Tuesday, 21 May 2013 17:19
Posted by Muhammad Iqbal
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 clues on when the scheme might end.If Bernanke reiterates his ultra-loose monetary policy stance, the dollar could give up some of its gains against most major currencies. However, any hint asset purchases could be wound down later this year would give the dollar index, which has risen 5 percent this year, a huge boost, traders said.The index, which measures the dollar against a basket of currencies, was up 0.4 percent at 84.092, not far from ...
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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 clues on when the scheme might end.If Bernanke reiterates his ultra-loose monetary policy stance, the dollar could give up some of its gains against most major currencies. However, any hint asset purchases could be wound down later this year would give the dollar index, which has risen 5 percent this year, a huge boost, traders said.The index, which measures the dollar against a basket of currencies, was up 0.4 percent at 84.092, not far from ...
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 ...
LONDON: The dollar edged up, gold steadied and European shares held near five-year highs on Tuesday as investors look out for US Federal Reserve signals on the future of its stimulus programme.Upbeat comments from Chicago policymaker Charles Evans have made Wednesday's release of minutes of the US central bank's last meeting and Fed chairman Ben Bernanke's testimony in Congress the same day the main focus for markets.The usually dovish Evans said on Monday that as ...
LONDON: Sterling recovered from a six-week low against the dollar on Monday as the US currency dipped after recent strong gains, but it was still vulnerable to signs the US central bank may scale back monetary stimulus.The pound could be lifted by Bank of England minutes on Wednesday and a string of UK data this week, including retail sales and revised first quarter gross domestic product figures, if they continue to point to an improving ...
WARSAW: Poland's finance ministry exchanged an equivalent of 6.5 billion euros ($8.3 billion) of funds denominated in foreign currency into zlotys on the open market last year, it said in a statement on Monday.In recent years, Poland has swapped European Union funds via state-owned lender BGK into local currency to prop up the zloty, keeping down the value of its foreign-denominated debt.Copyright Reuters, 2013 ...
LONDON: The yen rose from a 4-1/2-year low against the dollar on Monday after Japan's economy minister suggested the country's currency might have weakened enough, leading some investors to cut hefty bets against it.The dollar fell 0.6 percent to 102.55 yen, having slid about 1 percent to 102 in the Asian session. The euro lost 0.5 percent to 131.85 yen after plumbing 131.045. Last Friday, the dollar reached a 4-1/2-year high of 103.32 yen, while ...
LONDON: Sterling fell to a six-week low against a broadly firmer dollar on Friday on growing expectations the US Federal Reserve could soon start to scale back monetary stimulus after recent comments from Fed officials.Analysts expected the pound to stay weak against the dollar, especially given concerns incoming Bank of England head Mark Carney could ease policy when he takes up the post in July. But an improving UK economy could help it rise against ...
