05062016Fri
Last update: Fri, 06 May 2016 10am

Markets - FXMM

Markets - FXMM - Europe

Sterling heads for strongest week since March 4 LONDON: Sterling was set to rack up its best week since early March on Friday, helped by a handful of polls that have showed solid support for Britain to remain in the EU in June's referendum as US President Barack Obama also weighed into the debate. A poor batch of UK retail sales numbers had put some pressure on the pound on Thursday, pointing again to a weakening of economic activity as firms and consumers brace for the June 23 referendum on Britain's European Union membership. But this week's polls have given a solid lead to the "In" campaign, soothing nerves among investors who worry sterling could sink by as much as a fifth in value against the dollar if Britain votes to leave the 28-nation bloc. A rise in oil prices, with which sterling is closely correlated, also played into the mix, pushing the pound up 0.2 percent to ...


Markets - FXMM - Europe

Yen sinks on potential for Bank of Japan stimulus expansion LONDON: The yen skidded by more than 1 percent to a 2-1/2-week low against the dollar on Friday after a report said that the Bank of Japan is considering expanding its negative rate policy to bank loans and could cut rates further. The BoJ could consider the new step if policymakers decide to lower the negative 0.1 percent interest rate applied to some bank reserves parked with the central bank, Bloomberg reported on its website. ...

Markets - FXMM - Middle East & Africa

Ugandan shilling steady, seen gaining in coming days NAIROBI: The Ugandan shilling held steady on Friday, with month-end inflows and scarce liquidity expected to lend extra support to the local currency next week.At 0937 GMT commercial banks quoted the shilling at 3,305/3,315, unchanged from Thursday's close. "The shilling is likely to extend it's stability ... as the month-end flows are expected to render some support," Alpha Capital Partners said in a market report. Copyright Reuters, 2016

Markets - FXMM - Europe

Serbian assets up before election, zloty hits eight-week low BUDAPEST/BELGRADE: Serbian stocks and the dinar gained on Friday, amid expectations Sunday's elections will keep a reform-minded government in power.Other Central European assets fell, with the zloty plunging to an eight-week low against the euro.The dinar rose 0.1 percent against the euro to 122.82 by 1115 GMT. With a 1.1 percent loss since 2015, it remains the second worst-performing currency in the region this year, after Poland's zloty.The Serbian central bank, which has the highest ...

Markets - FXMM - Middle East & Africa

South Africa's rand flat, seen weakening in risk averse trade JOHANNESBURG: South Africa's rand was mostly flat in early trade on Friday, with analysts expecting it to weaken going into the weekend in an environment of low risk appetite. Stocks opened slightly in the red, with the JSE securities exchange's Top-40 index falling 0.4 percent.At 0702 GMT, the rand traded at 14.3285 versus the dollar, 0.07 percent off Thursday's New York close at 14.3185.Analysts said risk appetite was likely to be depressed ahead of a ...

Markets - FXMM - Asia

Yen dives on report BoJ looking at financial firms support TOKYO: The yen sank Friday on a report that Japan's central bank may take steps to support major financial institutions hit by its shock negative-rate policy.The Bank of Japan was looking at offering negative rates on some loans, Bloomberg News said, citing anonymous sources."This would mean banks can receive money for borrowing from the Bank of Japan," said Masahiro Ichikawa, a senior strategist at Sumitomo Mitsui Asset Management."It's a plus for bank profitability as it ...

Markets - FXMM - Americas

Dollar gains against euro after ECB as focus turns to Fed NEW YORK: The euro reversed to trade lower against the dollar on Thursday after traders looked past a European Central Bank meeting and weighed the potential for a more hawkish Federal Reserve next week, while the yen rebounded on flagging risk appetite.The euro was last down 0.12 percent against the dollar at $1.1280, near a session low of $1.1271, after hitting a nine-day high of $1.1394 on the back of comments from ECB President Mario ...