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Last update: Wed, 31 Aug 2016 03am

Markets - FXMM

Markets - FXMM - Europe

Dollar inches higher ahead of Fed minutes LONDON: The dollar extended its recovery against a basket of currencies on Wednesday after bouncing back from 7-week lows against the yen and euro on the back of hawkish comments from two Federal Reserve officials in the previous session.Dealers said some of the bets on a weaker dollar that have dominated the market for the past week were closed after warnings from New York Fed chief William Dudley and Atlanta colleague Dennis Lockhart's that the U.S. central bank could still raise interest rates in September.That ran in contrast to an academic paper by San Francisco Fed chief John Williams which provoked dollar selling on Monday and early on Tuesday.All eyes are now on minutes from the Fed's last meeting, due later on Wednesday, for clues on how close the bank is to tightening borrowing costs for just the second time since the 2008 financial crash."The communication from the Fed has ...


Markets - FXMM - Asia

Yuan weakens even on stronger midpoint; inflows in focus HONG KONG: China's yuan weakened on Wednesday, on stronger prospects for a US interest rate rise this year and following the approval of a stock link between the Shenzhen and Hong Kong equity markets.The dollar edged off 7-week lows against the yen and euro on Wednesday after hawkish comments from Federal Reserve officials raised the prospect that US rates could rise as early as September. The global dollar index rose to 94.88 from the previous ...

Markets - FXMM - Asia

South Korean won, stocks fall on hawkish comments from Fed officials SEOUL: The South Korean won sharply fell on Wednesday, while shares edged down as markets became jittery after comments from Federal Reserve officials raised the prospects of a rate hike in the United States in September. The won was quoted at 1,108.3 to the dollar at the conclusion of onshore trade, down 1.5 percent from Tuesday's close at 1,092.2.The Korea Composite Stock Price Index (KOSPI) closed down 0.2 percent at 2,043.75 points.Offshore investors bought a ...

Markets - FXMM - Asia

Dollar halts slide on Fed rate hike talk TOKYO: The dollar halted its slide in Asia trade Wednesday after a senior US central banker said overnight that an interest rate raise could come as early as next month.William Dudley, the influential head of the Federal Reserve's New York branch, unexpectedly hinted that a rate hike was possible as early as September.Analysts said the comments from Dudley -- who remarked that Wall Street investors were too "complacent" about the prospect of higher borrowing costs ...

Markets - FXMM - Americas

Dollar lower as US economic data fails to excite NEW YORK: The dollar fell Tuesday against the euro, the yen and the British pound as fresh data out of Washington drew an uneven picture of the US economy.Toward 2100 GMT on Tuesday, the euro at $1.1276, up from $1.1183 on Monday. The dollar fell to 100.30 yen, down from 101.25 and the pound rose to $1.3044, up from $1.2883.The softening of the dollar largely preceded disclosures on Tuesday from the Federal Reserve as well ...

Markets - FXMM - Europe

Assets retreat with world markets despite Czech GDP surprise BUDAPEST/ZAGREB: The forint and the zloty retreated on Tuesday alongside worldwide stock markets, while the euro strengthened.Friday's robust second-quarter economic output figures from Central European states had helped the Hungarian and the Polish currencies, the region's most liquid, rise to four-month highs.Sentiment turned on Tuesday ahead of a batch of US economic data.The figures and hawkish comments from New York Federal Reserve President William Dudley helped the dollar rebound from an 8-week low against the ...

Markets - FXMM - Middle East & Africa

Egyptian pound stable at regular dollar sale, stronger on black market CAIRO: Egypt's central bank held the pound steady against the dollar at its regular foreign currency sale on Tuesday, as the currency strengthened slightly on the black market. The bank sold $118 million at the unchanged rate of 8.78 per dollar. Egypt is facing an acute dollar shortage which saw its foreign reserves fall to $15.5 billion in July, near a critical level that would cover only three months worth of imports. A widening gap ...