09302016Fri
Last update: Fri, 30 Sep 2016 04pm

Markets - FXMM

Markets - FXMM - Europe

Sterling in worst run of quarterly losses since 1984 LONDON: Sterling stayed below $1.30 on Friday and was on track for a fifth consecutive quarter of losses - the currency's worst run since 1984. The pound plunged to a 31-year low after Britain voted to leave the European Union, falling as low as $1.28 early in the third quarter, having already weakened in the run-up to the June referendum on worries about its outcome.Sterling is now trading more than 40 US cents - or 25 percent - lower than the six-year highs it reached in mid-2014, as expectations for the Bank of England to hike interest rates have dried up.Last month the BoE cut its key interest rate to another record low and relaunched an asset-purchase programme in an effort to cushion the blow dealt by the vote for Brexit, and some expect it to ease policy again before the end of the year.Data showing Britain's giant services sector ...


Markets - FXMM - Asia

Sri Lankan rupee edges up as tight liquidity prompts dollar sales COLOMBO: The Sri Lankan rupee traded slightly firmer on Friday, after four straight sessions of losses, as tight rupee liquidity triggered dollar sales by some banks, dealers said. The spot rupee was at 146.75/90 per dollar at 0556 GMT, compared with Thursday's close of 146.90/147.00.The rupee has fallen 0.58 percent so far this week."A few banks are selling dollars due tight rupee liquidity following yesterday's bond auction," a currency dealer said asking not to be ...

Markets - FXMM - Asia

Dollar up as Deutsche Bank woes spark run to safety TOKYO: The dollar rose Friday as Deutsche Bank's woes sparked buying of safer currencies while a US economy upgrade boosted expectations for a rate hike.Markets were spooked by a report that several hedge funds had withdrawn their investments in Germany's biggest lender over worries about its viability. Those fears come after US authorities slapped the bank with a $14 billion penalty over its sale of mortgage-backed securities prior to the 2008 financial crisis.There are growing ...

Markets - FXMM - Americas

Dollar falls against franc, pares gains vs yen on Deutsche Bank concerns NEW YORK: The US dollar hit a more than one-month low against the Swiss franc and trimmed gains against the yen on Thursday on concerns over Deutsche Bank, while increased expectations for a December Federal Reserve rate hike kept the greenback generally afloat. The franc and the yen, which are perceived to be safe-havens, benefited from the worries surrounding Germany's biggest lender. US-listed shares of Deutsche Bank, which is fighting a $14 billion US demand ...

Markets - FXMM - Americas

C$ weakens from near 1-week high, buoyed by OPEC deal TORONTO: The Canadian dollar fell back from a nearly one-week high against its US counterpart on Thursday as the buzz from a deal between major oil producers to limit output wore off and investors fretted about the health of Deutsche Bank.The slip for the loonie followed a 0.7 percent advance on Wednesday, its biggest in nearly four weeks, after the Organization of the Petroleum Exporting Countries agreed to limit crude output at its policy meeting ...

Markets - FXMM - Americas

C$ strengthens to nearly 1-week high, buoyed by OPEC deal TORONTO: The Canadian dollar strengthened to a nearly one-week high against its US counterpart on Thursday, buoyed by a deal by major oil producers to limit output.Gains for the loonie followed a 0.7 percent advance on Wednesday, its biggest in nearly four weeks, after the Organization of the Petroleum Exporting Countries agreed to limit crude output at its policy meeting in November.Oil prices stabilized as investors questioned whether the agreement to curb production would be ...

Markets - FXMM - Middle East & Africa

Nigerian naira hits new low as dollar shortage persists LAGOS: Nigeria's naira tumbled more than five percent to another record low against the dollar on the black market on Thursday, as a dollar shortage persisted.Low prices for oil, the country's top foreign currency earner, have drained the country's forex reserves, which hit an 11-year-low of $24.61 billion on Tuesday. "Dollar is very scarce in the market right now because many people don't know how low it will fall in the near term, so people ...