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Markets - FXMM

Markets - FXMM - Europe

Russian rouble shrugs off oil volatility as dividends support MOSCOW: The Russian rouble strengthened on Thursday, supported by companies' accumulation of roubles for dividend payments and shrugging off a plunge in the oil price on Wednesday.At 0800 GMT, the rouble was 0.4 percent stronger against the dollar at 63.59 and had gained 0.3 percent to 70.57 versus the euro.Brent crude oil, a global benchmark for Russia's main export, was up 0.6 percent at $46.6 a barrel, after sliding by almost 5 percent on Wednesday, in turn reversing gains of a similar magnitude on Tuesday.Despite these oil price gyrations the rouble has been relatively stable, which analysts said showed that the forex market has found an equilibrium based on the need for companies to accumulate roubles for approaching dividend payments."We can talk about a balance of supply and demand in the context of dividend payments, which was found precisely in the region of 64 roubles per dollar," Instaforex analyst Igor ...


Markets - FXMM - Asia

Yen gives up gains, sterling pushes higher ahead of BoE meeting TOKYO: The yen surrendered its early gains in Asia on Thursday, while sterling pushed higher but remained capped ahead of a Bank of England meeting that is expected to deliver an easing to blunt the economic fallout of Britain's vote to leave the European Union.The BoE is expected to announce a cut to its benchmark interest rate to a record low of 0.25 percent from 0.5 percent when its makes its monthly policy statement at ...

Markets - FXMM - Australia

Australian dollar boosted by jobs news, NZ$ hit by rate cut talk SYDNEY/WELLINGTON: The Australian dollar inched higher on Thursday after domestic data showed an encouraging jump in full-time jobs, while its New Zealand neighbour slipped on revived speculation of an interest rate cut.The Australian dollar was up at $0.7616, from $0.7590 late Wednesday, but again failed to clear resistance in the $0.7640/50 zone.Sentiment was aided by data showing a hefty 34,800 full-time jobs were created in June, outweighing a modest 7,900 increase in total employment.Yet the ...

Markets - FXMM - Asia

BoE stimulus views lift Asia; ringgit hits 10-week high after rate cut SINGAPORE: Most emerging Asian currencies extended gains on Thursday on expectations that the Bank of England will cut interest rates later in the day, joining a fresh global wave of stimulus and further improving investors' appetite for riskier assets.Malaysia's ringgit hit a 10-week high as the government bond prices extended gains after the central bank's surprise interest rate cut on Wednesday.The South Korean won also touched its strongest level in more than 10 weeks after ...

Markets - FXMM - Asia

Sri Lankan rupee rises on dollar selling by foreign banks COLOMBO: The Sri Lankan rupee rose on Thursday as foreign banks sold dollars on behalf of investors keen to buy local bonds amid hopes the local currency would rise slightly following $1.5 billion inflows from a sovereign bond issue, dealers said.Sri Lanka raised $1.5 billion in its first sale of dual-tranche eurobonds on Monday, although at a lower borrowing cost than initially expected, as yield-hungry global investors put in over $5.5 billion in offers.Earlier this ...

Markets - FXMM - Asia

Pound up ahead of BoE's first post-Brexit meeting TOKYO: The pound rose Thursday ahead of a meeting of the Bank of England as it mulls an interest rate cut to counter the fallout from Britain's vote to exit the European Union.Sterling picked up to $1.3223 from $1.3144 in New York as markets await the outcome of the central bank's first meeting since last month's referendum.The shock decision to exit the 28-member bloc led BoE chief Mark Carney to say "some monetary policy easing ...

Markets - FXMM - Europe

Serbia's central bank buys euros to stem dinar gains BELGRADE: Serbia's central bank purchased euros on Wednesday to rein in dinar gains due to increased demand for the local currency and low liquidity in the interbank market, dealers said. The central bank, which a day earlier purchased 40 million euros, started buying the common currency as the dinar traded at around 123.20 to the euro, 0.14 percent stronger than the previous close. After the intervention, the dinar weakened modestly to 123.25 at 1355 GMT.Copyright ...