01252017Wed
Last update: Wed, 25 Jan 2017 12am

Americas

Markets - FXMM - Americas

Dollar hits 3-week low as US data fails to override yuan surge NEW YORK: The dollar fell to a three-week low against a basket of major currencies on Thursday after US inflation and unemployment data failed to reverse a downtrend that followed some of the biggest gains on record for China's yuan. A rise in overnight borrowing costs in Hong Kong and growth in China's services sector to a 17-month high last month helped put the offshore yuan on pace for the biggest two-day rise since its inception in 2010. That in turn triggered profit-taking on the dollar, which fell to its lowest since Dec. 14 as more investors piled on. The dollar index, a measure of the greenback against six world currencies, dropped 1.3 percent to 101.370.The index is on pace for its worst one-day percentage loss since Sept. 6.The dollar's steep dive was the result of investors having to reduce or reverse bets on the greenback as momentum shifted in ...

Markets - FXMM - Americas

C$ jumps to near 3-week high amid upbeat global data TORONTO: The Canadian dollar strengthened to a near three-week high against its US counterpart on Wednesday, together with gains for other commodity-linked currencies after upbeat global economic data.A batch of reports from Europe showed that French consumer confidence hit a nine-year high, business activity across the euro zone rose at the fastest pace in more than five years and inflation in the euro zone is its highest in over three years. This followed similarly upbeat ...

Markets - FXMM - Americas

C$ modestly stronger as oil remains firm TORONTO: The Canadian dollar firmed slightly on Wednesday against its US counterpart as the price of oil, a key Canadian export, held near highs not seen since 2015.Trading was expected to be driven mostly by flows, however, as the year winds to a close and many Canadian participants are off during a holiday-shortened work week."Today, tomorrow, Friday are going to be completely driven by, obviously, flows," said Brad Schruder, director, foreign exchange sales at BMO ...

Markets - FXMM - Americas

C$ dips, paring some of prior day's gains TORONTO: The Canadian dollar weakened slightly against its US counterpart on Wednesday but hung on to most of the previous day's gains as oil prices rose and the greenback retreated from a 14-year high.The US dollar weakened against a basket of major currencies, giving back some of the gains chalked up since US President-elect Donald Trump's victory last month.Oil, one of Canada's major exports, rose on expectations for a decline in US crude inventories.US crude ...

Markets - FXMM - Americas

C$ weakens against firm greenback as oil dips TORONTO: The Canadian dollar weakened against its US counterpart on Monday as oil dipped and expectations for further US Federal Reserve interest rate hikes kept the greenback close to its highest in 14 years.The loonie fell 1.2 percent last week after the Fed raised interest rates and signaled increases would follow at a faster pace next year.The price of oil, one of Canada's major exports, edged down due to renewed gains for the US dollar, ...

Markets - FXMM - Americas

Yen jumps as Russian ambassador to Turkey dies in attack NEW YORK: The yen jumped on Monday on safe-haven bids after the Russian ambassador to Turkey was shot to death in the Turkish capital, adding to buying of the Japanese currency to book profits on dollar's recent gains.It was not immediately clear who attacked Andrei Karlov at an art gallery in Ankara. Islamic State militants have been active in Turkey and carried out several bomb attacks there.Currency traders typically move into the yen from the ...

Markets - FXMM - Americas

US dollar rally to 14-year highs halts on profit-taking NEW YORK: The US dollar edged higher against a basket of major currencies on Friday, holding near 14-year highs touched after Wednesday's Federal Reserve meeting, with profit-taking halting the momentum of the greenback's rally. The dollar index, which measures the greenback against a basket of six major rivals, was last at 103.140, not far from Thursday's 14-year high of 103.560 but up only 0.12 percent on the day in the wake of Wednesday's Fed decision. ...