02092016Tue
Last update: Tue, 09 Feb 2016 02pm

Markets - FXMM

Markets - FXMM - Americas

Dollar tumbles as Dudley comments, US data suggest dovish Fed NEW YORK: The dollar hit its lowest level against the euro since last October and wiped out recent gains against the Japanese yen on Wednesday on growing expectations for a slower pace of Federal Reserve rate hikes this year.The euro rose over 2 percent against the dollar to hit $1.11455, its highest level since Oct. 22, while the greenback fell over 2 percent against the yen to a nearly two-week low of 117.055 yen, erasing Friday's gains against the currency notched after the Bank of Japan shifted to negative rates.The euro was on track to mark its biggest single-day percentage gain since Dec. 3, when a smaller-than-expected stimulus move from the European Central Bank squeezed short bets against the euro and forced a rapid repurchase of the currency. The dollar's decline against the yen was set to be the biggest since Aug. 24.Analysts said the dollar was weighed down by ...


Markets - FXMM - Middle East & Africa

South Africa's rand slightly weaker, eyes US jobs data JOHANNESBURG: South Africa's rand weakened on Wednesday as sentiment toward risky assets remained subdued with rate hikes in the United States beckoning, while mining shares led stocks higher. By 1520 GMT, the rand had slipped 0.31 percent to 16.2700 per dollar, failing to hold on to gains earlier in the session after a rise in oil prices helped soothe the appetite for emerging assets. Bonds were also weaker, with the benchmark paper due in 2026 ...

Markets - FXMM - Europe

Sterling surges to 3-week high on US, UK data signs LONDON: Sterling surged by more than two cents to a three-week high against the dollar on Wednesday as poor US data sent the greenback lower, while British numbers showed Britain's services sector still advancing robustly. The pound took a boost on Tuesday from the release of a draft plan aimed at keeping Britain in the European Union. That, and the solid read from the survey of service sector purchasing managers, have helped spark a revival ...

Markets - FXMM - Europe

Zloty leads gains as Polish central bank meets BUDAPEST/WARSAW: The zloty led a cautious firming of Central European assets on Wednesday ahead of a meeting where the Polish central bank is seen keeping interest rates on hold.Analysts said that last month's zloty fall to a 4-year low past 4.51 against the euro, after Poland's surprise downgrade by S&P, was a strong argument against further rate cuts.The zloty has recovered since as dovish ECB comments and Japanese monetary loosening helped regional assets, and traded ...

Markets - FXMM - Americas

Latam currencies strengthen as oil recovers SAO PAULO: Latin American currencies strengthened on Wednesday as hopes that major oil producers may agree to cut output lifted crude prices.Russian Foreign Minister Sergei Lavrov said if there is consensus among the Organization of the Petroleum Exporting Countries and non-OPEC members to discuss the issue, "then we will meet".Oil prices rose as a result, fostering demand for currencies such as the Mexican peso. Colombia's peso strengthened 0.5 percent, following an almost 2 percent slump ...

Markets - FXMM - Asia

Yen extends gains as oil prices collapse TOKYO: The yen extended its gains in Asia Wednesday and emerging currencies tumbled as traders fled to safe investments on the back of another collapse in oil prices that fuelled fears about the global economy.The plunge in crude to 12-year lows back below $30 has sent shudders through world equity markets, while more weak data on manufacturing out of China and US this week pointed to a sharp slowdown in the two key drivers of ...

Markets - FXMM - Asia

AIA plunges on China capital controls report HONG KONG: Shares in insurance group AIA plunged nearly nine percent in early Hong Kong trade Wednesday after a report said China would clamp down on the purchase of overseas cover.Beijing wants to close a loophole in its capital controls aimed at stemming the outflow of its depreciating yuan currency, as the economy logs its slowest growth in 25 years.China limits the amount of money individuals can move out of the country to $50,000 per ...