Plans for a West African Monetary Zone (WAMZ) have been pushed back due to the global economic downturn, reports Reuters.

The Federation of Construction Industry (Foci), on Tuesday lamented that the costs of foreign exchange incurred by contractors in Nigeria on outstanding claims and ongoing projects will result in short payments.

The Authority of Heads of State and Government of the West African Monetary Zone (WAMZ) yesterday said December 2009 was no longer feasible for the take-off of its single currency and monetary union within the region.

The Council of Ministers has endorsed a bill on Friday, June 19, 2009, criminalizing the practice of money-laundering. It sent this bill to Parliament for final approval in what industry experts say is a long overdue law.

Intra-day sharp retreat partly due to SNB's intervention in Swiss franc and the release of better-than-expected U.S. data suggests downside risk is for pullback to the Tenkan-Sen and Kijun-Sen (both at 1.3982) and possibly towards the top of Ichimoku cloud

As dollar has recovered again after intra-day retreat to 95.03 partly due to the release of better-than-expected U.S. durable goods order and although recovery towards the Kijun-Sen (now at 96.02) cannot be ruled out, upside would be limited to 95.40/45

EUR/USD retreats sharply after rebounding to as high as 1.4137 earlier today. Still, with 1.3984 minor support intact, intraday bias remains mildly on the upside. As mentioned before, the falling wedge pattern since 1.4337 argues that it's merely a correction

The single currency retreated after intra-day rise to 134.99 (our sell strategy to enter at 135.30 could not get a fill) and the possible 'evening star' pattern formed at this high suggests fall to Tenkan-Sen (now at 133.18) is under

Well, sometime it seems like taking a high risk trade might not be a bad idea, despite rising to 1.6605 earlier today, the British pound did falter below indicated key resistance at 1.6622 and retreat on dollar's broad-based rebound due

Price action on AUD/USD, a daily chart of which is shown, has made a third bounce up off a key uptrend support line extending from the March lows. This occurs within the context of a continuing sideways consolidation that is

The USD/JPY continues to head south from our 2nd tier uptrend line as the Yen participates in a broad depreciation of the Dollar. The Yen is also experiencing strength after Japan reported a higher than expected Trade Surplus, showing the

The Cable has propelled through our 3rd tier downtrend line on moderate volume as the greenback depreciates across the board. Investors are divesting from the dollar ahead of the Fed's decision on monetary policy later today. Investors believe the FOMC

Dollar-Swiss rose sharply after recording a low of 1.0632 and is now targeting a rise towards 1.1000. A retracement back to 1.08 would confirm the continuity of the medium term consolidation between 1.06-1.10. Till this range holds, one may play

The EUR/USD has successfully surpassed the psychological 1.40 level and our previous 3rd tier downtrend line on substantial volume. Therefore, the currency pair may have what it takes to buck the near-term downtrend. The EUR/USD is strengthened despite disappointing PMI

Being tired of The Post Office and Bureau De Change rates, I carried out extensive research on other options for exchanging Sterling for Euros.I found that the FairFX Euro card was the ideal option for my European travel. For me,