Archives of Europe

1. Zloty near nine months low

   2013-05-24 11:40:52 GMT : (Markets - FXMM/Europe)

   WARSAW: The Polish zloty hovered near a 10-month low on Friday after weak retail sales data bolstered expectations the central bank will cut interest rates again next month to shore up central Europe's biggest economy.Other currencies in the region were mixed. The Czech crown picked up after its nearly 4 percent slide this year but dealers said it was likely to remain weak in the longer term g...

2. Euro gains as German Ifo damps ECB easing prospects

   2013-05-24 09:51:13 GMT : (Markets - FXMM/Europe)

   LONDON: The euro rose on Friday after a German business sentiment survey beat forecasts, suggesting Europe's largest economy is picking up and lessening prospects of further euro zone monetary easing.The Ifo business climate index rose to 105.7 in May, well above forecasts for 104.5 as it rebounded after two consecutive falls.The euro rose 0.3 percent on the day to a session high of $1.29875, ...

3. Dollar and euro fall by more than 2pc against the yen

   2013-05-23 09:41:14 GMT : (Markets - FXMM/Europe)

   LONDON: The dollar and the euro fell by more than two percent against the yen on Thursday as investors opted for safe-haven currencies on increasing prospects the US Federal Reserve might pare back its stimulus programme.The dollar fell to a near two-week low of 100.83 yen, breaking through stops at 101.25 yen. Traders cited the next support at the 100 yen level.The euro also slipped by more than ...

4. Yen vaults to two-week highs as stocks slide

   2013-05-23 09:30:03 GMT : (Markets - FXMM/Europe)

   LONDON: The yen vaulted to two-week highs against the dollar and the euro on Thursday as a slide in equities encouraged profit-taking on the safe-haven currency's recent sharp falls.Concerns US monetary stimulus could be scaled back, after testimony by Federal Reserve Chairman Ben Bernanke, and weak Chinese data triggered a 7.3 percent plunge in Japan's Nikkei share index, its biggest one-...

5. Swiss franc hits 2-year low against euro after Jordan comments

   2013-05-22 10:17:34 GMT : (Markets - FXMM/Europe)

   LONDON: The Swiss franc fell to its lowest in two years against the euro on Wednesday after Swiss National Bank chief Thomas Jordan did not rule out negative interest rates and said policymakers could adjust the currency cap if necessary.The euro rose to 1.2588 francs on trading platform EBS , its highest since May 2011, and up 0.4 percent on the day. The SNB imposed the currency cap of 1.20 franc...

6. Dollar resumes upward march

   2013-05-21 12:19:22 GMT : (Markets - FXMM/Europe)

   LONDON: The dollar rose against the yen on Tuesday after a minister rowed back on remarks suggesting the Japanese currency had weakened enough, but gains were capped before testimony from the head of the US central bank.Speculation the Federal Reserve will trim its bond purchases sooner than expected has mounted given signs of an improvement in the US labour market. Chairman Ben Bernanke testifies...

7. Sterling falls, UK gilts rise after inflation data

   2013-05-21 10:00:29 GMT : (Markets - FXMM/Europe)

   LONDON: Sterling fell and gilts rose on Wednesday after Britain's April inflation rate undershot expectations.Sterling fell to $1.5184 from $1.5212 as the data was perceived by traders as giving incoming Bank of England chief Mark Carney more room to ease monetary policy later in the year. The euro rose to 84.675 from 84.58 pence.British June government bond futures extended gains by almost 20...

8. Dollar firms as Fed suspense builds, shares off highs

   2013-05-21 09:12:34 GMT : (Markets - FXMM/Europe)

   LONDON: The dollar edged up, gold steadied and European shares held near five-year highs on Tuesday as investors look out for US Federal Reserve signals on the future of its stimulus programme.Upbeat comments from Chicago policymaker Charles Evans have made Wednesday's release of minutes of the US central bank's last meeting and Fed chairman Ben Bernanke's testimony in Congress the sam...

9. Sterling climbs off 6 week low vs dollar

   2013-05-20 16:20:55 GMT : (Markets - FXMM/Europe)

   LONDON: Sterling recovered from a six-week low against the dollar on Monday as the US currency dipped after recent strong gains, but it was still vulnerable to signs the US central bank may scale back monetary stimulus.The pound could be lifted by Bank of England minutes on Wednesday and a string of UK data this week, including retail sales and revised first quarter gross domestic product figures,...

10. Poland swapped 6.5bn euros into zlotys on spot market in 2012

    2013-05-20 15:58:30 GMT : (Markets - FXMM/Europe)

    WARSAW: Poland's finance ministry exchanged an equivalent of 6.5 billion euros ($8.3 billion) of funds denominated in foreign currency into zlotys on the open market last year, it said in a statement on Monday.In recent years, Poland has swapped European Union funds via state-owned lender BGK into local currency to prop up the zloty, keeping down the value of its foreign-denominated debt.Copyr...

11. Yen edges up on minister's comments, could dip again

    2013-05-20 09:52:25 GMT : (Markets - FXMM/Europe)

    LONDON: The yen rose from a 4-1/2-year low against the dollar on Monday after Japan's economy minister suggested the country's currency might have weakened enough, leading some investors to cut hefty bets against it.The dollar fell 0.6 percent to 102.55 yen, having slid about 1 percent to 102 in the Asian session. The euro lost 0.5 percent to 131.85 yen after plumbing 131.045. Last Friday,...

12. Sterling falls versus dollar on talk of Fed reducing stimulus

    2013-05-17 14:26:46 GMT : (Markets - FXMM/Europe)

    LONDON: Sterling fell to a six-week low against a broadly firmer dollar on Friday on growing expectations the US Federal Reserve could soon start to scale back monetary stimulus after recent comments from Fed officials.Analysts expected the pound to stay weak against the dollar, especially given concerns incoming Bank of England head Mark Carney could ease policy when he takes up the post in July....

13. Dollar rises on prospect of Fed tightening

    2013-05-16 14:51:40 GMT : (Markets - FXMM/Europe)

    LONDON: The dollar was near a six-week high against the euro and a 4-1/2 year peak against the yen on Thursday on expectations of scaled back asset buying in the United States and more monetary easing in the euro zone.Falling prices in Germany and France highlighted the risk of deflation in the euro zone as the region slips into recession, whcih could increase the risk of more European Central Ban...

14. Turkish lira eases ahead of central bank rate decision

    2013-05-16 09:45:05 GMT : (Markets - FXMM/Europe)

    ISTANBUL: The Turkish lira extended losses on Thursday before a monetary policy committee meeting when the central bank was expected to cut its key interest rates.A Reuters poll forecast the bank would lower its benchmark policy rate, overnight borrowing and lending rates by 50 basis points to guard against future lira appreciation and to boost economic growth.A decision is due at 1200 GMT."After ...

15. Swiss franc down vs dollar pressured by weak Europe

    2013-05-16 08:55:04 GMT : (Markets - FXMM/Europe)

    ZURICH: The Swiss franc fell against the dollar and the euro on Thursday as dour economic data in the euro zone dampened sentiment for the single-currency.The franc fell to a four-month low past 1.25 against the euro on Wednesday hurt by recent benign Swiss inflation and waning safe-haven inflows before later paring losses.On Thursday, it slipped 0.2 percent against the single currency compared to...

16. Dollar rises on prospect of Fed tightening and ECB easing

    2013-05-16 08:45:20 GMT : (Markets - FXMM/Europe)

    LONDON: The dollar was near a six-week high against the euro and a 4-1/2 year peak against the yen on Thursday on prospects for more monetary easing in the euro zone and scaled back asset buying in the United States.Final euro zone inflation data for April due at 0900 GMT is expected to be weak, reinforcing expectations the European Central Bank could cut interest rates, with the potential for it ...

17. Dollar higher, yen slips again after G7 meeting

    2013-05-13 22:13:38 GMT : (Markets - FXMM/Europe)

    NEW YORK: The US dollar edged higher Monday following last week's strong gains and the yen slipped again after G7 finance chiefs reiterated over the weekend their pledge against competitive devaluations.At 2100 GMT, the euro traded at $1.2975, compared to $1.2992 late Friday, holding in a narrow range during a day with little news to move trade.The dollar picked up to 101.82 yen from 101.59, b...

18. Dollar-Yen could snake towards 105 within a month

    2013-05-13 12:48:07 GMT : (Markets - FXMM/Europe)

    LONDON: There is every reason for the Japanese yen's slide against the dollar to continue even with the exchange rate above 101 yen but it may be a gradual slither rather than a straight line move.The severity of Thursday's break above 100 yen to the dollar was exaggerated as many traders had squared up previously-held positions given that the greenback had repeatedly failed to breach the ...

19. Sterling gains against euro after ECB's Visco rate comments

    2013-05-13 09:59:47 GMT : (Markets - FXMM/Europe)

    LONDON: Sterling rose against the euro on Monday, after a senior European Central Bank policymaker said a cut in euro deposit rates to negative could be considered if the euro zone economy deteriorated.A cut in the deposit rate - the rate at which the banks park their excess funds with the ECB, currently at zero - to negative could make holding euros less attractive to most investors and lead to a...

20. Yen drops further as G7 avoids criticising Japan

    2013-05-13 09:58:53 GMT : (Markets - FXMM/Europe)

    LONDON: The yen suffered fresh losses on Monday after Group of Seven finance officials avoided direct criticism of Japan's monetary policy, which has pushed its currency to four-year lows.The euro also fell against a firmer dollar after European Central Bank policymaker Ignazio Visco said the central bank may opt for a negative deposit rate. This contrasted with expectations the US Federal Res...