07252016Mon
Last update: Mon, 25 Jul 2016 01am

Markets - FXMM

Markets - FXMM - Europe

Sterling bounces back as markets cheer May appointment LONDON: Sterling rose along with UK government bond yields on Tuesday as the early anointing of interior affairs minister Theresa May as prime minister fed into a generally improved global mood among financial investors.The 1.2 percent rise in the pound against the dollar put it on track for its biggest daily rise since Britain's vote to leave the European Union on June 23 drove sterling to 31-year lows.The pound also gained half a percent to a one week high of 84.57 pence per euro, extending gains on Monday after the withdrawal of leading Brexit campaigner Andrea Leadsom cleared the way for May's formal appointment this week."Clarity on the UK's leadership was another factor boosting investors' appetite," analysts from retail brokerage FXTM said in a morning note."However, the big question remains as to when Article 50 is going to be triggered, and how investors are going to react to UK's official ...


Markets - FXMM - Asia

Dollar near 1-week high vs yen on Japan stimulus hopes TOKYO: The yen hovered near a one-week low against the dollar on Tuesday, in the wake of a weekend election victory by Japan's ruling coalition that fanned expectations of more economic stimulus including possible monetary easing.Gains in equity markets and an improvement in risk sentiment also weighed on the safe-haven yen, which rallied after Britain's vote to leave the European Union and adding to worries over global growth.The dollar eased 0.3 percent to 102.53 yen, ...

Markets - FXMM - Australia

Australia, NZ dollar slightly higher after losing ground overnight WELLINGTON: The Australian and New Zealand dollars were slightly higher Tuesday, paring some overnight losses after the greenback gained ground.The Australian dollar was at 0.7568 while the New Zealand dollar was at 0.7255, still well off the one-year highs it hit Monday.The Kiwi faced strong resistance around the 0.7300 level after rallying over the weekend due to a Reserve Bank of New Zealand speech alluding to concerns about rising house prices being a possible reason ...

Markets - FXMM - Asia

Yen sags as Japan stimulus hopes bolster risk sentiment TOKYO: The yen hit a one-week low versus the dollar on Tuesday, after a weekend election victory by Japan's ruling coalition fanned expectations of more economic stimulus and bolstered risk sentiment.Gains in equity markets helped spur selling of the yen, which had risen recently on safe haven demand after Britain's vote to leave the European Union added to worries over global growth.The dollar rose 0.3 percent to 103.05 yen and touched a high of 103.29 ...

Markets - FXMM - Asia

China's yuan firms, defying weakest midpoint since Oct 2010  SHANGHAI: China's yuan edged up against the dollar on Tuesday after traders rushed to take profits on the long dollar positions they built overnight, shrugging off the weakest midpoint the central bank has fixed since October 2010.The yuan hovered around its 5-1/2 year low of 6.6980 set last Wednesday with traders saying the yuan might weaken to 6.7 any time soon, but the central bank was seen intervening in the market on Monday, controlling the ...

Markets - FXMM - Asia

Yen slumps on Japan stimulus speculation TOKYO: The yen slumped Tuesday on expectations that Tokyo is drawing up a fresh round of huge stimulus to kickstart the torpid Japanese economy.After his ruling coalition swept weekend parliamentary elections, Japanese Prime Minister Shinzo Abe said the government would unveil measures to kickstart growth, which local media said could be worth trillions of yen.Speculation that Japan's central bank may move at its meeting later this month also weighed on the yen, which fell against ...

Markets - FXMM - Europe

Sterling rises on Leadsom speculation, trades above $1.29 LONDON: Sterling turned higher on Monday, on reports that Andrea Leadsom, one of the two candidates from the ruling Conservative Party to succeed Prime Minister David Cameron, is due to make a statement at 1115 GMT.Traders said there was talk she might withdraw from a leadership contest due to be decided by Sept. 9 leaving the door open for Interior Minister Theresa May, who was in the "Remain" camp during the Brexit vote, as the ...