01222017Sun
Last update: Sun, 22 Jan 2017 03pm

Markets - FXMM

Markets - FXMM - Europe

Trump policy vacuum sends dollar skidding lower LONDON: The dollar sank to a five-week low below 114 yen on Thursday and was on course for its worst week since November, hit by a loss of confidence in the U.S. reflation trade which has dominated markets since Donald Trump's election.Speculators had driven the dollar higher on Wednesday in expectation that Trump's first news conference since his victory on Nov. 8 would give more detail on new fiscal spending and tax measures to repatriate U.S. corporate capital held overseas.Instead, the event was dominated by debate over Russian hacking and unsubstantiated claims that he had in the past been caught in a compromising position in Moscow. U.S. Treasury yields fell to their lowest since November in early deals in Europe on Friday."For the moment I would stop short of drawing broader conclusions. I think he will still implement his policy platform," said Lee Hardman, a currency economist with Japan's MUFG ...


Markets - FXMM - Europe

Dollar surge, political nerves send sterling to 3-month low LONDON: Sterling hit a three-month low against the dollar on Wednesday, as a renewed surge by the US currency compounded a lengthening list of political strains weighing on the pound. As well as fears of a messy divorce from the European Union, the threat of Scotland breaking away has re-emerged for the pound this week as well as a collapse of Northern Ireland's decade-long power-sharing government.Sterling spent the day in the red after lacklustre trade ...

Markets - FXMM - Americas

C$ slightly weaker as all eyes on Trump TORONTO: The Canadian dollar weakened slightly against its US counterpart early on Wednesday, with investors bracing for clues about US President-elect Donald Trump's likely trade, tax and fiscal policy direction at a morning news conference.The loonie, as the currency is colloquially known, has settled at the strong end of a recent range in the last few trading sessions.At 8:49 a.m. ET (1349 GMT), the Canadian dollar was trading at C$1.3235 to the greenback, or 75.56 ...

Markets - FXMM - Europe

Brexit-shaken sterling hits 11-week low despite firm data LONDON: Data suggesting the British economy kept its momentum at the end of 2016 despite June's Brexit vote could not support sterling on Wednesday as worries over a "hard" departure from the EU sent it to an 11-week low. Numbers showed industrial output rose 2.1 percent in November, recovering from a 1.1 percent drop in October and beating expectations for a 0.8 percent jump. But despite initially inching higher on the data, the pound quickly ...

Markets - FXMM - Europe

Turkey lira under new pressure as bank measures fail to impress ISTANBUL: Turkey's embattled lira on Wednesday took a new pounding on foreign exchange markets as emergency measures announced by the central bank failed to impress markets rattled by terror attacks and political instability.The lira has lost almost 10 percent in value against the American dollar since the start of this year alone with President Recep Tayyip Erdogan's plan for a presidential system, currently debated by parliament, unnerving investors.The lira lost 1.15 percent against the dollar ...

Markets - FXMM - Americas

C$ strengthens as oil rises, housing starts jump TORONTO: The Canadian dollar edged higher against its US counterpart on Tuesday as oil rose and stronger-than-expected domestic housing starts suggested the country's long housing boom may not yet be over.Housing starts rose to a seasonally adjusted annual rate of 207,041 units in December from an upwardly revised 187,273 units in November, the Canada Mortgage and Housing Corp said. Economists polled by Reuters had expected starts to rise to a 195,000 unit pace.Prices of oil, ...

Markets - FXMM - Europe

Turkish lira tumbles to fresh lows as stability worries weigh ISTANBUL: The Turkish lira slumped to new lows on Tuesday, passing 4.0 to the euro for the first time and extending a slide since the start of the year, as a deputy prime minister repeated a warning that the economy was under attack. Islamic State and Kurdish militant bombings, an economic slowdown and political uncertainty over plans to bolster President Tayyip Erdogan's powers have all unsettled investors. The central bank's reluctance to hike interest rates ...