Markets - FXMM
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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, if they continue to point to an improving UK economy.But analysts expected gains to be limited, especially against the dollar which has gained broadly recently.Sterling was up 0.2 percent at $1.5204, off a low of $1.5158 hit on Friday when the dollar gained after US Federal Reserve officials called for the central bank to start tapering bond buying under its quantitative easing programme.As well as UK data, focus will centre on Fed Chairman Ben Bernanke's testimony to Congress on Wednesday to see whether ...
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.Copyright Reuters, 2013 
JOHANNESBURG: South Africa's rand fell to a new 4-year low and government bonds were heavily sold on Monday in a market still jittery over the threat of labour unrest in the mining sector.The local unit fell more than 0.7 percent to 9.4720 - its weakest since April 2009 - compared to Friday's close at 9.4025. The yield for the benchmark 2026 bond climbed 11 basis points to a month's high of 6.945 percent.Copyright Reuters, 2013 ...
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, the dollar reached a 4-1/2-year high of 103.32 yen, while ...
TOKYO: The dollar eased in Asia on Monday after a Japanese minister said the recent correction against the yen was nearly over, but analysts said the greenback would soon resume its climb.The dollar was changing hands at 102.69 yen in Tokyo afternoon trade, down from 103.19 yen in New York late Friday but still up from the lower 102-yen range seen before the Tokyo market closed on Friday.The euro was quoted at $1.2841 and 131.86 ...
TORONTO: The Canadian dollar closed weaker against its US counterpart on Friday after touching its softest level in more than two months on inflation data that was both far below expectations and well off the Bank of Canada's target range.Annual inflation fell in April to 0.4 percent from 1.0 percent in March, its lowest level since the 0.1 percent hit in October 2009 and far below the central bank's target range of 1 to 3 ...
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. But an improving UK economy could help it rise against ...More Articles...
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