Wednesday, 20 March 2013 19:15
Posted by Abdul Ahad
TORONTO: The Canadian dollar firmed against its US counterpart on Wednesday as investors were hopeful a Cyprus deal could be reached to rescue the indebted euro zone country. The Cypriot parliament rejected on Tuesday a proposed levy on bank deposits, which was a condition for the bailout. The general assumption in markets is that policymakers will cobble together a deal to keep Cyprus in the currency bloc."I think the market's taking a wait and see ... the hopes are that they come to some solution that won't be quite as radical," said Don Mikolich, executive director, foreign exchange sales at CIBC World Markets.At 9:23 a.m. (1323 GMT), the Canadian dollar was trading at C$1.0254 versus the greenback, or 97.52 US cents, stronger than Tuesday's North American session finish at C$1.0270, or 97.37 US cents.Its performance was mixed against other key foreign currencies. It was stronger against the Japanese yen and ...
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TORONTO: The Canadian dollar firmed against its US counterpart on Wednesday as investors were hopeful a Cyprus deal could be reached to rescue the indebted euro zone country. The Cypriot parliament rejected on Tuesday a proposed levy on bank deposits, which was a condition for the bailout. The general assumption in markets is that policymakers will cobble together a deal to keep Cyprus in the currency bloc."I think the market's taking a wait and see ... the hopes are that they come to some solution that won't be quite as radical," said Don Mikolich, executive director, foreign exchange sales at CIBC World Markets.At 9:23 a.m. (1323 GMT), the Canadian dollar was trading at C$1.0254 versus the greenback, or 97.52 US cents, stronger than Tuesday's North American session finish at C$1.0270, or 97.37 US cents.Its performance was mixed against other key foreign currencies. It was stronger against the Japanese yen and ...
NEW YORK: The euro tumbled to a more than three-month low against the US dollar and a roughly two-week trough versus the yen on Monday as a bailout plan for Cyprus that will tax bank deposits spurred contagion worries in the euro zone.Euro zone finance ministers demanded at the weekend that Cypriots pay up to 9.9 percent of their bank deposits in exchange for a 10-billion-euro ($13 billion) bailout.The move broke with previous EU protocol ...
RIO DE JANEIRO: Latin American currencies weakened on Monday as investors feared an escalation of the euro zone financial crisis following a bailout plan for Cyprus that would share losses with bank depositors. The plan, facing a vote in Cyprus' parliament on Tuesday, includes a tax on bank accounts as part of a 10 billion euro bailout by the European Union. In an attempt to avoid such a tax, Cypriots emptied cash machines over the ...
TORONTO: The Canadian dollar weakened against the US dollar on Monday after a bailout plan for Cyprus, which will tax bank deposits in exchange for a 10 billion euro ($13 billion) bailout, sparked a sell-off in riskier assets. The weekend announcement broke with previous EU practice that depositors' savings were sacrosanct and led to worried Cypriots emptying cash machines on the island. "It's rather surprising news, It did prompt a bit of a risk-off reaction ...
RIO DE JANEIRO: Latin American currencies edged lower on Friday as a decline in US consumer confidence weighed on the Mexican peso while doubts about future interest rate hikes in Brazil hit the real. The Brazilian real dropped 0.14 percent to 1.9840 per dollar as investors continued to digest the minutes of the central bank's latest monetary policy meeting.In the document, released on Thursday, policymakers sounded increasingly concerned about inflation but, at the same time, ...
NEW YORK: Commodities fell on Wednesday, snapping four straight days of gains, with a strong dollar and a general slowdown in demand pressuring prices for oil, metals and most crops.Some raw materials, like robusta coffee and corn, slid on profit-taking as traders unwound bullish bets built since last Thursday on optimism about the US economic recovery.Benchmark Brent crude oil in London fell after the dollar climbed to a seven-month high against a basket of currencies ...
RIO DE JANEIRO: The Mexican peso gained for a fifth consecutive session on Wednesday, leading Latin American currencies higher, as data showed US retail sales rose in February more than twice as much as economists expected.The data boosted prospects for Mexico's economy, adding to investor optimism about a series of structural reforms planned by the new government of President Enrique Pena Nieto. The United States is the main destination for Mexican exports.The Mexican peso firmed ...
