01172017Tue
Last update: Tue, 17 Jan 2017 10pm

Markets - FXMM

Markets - FXMM - Europe

Sterling to slip a little further after EU divorce process starts LONDON: Sterling will slip a touch more against the euro and dollar after Britain begins its official divorce process from the European Union, a Reuters poll found, while identifying risks that the falls could be steeper. The pound has fallen about 17 percent against the dollar since the June 23 vote to leave the EU, trading near $1.24 on Friday, and according to the poll of around 60 foreign exchange strategists surveyed this week it will dip a little further. In a month's time it will be worth $1.22 but at the end of March, by when Prime Minister Theresa May aims to trigger Article 50 which starts the two-year countdown to Brexit, the poll said cable would be at $1.21. "In the wake of the very strong UK data the fact that sterling has lagged other currencies slightly against the dollar suggests politics is dominating," said Colin Asher at ...


Markets - FXMM - Asia

Sri Lankan rupee falls on dollar demand from foreign banks, importers COLOMBO: The Sri Lankan rupee traded weaker on Friday due to dollar buying by foreign banks and importers, but the central bank's moral suasion continued to prevent further decline, days after the monetary authority signalled a change in its intervention policy. Rupee forwards were active, with one-month forwards trading at 151.20/40 per dollar at 0639 GMT, compared with Thursday's close of 151.00/20."Today two-week forwards are trading actively, but we don't see one-week forwards after yesterday's ...

Markets - FXMM - Middle East & Africa

South Africa's rand hits 4-week high, stocks down JOHANNESBURG: South Africa's rand firmed against the dollar on Thursday, touching a four-week high as the greenback lost ground against a basket of currencies after unimpressive US labour data. As the rand strengthened, investors sold off shares in local companies that earn the bulk of their revenues in hard currency -- or rand hedge shares -- amid thin trading volumes, dragging the index lower. Higher platinum and gold prices also offered support to the rand, ...

Markets - FXMM - Americas

Dollar hits 3-week low as US data fails to override yuan surge NEW YORK: The dollar fell to a three-week low against a basket of major currencies on Thursday after US inflation and unemployment data failed to reverse a downtrend that followed some of the biggest gains on record for China's yuan. A rise in overnight borrowing costs in Hong Kong and growth in China's services sector to a 17-month high last month helped put the offshore yuan on pace for the biggest two-day rise since its ...

Markets - FXMM - Asia

Bitcoin nears all-time high as it becomes 'safe haven' asset HONG KONG: Bitcoin neared its all-time high Thursday, with the surging digital currency tipped to become a new safe haven asset as the world grapples with growing economic uncertainty. The unit broke the $1,100 barrier on the Bitcoin Price Index, an average of major exchanges, to continue a dizzying rise that made it the best performing currency of 2016.It has fluctuated wildly since it was created in 2009 and lost three quarters of its value ...

Markets - FXMM - Americas

C$ jumps to near 3-week high amid upbeat global data TORONTO: The Canadian dollar strengthened to a near three-week high against its US counterpart on Wednesday, together with gains for other commodity-linked currencies after upbeat global economic data.A batch of reports from Europe showed that French consumer confidence hit a nine-year high, business activity across the euro zone rose at the fastest pace in more than five years and inflation in the euro zone is its highest in over three years. This followed similarly upbeat ...

Markets - FXMM - Middle East & Africa

South Africa's rand firms as dollar retreats, stocks down JOHANNESBURG: South Africa's rand firmed on Wednesday as the US dollar fell against a basket of currencies, with investors cautious about increasing bets on the greenback before getting fresh clues on the US economy and the timing of interest rate rises.Stocks were hit by heavily weighted rand hedges coming under pressure from a strong currency. At 1500 GMT, the rand traded at 13.6250 per dollar, 1.46 percent firmer from its New York close on Tuesday. ...