06262016Sun
Last update: Sun, 26 Jun 2016 02pm

Markets - FXMM

Markets - FXMM - Americas

Dollar funding costs jump after Brexit vote NEW YORK: The cost for Wall Street to fund dollar-based trades rose on Friday to the highest in nearly three months as Britain's vote to leave the European Union stunned investors, causing reluctance to lend as global stock markets plunged. The interest rate in the $3.8 trillion repurchase agreement market, where traders raise short-term cash from investors by pledging securities as collateral, was last bid at 0.80 percent, which was the highest since 0.85 percent on March 31, according to ICAP. The overnight repo rate was quoted above 1 percent earlier Friday before retreating. On Thursday before the surprise outcome of the U.K. referendum, the repo rate ended at 0.60 percent. The scramble for traders to borrow dollars was also seen in the currency market. The cost premium on three-month cross-currency swap contracts, measured by the three-month London interbank offered rate on dollars over the three-month rate on euros, was ...


Markets - FXMM - Europe

Russian rouble, assets fall after Britain backs Brexit MOSCOW: The Russian rouble fell against the dollar as did Russian stocks on Friday, tracking global markets and the oil price lower after Britain voted to the leave the European Union. The rouble was up slightly against the euro however, and its fall against the dollar was less severe than some emerging market peers. At 0740 GMT, the rouble was 2.4 percent weaker against the dollar at 65.39 but had gained 0.2 percent to 72.51 ...

Markets - FXMM - Europe

Swiss franc cedes ground as SNB confirms FX intervention LONDON: The Swiss franc retreated on Friday from its highest level since last August against the euro, after the Swiss National Bank confirmed it was intervening in the currency market to stem its rise. The franc, treated as a safe-haven currency during times of financial market turmoil, had risen after Britain voted to leave the European Union in a historic decision earlier in the day. The euro recovered to trade 0.6 percent lower on the ...

Markets - FXMM - Asia

China to launch yuan direct trading pair with South Korean won BEIJING: China will establish direct trading pair between the yuan and South Korean won in interbank forex market, the People's Bank of China said in a statement on Friday. Direct trading between the two currencies will help lower foreign exchange costs for companies, the central bank said in a statement on its website.Copyright Reuters, 2016

Markets - FXMM - Middle East & Africa

Uganda shilling falls as Brexit weighs on confidence KAMPALA: The Ugandan shilling weakened on Friday, as global fears over the economic ramifications of Britain's vote to leave the European Union triggered a scramble among commercial banks to beef up their dollar positions. At 0851 GMT, commercial banks quoted the shilling at 3,380/3,390, weaker than Friday's close of 3,365/3,375.Copyright Reuters, 2016

Markets - FXMM - Europe

Yen slips as Japanese policymakers ratchet up intervention rhetoric LONDON: The yen retreated further from more than two-year highs against the dollar on Friday, after Japanese authorities hinted at the possibility of intervention in the currency market. The dollar traded at 103.08 yen, up around 2.8 percent on the day, compared with 102.75 before a slew of comments from senior Japanese officials. Japanese Finance Minister Taro Aso said Prime Minister Shinzo Abe had instructed him to cooperate with the Bank of Japan and closely ...

Markets - FXMM - Americas

Mexico's peso plunges to fresh record low after UK votes to leave EU MEXICO CITY: Mexico's peso hit a fresh record low early on Friday after Britain voted to leave the European Union, forcing the resignation of Prime Minister David Cameron and dealing the biggest blow to the European unity project since World War Two. The peso , one of most liquid emerging market currencies, plunged 7.15 percent to 19.5225 per dollar shortly after midnight local time. The currency, which has slumped more than 10 percent this year, ...