07022016Sat
Last update: Sat, 02 Jul 2016 03am

Markets - FXMM

Markets - FXMM - Europe

Sterling claws back some ground after hitting 31-year low LONDON: Sterling clawed back some ground against the dollar and euro on Tuesday but in the context of an historic 11-percent fall after Britons voted last week to leave the EU, analysts said this was merely a pause rather than the start of any upward trend.The pound's rise, more than 1 percent at one point, would under normal market conditions be considered a decent rebound, but the move seemed modest, given that Thursday's Brexit referendum triggered the currency's biggest fall in modern history, to a 31-year low.Sterling fell about 7 percent on Friday alone - its biggest one-day fall in the post-1973 floating-exchange-rate era. On Tuesday, the highest it hit in morning trade was $1.3373 , still almost 17 cents lower than where it was trading before the referendum results started to be announced.Ratings agencies S&P and Fitch both downgraded Britain's sovereign credit standing on Monday, judging Brexit would hurt ...


Markets - FXMM - Middle East & Africa

South Africa's rand resumes plunge, stocks lower as Brexit wrongfoots risk assets JOHANNESBURG: South Africa's rand fell as much as 3 percent against the dollar on Monday as the effects of Britain's vote to leave the European Union continued to weigh on global risk demand, while stocks also suffered. By 1545 GMT the rand had slipped 2.45 percent to 15.4580 per dollar, erasing most of the recovery that had seen the unit close at 15.0890 in New York on Friday. The rand had tumbled more than 8 ...

Markets - FXMM - Asia

Sri Lankan rupee forwards fall as dollar strengthens on Brexit  COLOMBO: Sri Lankan rupee one-week forwards ended weaker on Monday due to a stronger dollar after Britons voted to leave the European Union last week, but the losses were capped as a state-run bank sold the greenback, dealers said.Sterling stayed under siege, holding above a 31-year low against the dollar, with sentiment distinctly sour after Britain opted to exit the EU, triggering shockwaves across global markets.The dollar index, which tracks the greenback against six major ...

Markets - FXMM - Europe

Pound slumps to more than 30 year low against dollar LONDON: The pound tumbled Monday to the lowest level in almost 31 years on economic and political uncertainty after Britain voted last week to leave the European Union.At about 0955 GMT, sterling slumped to $1.3222 -- the lowest level since September 1985 -- having rebounded slightly after a similar trough was struck on Friday.Copyright AFP (Agence France-Presse), 2016

Markets - FXMM - Asia

Asia FX weakens in Brexit wake; rate cuts expected if exports suffer SINGAPORE: Most emerging Asian currencies extended losses on Monday on speculation that regional central banks may end up cutting interest rates to offset potential damage to exports arising from Britain's decision to leave the European Union.Regional currencies, however, pared some of their earlier losses as caution grew over possible intervention by monetary authorities to support them.China's yuan slumped to its weakest level in 5-1/2 years as the central bank weakened the official midpoint the most ...

Markets - FXMM - Asia

South Korean won pares loss, stocks change course as Brexit impact eases SEOUL: The South Korean won and shares pared earlier losses near the end of Monday's session as market pressures from Brexit eased a little although uncertainty still lingered.The won was quoted at 1,182.3 to the dollar at the conclusion of onshore trade, down 0.2 percent compared to Friday's close of 1,179.9.The Korea Composite Stock Price Index (KOSPI) reversed into positive territory, closing up 0.1 percent at 1,926.85 points.Domestic institutions largely supported the main board by ...

Markets - FXMM - Middle East & Africa

South Africa's rand falls as Brexit aftershocks weigh JOHANNESBURG: South Africa's rand weakened against the dollar in early trade on Monday as investors' appetite for risk took a hit from Britain's vote to leave the European Union.At 0642 GMT, the rand traded at 15.1800 versus the dollar, 0.6 percent weaker from its New York close on Friday. It had weakened more than 1 percent earlier in the session."Markets remain cautious and are likely to remain so for a significant period of time as ...