it major counterparts, supported by further evidence of global recovery.To find out more about international payments, visit our Smart FX site.