02102016Wed
Last update: Wed, 10 Feb 2016 11am

Markets - FXMM

Markets - FXMM - Europe

Sterling slips back as oil and stocks fall LONDON: Sterling fell back towards 7-year lows against the dollar on Tuesday, hit by a continuation of a slide on oil and stock markets that has added to concerns that Britain could vote to quit the European Union.The pound appeared to gain a foothold at the end of last week, but with expectations of a rise in Bank of England interest rates this year having collapsed, it is still close to its weakest level in a year against the euro, and resisting a first fall below $1.40 since the 2008 financial crash.Sterling fell around a third of a percent in morning trade to $1.4197 and 76.33 pence per euro respectively."We are struggling a bit for more direction after the past month's falls," said a dealer with one international bank in London."It still feels like there are more sellers out there, but we have come a long way. $1.40 is a ...


Markets - FXMM - Middle East & Africa

Egyptian pound steady at forex sale, weaker on black market CAIRO: Egypt's central bank kept the pound steady against the dollar at its official foreign currency auction on Tuesday but the currency weakened against the dollar on the black market.Egypt, which depends on imported food and energy, is facing a dollar shortage and increasing pressure to devalue the pound.The central bank surprised markets when it strengthened the pound against the dollar on Nov. 11 by 20 piasters and has bucked expectations by holding it steady ...

Markets - FXMM - Europe

Yen and euro give up gains as oil slide stops LONDON: The safe-haven yen and the low-yielding euro halted their rise on Tuesday, as stock markets and oil prices recovered, providing some relief to battered commodity-linked and oil-related currencies such as the Australian and Canadian dollars.The dollar index was flat, with investors cautious before the outcome of the Federal Reserve's two-day policy meeting beginning later in the day.Investors will be parsing the U.S central bank's message to determine what, if any, effect volatile global markets, ...

Markets - FXMM - Middle East & Africa

South Africa's rand weakens as global market sell: off resumes JOHANNESBURG: South Africa's rand weakened in early trade on Tuesday as an oil price plunge swung global markets away from riskier assets.Stocks were also weaker in early trade, with the broader All-share index down 0.81 percent and the blue-chip Top-40 slipped 1.06 percent.The rand was changing hands at 16.6100 to the dollar by 0652 GMT, 0.45 percent weaker than its 16.5400 Monday close in New York.A renewed bout of negative sentiment concerning emerging markets ensured ...

Markets - FXMM - Europe

Rouble continues retreat as oil slides back below $30 MOSCOW: The Russian rouble fell back heavily on Tuesday, dragged down by the oil price which has resumed its slide below $30 per barrel after a rally at the end of last week.At 0730 GMT, the rouble was 2.1 percent weaker against the dollar at 81.84 and had lost 2.2 percent to 88.97 versus the euro.Brent crude oil, a global benchmark for Russia's main export, was down 2.9 percent at $29.62 a barrel.The rouble had ...

Markets - FXMM - Asia

Emerging currencies suffer as oil prices head south TOKYO: Emerging market currencies suffered in Asian trading on Tuesday as another drop in oil prices and a regional equity sell-off pushed investors into safer assets.The oil-linked Malaysian ringgit and South Korean won were among the top losers against the dollar as crude fell back below $30 a barrel owing to a global supply glut, weak demand and overproduction.The ringgit fell 0.35 percent against the greenback and the won slumped 0.47 percent after data showed ...

Markets - FXMM - Americas

Dollar dips with oil, equities; investors pick less risky currencies NEW YORK: The dollar edged down on Monday as renewed selling on oil markets drove investors into currencies often deemed less risky investments, such as the euro, Swiss franc and Japanese yen.Crude oil futures fell 3 percent after Iraq announced record-high oil production, feeding into a heavily oversupplied market.U.S. stock indexes opened lower, following their European counterparts, dragged down by energy stocks.The oil price fall turned investors' focus back onto a broadly negative outlook for ...