05302016Mon
Last update: Mon, 30 May 2016 08am

Markets - FXMM

Markets - FXMM - Europe

Dollar pauses after surge to 3-week high LONDON: The dollar steadied just off its highest since March in European trade on Thursday after a perceived increase in chances of a rise in U.S. interest rates by September drove its biggest daily gain in five weeks.Stronger data, rhetoric from the Federal Reserve and a resulting shift on money markets has revived expectations among hedge funds of a new rally for the U.S. currency, which came within sight of parity with the euro a year ago.Yet in a U.S. election year, with markets suspicious that politics played a role in a slide since February, caution abounds.Many speculative players have been disappointed over the past year by the U.S. currency's failure to rise and the most recent data from last week shows the market overall now betting net on a weaker dollar."A lot of investors even today still want to keep the long dollar position in the portfolio. The reason ...


Markets - FXMM - Europe

Sterling hits 3 1/2-month high on strong retail sales data LONDON: Sterling soared to a 3 1/2-month high against the euro and 10-year gilt yields climbed to their highest in two weeks on Thursday, after data showed retail sales in Britain rose faster than expected in April.Retail sales increased 1.3 percent in April from a month ago, beating forecasts of a 0.5 percent rise, and gaining 4.3 percent on an annual basis. The data may reduce the chances of a rate cut that some in ...

Markets - FXMM - Europe

Dollar pauses after surge to seven-week high LONDON: The dollar steadied at its highest levels since March on Thursday after a perceived increase in chances of a rise in U.S. interest rates by September drove its biggest daily gain against the euro in five weeks.Stronger data, rhetoric from the Federal Reserve and a resulting shift on money markets has revived expectations among hedge funds of a new rally for the U.S. currency, which came within sight of parity with the euro a ...

Markets - FXMM - Middle East & Africa

Tanzania, Uganda shillings to ease, Zambia kwacha to firm  NAIROBI: The Tanzanian and Ugandan shillings are expected to weaken in the week to Thursday, while the Zambian kwacha is expected to gain, traders said.KENYAKenya's shilling is expected to hold steady, with dollar demand from importers and manufacturing companies expected to be countered by prospects of the central bank selling the US currency.At 1201 GMT, commercial banks quoted the shilling at 100.65/75 to the dollar, compared with last Thursday's close of 100.45/65.UGANDAThe Ugandan shilling is ...

Markets - FXMM - Asia

Dollar soars against emerging currencies after Fed minutes TOKYO: The dollar soared against emerging market currencies on Thursday as investors sought safety after minutes showed the Federal Reserve was more likely to raise interest rates than previously believed.Traders moved back into the US currency after the minutes to the Fed's April meeting suggested on Wednesday that a US interest rate hike in June was increasingly likely.The move saw most higher yielding, or riskier, emerging units take a belting against the dollar, with the ...

Markets - FXMM - Americas

Dollar surges on bullish Fed minutes NEW YORK: The dollar jumped Wednesday after the minutes to the Federal Reserve's end-April meeting showed the central bank far more bullish about a possible June rate hike than markets had understood.Markets had dismissed a June rate hike as a 5 percent possibility just last week, but rate derivatives indicated that chance jumped to about 34 percent after the minutes were released.Short-term Treasury bond yields surged and the dollar jumped 0.8 percent to $1.1218 against ...

Markets - FXMM - Middle East & Africa

South Africa's rand regains ground after slipping on slowing CPI, stocks up JOHANNESBURG: South Africa's rand regained ground on Wednesday after tumbling more than 2 percent to within a whisker of the 16.00 mark given the declining chance of a rate hike locally and jitters over the Federal Reserve's next move. Stocks closed slightly higher with rand hedge companies benefiting from the weaker currency. At 1645 GMT the rand was 1.15 percent weaker at 15.7400 per dollar, improved from a session low of 15.9050 as pressure on ...