Europe
Friday, 24 May 2013 16:40
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WARSAW: The Polish zloty hovered near a 10-month low on Friday after weak retail sales data bolstered expectations the central bank will cut interest rates again next month to shore up central Europe's biggest economy.Other currencies in the region were mixed. The Czech crown picked up after its nearly 4 percent slide this year but dealers said it was likely to remain weak in the longer term given a sluggish Czech economy and central bank intervention risk.The zloty fell 0.2 percent to 4.204 to the euro by 0859 GMT, just off a four-month low of 4.2120 hit on Thursday. The crown gained 0.6 percent, while the Hungarian forint added 0.2 percent.The zloty, the region's most liquid currency, has lost 3.1 percent this year, hit by domestic rate cuts and worries that an eventual unwinding of US monetary stimulus could curb fund inflows to emerging markets.It is now nearing a nine-month ...
LONDON: The euro rose on Friday after a German business sentiment survey beat forecasts, suggesting Europe's largest economy is picking up and lessening prospects of further euro zone monetary easing.The Ifo business climate index rose to 105.7 in May, well above forecasts for 104.5 as it rebounded after two consecutive falls.The euro rose 0.3 percent on the day to a session high of $1.29875, close to this week's peak of $1.2998 and the mid-May high ...
LONDON: The dollar and the euro fell by more than two percent against the yen on Thursday as investors opted for safe-haven currencies on increasing prospects the US Federal Reserve might pare back its stimulus programme.The dollar fell to a near two-week low of 100.83 yen, breaking through stops at 101.25 yen. Traders cited the next support at the 100 yen level.The euro also slipped by more than two percent against the yen of 129.945 ...
LONDON: The yen vaulted to two-week highs against the dollar and the euro on Thursday as a slide in equities encouraged profit-taking on the safe-haven currency's recent sharp falls.Concerns US monetary stimulus could be scaled back, after testimony by Federal Reserve Chairman Ben Bernanke, and weak Chinese data triggered a 7.3 percent plunge in Japan's Nikkei share index, its biggest one-day drop in two years.The dollar and the euro both fell more than 2 percent ...
LONDON: The Swiss franc fell to its lowest in two years against the euro on Wednesday after Swiss National Bank chief Thomas Jordan did not rule out negative interest rates and said policymakers could adjust the currency cap if necessary.The euro rose to 1.2588 francs on trading platform EBS , its highest since May 2011, and up 0.4 percent on the day. The SNB imposed the currency cap of 1.20 francs per euro in Sept. ...
LONDON: The dollar rose against the yen on Tuesday after a minister rowed back on remarks suggesting the Japanese currency had weakened enough, but gains were capped before testimony from the head of the US central bank.Speculation the Federal Reserve will trim its bond purchases sooner than expected has mounted given signs of an improvement in the US labour market. Chairman Ben Bernanke testifies to Congress on Wednesday and his words will be combed for ...
LONDON: Sterling fell and gilts rose on Wednesday after Britain's April inflation rate undershot expectations.Sterling fell to $1.5184 from $1.5212 as the data was perceived by traders as giving incoming Bank of England chief Mark Carney more room to ease monetary policy later in the year. The euro rose to 84.675 from 84.58 pence.British June government bond futures extended gains by almost 20 ticks to hit a session high of 117.79 after the data, and ...
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