02082016Mon
Last update: Mon, 08 Feb 2016 03pm

Markets - FXMM

Markets - FXMM - Middle East & Africa

Kenyan shilling steady, seen in tight range NAIROBI: The Kenyan shilling was steady on Friday and traders said they expected it to trade in a tight range with low volumes.At 0742 GMT, commercial banks quoted the shilling at 88.60/70 per dollar, compared with Thursday's close of 88.60/70.Traders said demand for the US currency was balanced by offshore banks sales and a liquidity mop-up by the Central Bank of Kenya on Thursday."I would say yesterday's action by the CBK to mop up excess liquidity in the market, that supported it against any weakening," Kenya Commercial Bank trader Nahashon Mungai said."Plus we have been seeing quite a bit of offshore banks selling dollars as well. So those two factors at the moment are supportive of the shilling."But the shilling could still face weakness due to scant dollar inflows from sectors like tourism."Moving ahead we still expect the greenback to be more bid as importers continue to dominate the market, ...


Markets - FXMM - Middle East & Africa

Ugandan shilling steady, seen weaker as importers seek dollars KAMPALA: The Ugandan shilling was little changed on Friday, and expected to come under pressure next week as demand for dollars from importers begins to pick up. At 0834 GMT commercial banks quoted the shilling at 2,605/2,615, marginally weaker than Thursday's close of 2,603/2,613. Uganda depends on imports for fuel and consumer goods and a surge in shipments typically weakens the shilling. Traders say merchandise retailers and energy sector players are likely to start building ...

Markets - FXMM - Asia

Sri Lankan rupee down marginally on importer dollar demand COLOMBO: The Sri Lankan rupee fell slightly against the dollar on Friday as importer demand for the greenback outpaced inward remittances and selling of the US currency by exporters, dealers said.They said the three-day forward, or spot next, was actively traded. They expect the local currency to remain steady for the rest of the year after central bank Governor Ajith Nivard Cabraal said recently the banking regulator would intervene in the thinly-traded market whenever needed ...

Markets - FXMM - Asia

Dollar hits six-year high against yen in Asia TOKYO: The dollar soared to a near six-year high against the yen Friday on upbeat expectations for US jobs data, while the euro sank after the European Central Bank launched a surprise round of monetary easing.The greenback jumped to 105.69 yen in early Asian trade, its highest level since October 2008, before easing slightly to 105.32 yen. However, it is still above the 105.22 yen seen late in New York.The euro, which fell below $1.30 ...

Markets - FXMM - Europe

Euro hurt, drops to 14-month low after ECB cuts interest rates LONDON: The euro fell broadly to hit a 14-month low against the dollar on Thursday, after the European Central Bank cut interest rates to ward off the threat of deflation, catching many investors by surprise.It also fell towards 21-month lows against the Swiss franc of 1.2053 francs, piling on pressure on the Swiss National Bank to respond by either intervening in the foreign exchange market or by imposing negative rates or lifting its three-year old ...

Markets - FXMM - Americas

C$ gains, near one-week high, on data and ECB move TORONTO: The Canadian dollar firmed to its highest in nearly a week against the greenback on Thursday, rising along with investors' risk appetite after the European Central Bank cut interest rates to record lows to spur growth and thwart a deflation threat.The loonie got an additional boost from data that showed the country's trade surplus jumped in July to a nearly six-year high as exports rose. The report sent the loonie to a fresh session ...

Markets - FXMM - Europe

Euro plunges after ECB cuts rate, announces asset purchases LONDON: The euro slumped to less than $1.30 dollars on Thursday after the European Central Bank surprised markets with a rate cut, and said it would launch an asset-buying programme to ward off deflation.The euro fell to the lowest levels for more than a year against the dollar, down to $1.2996, the lowest since July 15, 2013 and the first time below $1.30 since that date.Copyright AFP (Agence France-Presse), 2014