08242016Wed
Last update: Wed, 24 Aug 2016 06am

Europe

Markets - FXMM - Europe

Sterling hits three-week high as speculators cut unfavourable bets LONDON: Sterling hit a three-week high against the dollar on Tuesday, rising above $1.32, with speculators cutting bets against the currency as data suggested that Britain's economy is holding up surprisingly well in the aftermath of the Brexit vote. Orders for British manufacturing exports hit a two-year peak in August, data released on Tuesday showed. The Confederation of British Industry said its measure of overall factory orders dipped slightly in August to -5. That beat a median forecast of -9 while export orders improved to -6 from -22, their highest since August 2014. July inflation and retail sales numbers released last week beat forecasts, adding to signs that consumers had yet to rein in spending after June's vote to leave the European Union. Lower than expected jobless claims also gave the pound a lift. Sterling rose as much as half a percent to $1.3210, its highest since Aug. 4. It ...

Markets - FXMM - Europe

Dollar dips on Fed rate hike doubts LONDON: The dollar weakened across the board on Tuesday, as investors shifted their focus away from hawkish remarks on U.S. interest rates by Federal Reserve officials and towards a speech on Friday by Fed Chair Janet Yellen.The greenback was given a boost over the weekend when Vice Chairman Stanley Fischer said the Fed was getting close to its job and inflation targets, prompting speculation that a rate hike could come as soon as September.But having ...

Markets - FXMM - Europe

Rouble stable as lower oil prices offset weaker dollar MOSCOW: The rouble opened little changed against the broadly weaker dollar on Tuesday, fighting off downward pressure from lower oil prices. At 0720 GMT, the rouble was 0.1 percent stronger against the dollar at 64.69 and had lost 0.1 percent to trade at 73.42 versus the euro.Analysts point out that the rouble responds quicker to a fall in crude prices rather than growth and they expect it to weaken later on Tuesday, possibly crossing 65 ...

Markets - FXMM - Europe

Sterling jumps above $1.32 as speculators cut unfavourable bets LONDON: Sterling hit a three-week high against the dollar on Tuesday, rising above $1.32 as speculators cut bets against it after data suggested Britain's economy was holding up surprisingly well in the aftermath of the Brexit vote. Data released by the Commodity Futures Trading Commission on Friday showed positioning is stretched, with sterling net short positions soaring to a record high of 94,238 contracts in the week to Aug. 16. Traders said some speculators were ...

Markets - FXMM - Europe

Sterling inches higher after strongest week in five LONDON: Sterling inched up on Monday after registering its strongest week in five against the dollar, as a run of robust economic data suggested Britain's economy was faring better than expected following its vote to leave the European Union.The pound was boosted last week after inflation and retail sales numbers for July beat forecasts, adding to signs there has been little immediate impact on consumer from the Brexit vote. Better-than-expected jobless claims data also lifted ...

Markets - FXMM - Europe

Dollar strengthens on Fischer's upbeat comments LONDON: The dollar rose on Monday, tracking short-dated U.S. Treasury yields after comments from Federal Reserve Vice Chairman Stanley Fischer revived bets on a U.S. interest rate hike by the end of this year.The two-year Treasury yield rose to a post-Brexit high of 0.7830 percent after Fischer said he thought the central bank was close to achieving its employment and inflation targets.Along with comments from Fed officials William Dudley and John Williams, who last week ...

Markets - FXMM - Europe

Sterling drops on talk Britain's divorce from EU to start early 2017 LONDON: Sterling fell 1 percent against the dollar on Friday, on speculation that Britain could formally begin the process of leaving the European Union early next year. However, the pound was on track for its best weekly performance in a month after a slew of robust data drove speculators to trim record high bets against the British pound. Data this week covering the month following Britain's June 23 referendum to leave the EU has surprised ...