01192017Thu
Last update: Thu, 19 Jan 2017 01pm

Markets - FXMM

Markets - FXMM - Europe

Dollar recovers some ground after five days of falls LONDON: The dollar rebounded on Wednesday after falling for five days in a row against its currency basket, as investors awaited a speech by the head of the Federal Reserve later in the day and looked to US inflation data for clues on the path of interest rates. After a volatile Tuesday on which sterling rose more than 3 percent for its best showing against the dollar since at least 1998, currency markets were calmer on Wednesday, with most of the previous day's moves reversing some of their course. Sterling retreated 1 percent.The dollar, which hit a seven-week low of 112.57 yen in early trade in Asia, climbed 0.8 percent to 113.19 yen after seven straight days of falls. The dollar index, which measures it against a basket of six major peers, stood at 100.68, up 0.4 percent, after falling to 100.26 on Tuesday, its lowest since Dec. 8. The ...


Markets - FXMM - Europe

Sterling on course for best day since at least 1998 LONDON: Sterling saw its biggest gains since at least 1998 on Tuesday as Prime Minister Theresa May promised a parliamentary vote on Britain's deal to leave the EU and sought to draw a line under discussion of a "hard" or "soft" Brexit.The pound, already up more than 1 percent as May began a keenly-awaited speech that had been extensively leaked to media, surged 2.8 percent on the day to a 10-day high of $1.2390 in ...

Markets - FXMM - Europe

Turkish banks use 11bn lira from central bank's late liquidity window ANKARA: Turkish banks have used 11 billion lira ($2.91 billion) from the central bank's late liquidity window at 10 percent after it tightened funding taps to try to shore up the currency, central bank data showed on Monday. Price quotations for the Borsa Istanbul repo market were removed earlier on Monday after some funding was provided at 8.5 percent, bankers said.The move meant further liquidity needs would be met through the late liquidity window at ...

Markets - FXMM - Europe

Sterling skids to three-month low as hard Brexit fears bite LONDON: Sterling skidded to its lowest levels - bar a "flash crash" in October - in 32 years on Monday, hit by fears that Prime Minister Theresa May will say on Tuesday that Britain is set for a "hard" Brexit out of the EU and its single market. Sterling fell as much as 1.5 percent against the dollar and 2.5 percent against the yen. That shifted the spotlight away from the greenback, which has come ...

Markets - FXMM - Europe

Sterling flash crash had no single driver, no data to suggest market abuse LONDON: There is little if any data to support suggestions that traders may have deliberately spurred October's flash crash in sterling, a Bank for International Settlements report said on Friday, pointing instead to a range of structural factors. The report from the BIS Markets Committee steered clear of discussing the conduct of individual banks or traders in the 9 percent fall and recovery of the pound over a few minutes around the start of the ...

Markets - FXMM - Asia

Sri Lankan rupee ends lower; central bank sets spot ref rate at record low COLOMBO: The Sri Lankan rupee ended marginally weaker on Friday on importer dollar demand and with the central bank adjusting the spot reference rate to a record low of 150.15 rupees per dollar, dealers said. The rupee has been under pressure due to rising imports and net selling of government securities by foreign investors, they added. Rupee forwards were active, with two-week forwards ended at 150.60/70 per dollar, weaker from Wednesday's close of 150.55/65. "Today, ...

Markets - FXMM - Europe

Turkish lira heads for biggest weekly fall since July coup bid ISTANBUL: Turkey's lira headed on Friday for its biggest weekly fall since the aftermath of a failed coup last July, as the central bank's efforts to tighten liquidity and calls from President Tayyip Erdogan for Turks to sell dollars failed to reassure investors. The lira shed more than one percent against the dollar by 0840 GMT, even after the central bank tried to support the currency for a second day by not opening the one-week ...