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Last update: Sun, 31 Jul 2016 01am

Europe

Markets - FXMM - Europe

Sterling treads water as next week's BoE meeting eyed for direction LONDON: Sterling inched up against the dollar on Friday, staying within the ranges in which it has traded for the past two weeks, as investors eyed a Bank of England meeting next week that they expect will yield the first interest rate cut since 2009. Data showing British consumer morale suffered its sharpest drop in more than 26 years in July, the latest sign of increasing economic pessimism following last month's vote to leave the European Union, had little impact on the currency.A separate YouGov/CEBR consumer confidence indicator on Thursday had also shown a sharp fall, hitting its lowest in three years.Despite those numbers, and purchasing managers surveys last week that suggested Britain is heading for recession, sterling has proved more resilient than most major banks had forecast since it fell 14 percent in the hours after the Brexit vote.Derivatives market indications of its future value are now far more ...

Markets - FXMM - Europe

Sterling falls as minds turn to BoE LONDON: Sterling fell to a two-week low against the euro on Thursday, 3,000 job cuts at British bank Lloyds adding to signs of a worsening economic outlook as investors bet the Bank of England will cut interest rates next week. Since the 14 percent fall in the pound in the hours after the vote to leave the European Union on June 23, sterling has proved more robust than many major banks' forecasts. Derivatives market indications ...

Markets - FXMM - Europe

Dollar falls against yen as BOJ easing bets pared back LONDON: The dollar fell against the yen on Thursday as expectations faded that the Bank of Japan would deliver the radical stimulus package some had expected this week, and after the U.S. Federal Reserve stopped short of flagging a near-term rate rise.Expectations for action are still high, nevertheless, and the price of hedging against big swings in the dollar/yen exchange rate over the next 24 hours surged above 50 percent on Friday for the first ...

Markets - FXMM - Europe

Sri Lanka rupee ends up on bank dollar sales; rate decision awaited COLOMBO: The Sri Lankan rupee ended firmer on Thursday as banks' dollar sales surpassed mild importer greenback demand ahead of the central bank's monetary policy rate announcement later in the day, dealers said.The central bank is expected to keep its key interest rates steady for a fifth straight month on Thursday, a Reuters poll showed, despite signs that inflation and private sector credit growth are picking up. However, the possibility of a surprise rate hike ...

Markets - FXMM - Europe

Sterling gets no lift from better, but backward-looking, GDP data LONDON: Sterling edged down against the dollar and euro on Wednesday, refusing to be lifted by second-quarter UK growth data that was stronger than had been expected, though backward-looking.Britain's economy grew by 0.6 percent during a second quarter that ended with a vote to leave the European Union, up from 0.4 percent in the first three months of 2016.Those numbers incorporated just a week of the period after the June 23 vote, but retail sales ...

Markets - FXMM - Europe

Sterling slides amid better but backward-looking GDP data LONDON: Sterling slipped against the dollar and euro on Wednesday despite second-quarter UK growth data that was stronger but too backward-looking to have much impact on the currency.Helped by the biggest upturn in industrial output since 1999, Britain's economy grew by 0.6 percent, up from 0.4 percent in the first three months of 2016, during a second quarter that ended with a vote to leave the European Union.Sterling was trading at around $1.31 at 0900 ...

Markets - FXMM - Europe

Yen hit by scale of fiscal plan, new bond issue talk LONDON: Signs of a larger than previously expected fiscal stimulus plan for Japan had the yen back on the defensive on Wednesday, as investors bet the Bank of Japan (BOJ) would match that with a new bout of money-printing aimed at weakening its currency.Yen volatility has neared record highs in the past month on speculation, repeatedly denied by officials, that the BOJ will take the next step in eight years of emergency policymaking by handing ...