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Last update: Sun, 25 Sep 2016 10am

Markets - FXMM

Markets - FXMM - Americas

Dollar rebounds after slide, oil retreats NEW YORK: The US dollar rose on Wednesday, rebounding after its worst day in more than a year, while a retreat in oil prices pressured energy shares and put Wall Street stocks in negative territory.Asset classes largely digested big moves that were recorded in the previous session, when the new Greek government dropped calls for a write-down of its foreign debt, easing concerns about growing instability in the euro zone. The news resulted in a sharp rally for both stocks and oil, while the U.S. dollar and bonds fell.U.S. crude futures, which rose almost 20 percent over the previous four session, were down 4.3 percent on Wednesday. Brent crude fell 3 percent to $56.16 per barrel. The S&P Energy index fell 1.5 percent, by far the worst-performing group among S&P sectors."Oil has been the big driver. We have seen oil moving strongly since last Friday and certainly the energy sector ...


Markets - FXMM - Europe

Turkish lira hits record low as Erdogan criticises central bank ISTANBUL: The Turkish lira hit a fresh record low at 2.4485 against the dollar on Wednesday, as the currency extended losses following President Tayyip Erdogan's criticism of the central bank's policies and independence.The lira traded at 2.4440 by 1557 GMT versus 2.4210 earlier.Copyright Reuters, 2015

Markets - FXMM - Americas

Dollar recovers on fading Greece hopes, long-term prospects NEW YORK: The US dollar recovered against a basket of major currencies on Wednesday, a day after posting its worst one-day loss in over a year, as a lack of progress on a Greek debt deal hurt the euro and as belief in the dollar's longer-term strength returned.With the lack of movement on Greece's plans to secure a new debt agreement, traders stepped in to buy the dollar on the view that Tuesday's greenback selloff ...

Markets - FXMM - Middle East & Africa

South Africa's rand on firmer footing as global risk appetite improves JOHANNESBURG: The South African rand hovered near the previous session's two-week highs against the dollar on Wednesday, benefiting mainly from an upswing in global risk appetite.At 0640 the local unit traded at 11.3840 to the greenback, barely off Tuesday's closing level of 11.3720.The rand had climbed more than 1 percent to 11.3650 the previous day, its strongest since Jan. 22, as recent interest rate cuts by some central banks, the latest being Australia's Reserve Bank, ...

Markets - FXMM - Middle East & Africa

Kenyan shilling firm on tight local currency liquidity NAIROBI: Kenya's shilling held firm on Wednesday morning, helped by tight local currency liquidity and weak demand for dollars from importers and other companies.By 0658 GMT, the shilling was trading at 91.55/65, unchanged from Tuesday's close."Lack of demand from corporates and tight liquidity are helping the shilling," said Sheikh Mehran, head of trading at I&M Bank.Corporate demand for dollars tends to rise towards the end of month, while last week's bond and treasury bill sales ...

Markets - FXMM - Europe

Dollar recovers after posting largest fall in more than a year LONDON: The dollar index rebounded on Wednesday, after suffering its biggest one-day fall in over a year, helped by a jump in Treasury yields and expectations for upbeat U.S. economic data later in the day.The New Zealand dollar was one of the biggest movers, rising more than 1 percent and bouncing from recent four-year lows, after central bank Governor Graeme Wheeler disappointed investors who expected a dovish tone.While some other central banks including Australia have ...

Markets - FXMM - Europe

Sterling inches higher as UK data shows strong start to 2015 LONDON: Sterling edged up against the dollar on Wednesday, extending the previous day's strong gains after data showed Britain's services sector expanded faster than expected in January, pointing to robust economic growth.The UK Services Purchasing Managers' Index (PMI) reading of 57.2 topped all forecasts in a Reuters poll and suggested the economy is growing at a rate slightly above the 0.5 percent it managed in the final three months of 2014.Earlier in the week, PMI ...