Euro rise may force ECB to pump up the rhetoric
2013-06-19 09:43:06 GMT : (Markets - FXMM/Europe)
LONDON: The rise of the euro must be sending a shiver down the collective spine of euro zone policymakers as it threatens the bloc's export competitiveness just as a fragile recovery might be taking hold.Whether the euro's strengthening is a sign of actual confidence, or reflective of a wider unwinding of positions in which investors had sold the single currency against a raft of emerging ...
Turkish lira firms after central bank skips repo auction
2013-06-19 09:40:07 GMT : (Markets - FXMM/Europe)
ISTANBUL: The Turkish lira firmed on Wednesday after the central bank skipped a repo auction to combat currency pressure brought on by concerns about domestic unrest and uncertainty over the US asset purchase programme.Turkish assets have been volatile since the end of May when anti-government protests flared up, unnerving investors already worried by an expected slowdown in the flow of cheap mone...
Dollar broadly steady as markets seek Fed policy clarity
2013-06-19 09:03:59 GMT : (Markets - FXMM/Europe)
LONDON: The dollar was broadly steady in subdued trading on Wednesday as markets awaited the outcome of the Federal Reserve's rate-setting meeting for clues on the future course of US monetary policy.Speculation that the central bank will start tapering its asset-buying stimulus before the end of the year triggered a recent sell-off in global stocks and also market volatility which caused the ...
Sterling steady before BoE minutes and US policy meeting
2013-06-19 08:20:45 GMT : (Markets - FXMM/Europe)
LONDON: Sterling was steady on Wednesday, staying stuck below a four-month peak against the dollar before the release of Bank of England minutes and the outcome of a US Federal Reserve policy meeting.The minutes of the Bank of England's policy meeting earlier this month will be watched to see whether any of the three policymakers, including outgoing Governor Mervyn King, who previously voted f...
Euro climbs to session high vs dollar; dollar pares gains vs yen
2013-06-17 23:26:08 GMT : (Markets - FXMM/Europe)
NEW YORK: The euro climbed to a session high against the dollar on Monday while the US currency pared gains against the yen as investors positioned ahead of the Federal Reserve's policy announcement.The euro was last up 0.2 percent at $1.3374 with a session peak of $1.3379. The dollar traded up 0.4 percent at 94.45 yen, closer to a session low of 94.08 yen than the session peak of 95.21 yen.Th...
US dollar gains vs yen on stock bounce, Fed meeting
2013-06-17 23:23:20 GMT : (Markets - FXMM/Europe)
NEW YORK: The US dollar climbed against the yen for the first time in five sessions on Monday, as stock markets rallied on expectations the Federal Reserve's policy announcement this week will reassure investors that monetary stimulus will remain in place.The yen weakened again though in mid-afternoon New York trade, following headlines from the Group of Eight meeting in Northern Ireland. Trad...
Yen lower as stocks recover, Fed assurance awaited
2013-06-17 10:29:12 GMT : (Markets - FXMM/Europe)
LONDON: The yen fell against the dollar and the euro on Monday as stocks bounced, but the Japanese currency stayed near two-month highs with investors seeking clarity on the Federal Reserve's ultra-loose monetary policy.The focus is on what Chairman Ben Bernanke will say following the US central bank's meeting on Tuesday and Wednesday. Expectations the Fed will start unwinding its asset pu...
Sterling near 4-month peak against dollar, Fed in focus
2013-06-17 10:25:56 GMT : (Markets - FXMM/Europe)
LONDON: Sterling held near a four-month peak against the dollar on Monday as signs the British economy is improving caused market participants to trim their expectations the Bank of England will ease policy further soon.Analysts said sterling moves this week would be dictated by the dollar as markets focus on Federal Reserve chairman Ben Bernanke's comments on June 19 after its monthly meeting...
Dollar firms as Fed meeting nears, shares bound higher
2013-06-17 10:21:23 GMT : (Markets - FXMM/Europe)
LONDON: The dollar edged up against the yen and euro while European and Asian shares recouped some of last week's losses on Monday, as investors hunkered down for the US Federal Reserve's meeting later this week.Uncertainty over the Fed's future policy course has triggered a sharp sell-off in broad risk assets in recent weeks and investors are hoping for some clarity on its intentions ...
Swiss franc comes off four-month high vs dollar
2013-06-14 07:19:50 GMT : (Markets - FXMM/Europe)
ZURICH: The Swiss franc drifted lower against the dollar on Friday, extending Thursday's drop from a four-month high as traders began to take profits on bets against the greenback.The franc took its lead from the euro, which came under some pressure against the dollar after European Central Bank president Mario Draghi said the ECB's bond buying programme was necessary and in line with its ...
Yen hits post-April high against dollar on Japan equities drop
2013-06-13 23:04:38 GMT : (Markets - FXMM/Europe)
NEW YORK: The yen rose on Thursday to its strongest levels against the US dollar and euro since the Bank of Japan embarked on an aggressive economic stimulus in April, as a slide in Japanese stocks triggered an unwinding of bets the currency would weaken.Investors, sensing a wavering of the BOJ's commitment to the plan when it failed to announce new stimulative measures earlier this week, sent...
Sterling high as British economy improving
2013-06-12 11:49:07 GMT : (Markets - FXMM/Europe)
LONDON: Sterling rose to a four-and-a-half month high against a trade-weighted basket of currencies on Wednesday after jobs data added to signs of an improving British economy and dimmed the chances of more monetary easing.The pound came just shy of a four-month peak against the dollar and hit a three-week high versus the euro, which helped its trade-weighted index rise to 81.6, its strongest sinc...
Dollar recovers after selloff against yen, euro lower
2013-06-12 11:39:05 GMT : (Markets - FXMM/Europe)
LONDON: The dollar clawed back some lost ground against the yen on Wednesday after a sharp selloff the previous day, though its gains could run out of steam if another bout of weakness hits stock markets.Some doubts on whether the Federal Reserve will pare back its ultra-loose monetary policy later this year weighed on the dollar in early European trade, but traders said investors were buying it a...
Pound hits 4-month trade-weighted high before UK jobs data
2013-06-12 08:10:23 GMT : (Markets - FXMM/Europe)
LONDON: Sterling rose to a four-month high against a basket of currencies on Wednesday after some recent better UK data and before figures that are expected to show another fall in the UK claimant count unemployment.The pound was up 0.1 percent against the dollar at $1.5663, pushing closer to last week's four-month peak of $1.5685. This helped sterling's trade-weighted index to hit a four-...
Dollar gains after US jobs data, yen slips
2013-06-10 10:42:38 GMT : (Markets - FXMM/Europe)
LONDON: The dollar rose against the yen and other major currencies on Monday, extending gains made after Friday's US jobs report left open the prospect of the Federal Reserve scaling back stimulus soon.US employers added a slightly above-forecast 175,000 jobs in May although the unemployment rate edged up. Analysts said a still uncertain US monetary policy outlook left the dollar vulnerable if...
Swiss franc weakens against dollar after US jobs data
2013-06-10 09:49:01 GMT : (Markets - FXMM/Europe)
ZURICH: The Swiss franc was slightly weaker against the dollar on Monday as the greenback added to Friday's gains which followed a better-than-expected US jobs report.The US labour market report on Friday showed 175,000 jobs were created in May, slightly ahead of expectations, though unemployment was up 0.1 percent to 7.6 percent.While positive for the world's largest economy, the figures ...
Sterling slips but prospect of UK recovery to check losses
2013-06-10 09:44:53 GMT : (Markets - FXMM/Europe)
LONDON: Sterling fell on Monday against a dollar buoyed by signs of a recovery in the US jobs market, although traders said the pound's losses were likely to be limited by improving UK data.British economic activity has picked up, reducing expectations that the Bank of England will adopt more aggressive monetary easing when Mark Carney takes over as governor from next month.Sterling was down 0...
Turkish lira, stocks down after PM attacks speculators
2013-06-10 09:40:32 GMT : (Markets - FXMM/Europe)
ISTANBUL: Turkish stocks plunged and the lira weakened on Monday as markets were rattled after Prime Minister Tayyip Erdogan railed against speculators and warned street protesters that his patience had limits.The cost of insuring exposure to Turkish debt rose to the highest since the end of October 2012, according to data from Markit, which showed five-year credit default swaps jumping 8 basis po...
Turkish lira weakens as Erdogan defiant on protests
2013-06-07 06:07:50 GMT : (Markets - FXMM/Europe)
ISTANBUL: The Turkish lira softened to its weakest level against its euro/dollar basket since October 2011 on Friday after Prime Minister Tayyip Erdogan's defiant response to a week of fierce anti-government protests.The currency hit a level of 2.21 in early trade, compared with 2.1780 on Thursday before Erdogan commented on the demonstrations and his plans to redevelop Istanbul's Taksim S...
Dollar tumbles as investors sell bullish bets before jobs data
2013-06-06 23:08:10 GMT : (Markets - FXMM/Europe)
NEW YORK: The dollar fell sharply against the yen and euro on Thursday, hitting levels not seen in months, as investors fretted that upcoming US jobs data would disappoint and prompt the Federal Reserve to keep its hefty monetary stimulus intact.On Friday, the US Labor Department's nonfarm payrolls report will provide insight into the jobs market and offer a clue into how long the Fed plans to...