09302016Fri
Last update: Fri, 30 Sep 2016 08am

Europe

Markets - FXMM - Europe

Sterling anchored around $1.30, gains capped by BoE easing expectations LONDON: Sterling slipped to trade around $1.30 on Thursday, on lingering expectations that the Bank of England might further ease monetary policy in coming months. Those expectations got a boost when outgoing Bank of England Deputy Governor Minouche Shafik said a rate cut in 2016 would hinge on data, but she would rather act pre-emptively. Sterling was a tad weaker at $1.3005, having struck a five-week low of $1.2915 on Sept. 23, its lowest since mid-August. The euro was slightly higher at 86.355 pence . "We continue to see sterling as a vulnerable currency and expect further downside for the pound against both the dollar and the euro in the coming months," Rabobank senior currency strategist Jane Foley said. "We look for euro/sterling to move towards 88 pence by the middle of 2017 and sterling/dollar moving to $1.25 in this time frame." Investors worry that an exit from Europe's single ...

Markets - FXMM - Europe

Zloty leads currency easing, Poland dismisses finance minister BUDAPEST/BUCHAREST: The zloty led a weakening of Central European currencies on Wednesday as Polish Prime Minister Beata Szydlo dismissed Pawel Szalamacha as finance minister in a government reshuffle.His responsibilities will be taken over by Deputy Prime Minister and Economy Minister Mateusz Morawiecki who has bigger support within the ruling Law and Justice Party (PiS) which is advocating a bigger state role in various economic sectors including banks.Szydlo said the reshuffle was needed to make the ...

Markets - FXMM - Europe

Sterling dips after BoE's Shafik flags rate cut possibility LONDON: Sterling dipped on Wednesday after a Bank of England policymaker said she expected the central bank would "at some point" need to add more monetary stimulus to Britain's economy to cushion the blow dealt by Brexit.BoE Deputy Governor Minouche Shafik - who will be stepping down from the bank's monetary policy committee next year - said a 2016 rate cut would hinge on economic data, but that she would rather act pre-emptively than "be ...

Markets - FXMM - Europe

Weaker pound may not lead to higher food prices, Sainsbury's says LONDON: Sterling's fall since Britain's vote to leave the European Union will not necessarily lead to higher grocery prices, as it could be offset by lower commodities prices and stiff competition, the country's No.2 supermarket group Sainsbury's said on Wednesday. Britain's grocery sector has seen more than two years of falling prices as German discounters Aldi and Lidl have led a price war, forcing a fight back from the "big four" players - market leader ...

Markets - FXMM - Europe

Dollar edges up from 1-month low vs yen, focus on Fed speakers LONDON: The dollar rose against the yen and a basket of currencies on Wednesday, with the focus shifting to Federal Reserve chair Janet Yellen's semi-annual testimony before a Congressional committee later in the day. While she is set to focus on financial regulation, traders said she is likely to be asked questions about the Fed's outlook on rates and the economy.Cleveland Fed President Mester and Kansas City Fed President George are also due to speak ...

Markets - FXMM - Europe

Russian rouble stronger as taxes due; traders await OPEC news MOSCOW: The Russian rouble opened stronger on Tuesday, helped by local tax payments, as investors awaited signals from OPEC oil producers on a possible output-limiting deal.At 0756 GMT, the rouble was 0.4 percent stronger against the dollar at 63.72 and had gained 0.3 percent to trade at 71.69 versus the euro.The Russian currency was catching up with a 3 percent increase in oil prices late in the previous session and benefiting from foreign-currency sales by ...

Markets - FXMM - Europe

Brexit worries drive sterling to six-week low against euro LONDON: Sterling slipped to a five-week low against the euro on Monday, as lingering worries over the economic impact of Britain's impending exit from the European Union weighed on the currency. The pound also traded close to a five-week low against the dollar at $1.2985, leaving it less than two cents away from the three-decade low below $1.28 it plumbed in the wake of June's Brexit vote. After hitting that low in July, sterling gained ...