07302016Sat
Last update: Sat, 30 Jul 2016 06pm

Markets - FXMM

Markets - FXMM - Americas

Dollar falls against euro, yen, as policy makers meet WASHINGTON: The US dollar dropped slightly against the euro and the yen on Tuesday, as policy makers in Washington and Tokyo prepared to release decisions on interest rates.At 2100 GMT, the euro bought $1.0986, down from $1.0993 on late Monday despite having gained in early trading.The European currency dropped markedly against the yen, fetching 114.96 yen versus 116.32 yen the day before. The dollar also weakened against the yen, falling to 104.62 from 105.82.The US Federal Reserve is expected not to raise interest rates when a two-day meeting on monetary policy lets out on Wednesday afternoon.Japanese officials are also considering fiscal and monetary stimulus measures, with the Bank of Japan due to meet on Friday."Some of the world's largest yen traders believe the yen will strengthen regardless of the rate decision. And I agree," said Stephen Simonis, chief currency consultant for FXDD Global.The dollar-yen rate "could get below 100 before ...


Markets - FXMM - Americas

C$ gains after touching weakest in nearly 4 months TORONTO: The Canadian dollar gained against the US dollar on Tuesday after touching its lowest level in nearly four months, as currency markets braced for a policy update from the US Federal Reserve.The Canadian dollar ended at C$1.3189 to the greenback, or 75.82 US cents, stronger than the Bank of Canada's official Monday close of C$1.3220, or 75.64 US cents.The currency's weakest intra-day level was C$1.3244, its lowest level since late March."People are getting back ...

Markets - FXMM - Europe

Sterling slips to 2-week low as BoE's Weale turns dovish LONDON: Sterling hit a two-week low on Tuesday after a Bank of England policymaker said a batch of weak UK data would be "very material" for the bank's next policy meeting, having last week said he needed more evidence of economic weakness before backing an interest rate cut.While stopping short of openly backing a cut in interest rates or quantitative easing (QE), Martin Weale said in a Financial Times interview that last week's purchasing managers' ...

Markets - FXMM - Asia

Sri Lankan rupee ends up on bank dollar sales COLOMBO: The Sri Lankan rupee ended firmer on Tuesday as dollar selling by a state-run bank surpassed importer demand for the greenback, dealers said.One-week rupee forwards, which have been acting as a proxy for the spot rupee, ended at 146.10/30 per dollar compared with Monday's close of 146.20/40.The spot rupee is tightly managed by the central bank, and market participants use the forward market levels for guidance on the currency."There was selling by a state ...

Markets - FXMM - Americas

Yen jumps on falling Japanese stimulus expectations NEW YORK: The Japanese yen hit two-week highs against the euro and more than one-week highs against the U.S. dollar on Tuesday as traders dialed back expectations of how much new stimulus authorities will inject into Japan's ailing economy.Most economists surveyed by Reuters expect the Bank of Japan to expand its asset purchases and cut rates further below zero at its two-day meeting that ends on Friday.The government is also compiling a spending package that ...

Markets - FXMM - Americas

C$ hits weakest since March as lower oil, rate divergence weigh TORONTO: The commodity-linked Canadian dollar on Monday hit its weakest level against its US counterpart since March, hurt by a slide in oil prices and the prospect that interest rates will rise faster in the United States than Canada.Traders and strategists said the Canadian currency could face further selling pressure in the short term, especially if the US Federal Reserve strikes a hawkish tone later this week."This market seems quite comfortable being long the US ...

Markets - FXMM - Americas

Dollar weakens against yen before Fed, BoJ meetings NEW YORK: The dollar weakened against the yen on Monday ahead of the US Federal Reserve's meeting on Tuesday and Wednesday, and a Bank of Japan meeting on Friday. The dollar had gained against major currencies in recent weeks as better-than-expected economic data revived expectations that the Fed would raise interest rates again this year. Japanese and European central banks, by contrast, are seen as adopting more stimulative policies to stave off deflation and generate ...