05302016Mon
Last update: Mon, 30 May 2016 02am

Americas

Markets - FXMM - Americas

US dollar falls for first time after six-day rally NEW YORK: The dollar fell against a currency basket for the first time in seven days on Wednesday, as investors consolidated gains and booked profits on a day with no major U.S. economic data and as global stock markets were down.The greenback posted steep losses against the yen, which has fallen about 3.2 percent over the last seven days. The yen's recent losses had halted a run of gains that had propelled it to 18-month highs versus the dollar early this month."The dollar's bias hasn't meaningfully brightened given deep market skepticism in the Federal Reserve firing an interest rate hike in the near future," said Joe Manimbo, senior market analyst, at Western Union Business Solutions in Washington."Consequently, the foggy outlook for a Fed rate hike risks undercutting dollar rallies."Also stemming the yen's gains was a series of warnings from Japanese Finance Minister Taro Aso that the government would intervene in ...

Markets - FXMM - Americas

C$ rises to highest level of the week as oil rallies TORONTO/OTTAWA: The Canadian dollar strengthened against the greenback to its highest level of the week on Wednesday as energy prices rallied and investors consolidated after a recent rapid decline.Oil jumped after US crude inventories unexpectedly fell for the first time since March. US crude prices ended up $1.57 at $46.23 a barrel.The gains in oil helped the commodity-sensitive currency rise for the second day in a row after tumbling at the start of the month. ...

Markets - FXMM - Americas

C$ strengthens as focus shifts to oil sands restarts TORONTO: The Canadian dollar strengthened to a five-day high against its US counterpart on Wednesday as attention shifted to restarting production in Alberta's oil sands, although some gains for the currency were pared as oil turned lower.Production in much of the oil sands region should ramp up soon, top provincial and industry officials said on Tuesday as a wildfire threat eased.Roughly 1 million barrels per day of output has been lost to the fire, about ...

Markets - FXMM - Americas

Yen down as Japanese officials talk forex intervention NEW YORK: The yen retreated Tuesday after Japan's finance minister reiterated warnings about intervening in the foreign exchange market to counter a surge in the Japanese currency's value.Both the dollar and the euro charged higher against the yen Tuesday after finance minister Taro Aso repeated warnings about possible action, after saying Monday that Tokyo was "prepared to intervene" in markets.That followed recent similar comments from Prime Minister Shinzo Abe, who has warned over the negative ...

Markets - FXMM - Americas

Yen skids to near 2-week low on higher risk appetite, Japan warning NEW YORK: The yen dropped to a nearly two-week low against the dollar on Tuesday as risk appetite improved for a second straight session, undermining traditional safe havens such as the Japanese currency.Repeated verbal warnings from Japan over the weekend and on Tuesday saying it was prepared to step in to weaken the currency also held off investors seeking to buy the yen at the expense of the dollar. The greenback has struggled recently with ...

Markets - FXMM - Americas

C$ steadies after recent losses as oil rises TORONTO: The Canadian dollar was unchanged against its US counterpart on Tuesday as oil prices rose, while attention turned to when production will be brought back on line in Canada's oil sands region.Oil sands companies are expected to work as quickly as possible to resume wildfire-disrupted production, but face the challenge of staff and suppliers being displaced.About half of the region's crude output, or 1 million barrels per day, has been taken offline, according to ...

Markets - FXMM - Americas

Yen falls vs dollar for 2nd day to near two-week low NEW YORK: The yen slid to a nearly two-week low against the dollar on Tuesday as risk appetite improved for a second straight session, undermining traditional safe havens such as the Japanese currency.Repeated verbal warnings from Japan over the weekend and on Tuesday saying it was prepared to step in to weaken the currency has also held off investors seeking to buy the yen at the expense of the dollar. The greenback has struggled recently ...