06282016Tue
Last update: Tue, 28 Jun 2016 11pm

Markets - FXMM

Markets - FXMM - Asia

Pound besieged, euro falls as Brexit shock lingers TOKYO: The pound remained under siege on Monday, sliding back toward a 31-year low, reflecting the deeply bearish mood of investors after Britain opted to exit the European Union, triggering shockwaves across global markets.The euro was also under pressure, pulled down by sterling, as Brexit clouded the future of the European Union.Sterling was down 2.3 percent at $1.3381, within shot of $1.3228 plumbed on Friday, its lowest since 1985. The pound dropped as much as 11 percent on Friday as positions betting on Britain remaining in the EU were reversed en masse.The impact from Brexit - which also generated much turmoil in global equity, commodity and bond markets - was expected to grow due to its likely negative effect on the European economic and political landscape."The focus now falls on Europe, where Brexit could cause a domino effect of states wanting to leave the union. While this has already been ...


Markets - FXMM - Asia

South Korea won reverses to 3-week low, stocks edge down on risk-aversion SEOUL: The South Korean won and shares sagged early on Monday as Britain's decision to leave theEuropean Union sparked strong appetite for safe-haven assets globally.The won was quoted at 1,186.6 to the dollar as of 0219 GMT, down 0.6 percent versus the previous close of 1,179.9. The currency opened higher, but then quickly changed course.The Korea Composite Stock Price Index (KOSPI) was down 0.5 percent at 1,915.53 points. The index dropped as low as 1,900.83, ...

Markets - FXMM - Australia

Australia, NZ dollars steadier as some semblance of calm returns SYDNEY/WELLINGTON: The Australian and New Zealand dollars stayed defensive on Monday but without the stomach-churning volatility seen late last week after Britain stunned global markets by voting to leave the European Union.The Australian dollar hovered just above 74 U.S. cents in early afternoon trade, having moved in a 3/4 cent range of $0.7385-$0.7460. On Friday, it whipsawed in a 3-1/2 cent range of $0.7305-$0.7650.The New Zealand dollar last stood at $0.7050, having also traded in ...

Markets - FXMM - Asia

China's yuan weakens to 5-1/2 low as central bank tolerates depreciation  SHANGHAI: China's yuan tumbled to 5-1/2 year low versus the dollar on Monday as the central bank tolerated the Chinese currency's weakening after the Brexit by setting a sharply weaker midpoint and refraining from intervening in trading, traders said.The People's Bank of China (PBOC) weakened the official midpoint the most since August 2015 when China shocked the global markets by allowing the yuan to weaken almost 2 percent overnight.State-owned banks, who often intervene in trading ...

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 ...

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 ...