07262016Tue
Last update: Tue, 26 Jul 2016 05pm

Europe

Markets - FXMM - Europe

Polish currency tumbles against Swiss franc over mortgage worries WARSAW: The Polish currency tumbled against the Swiss franc on Thursday and spread panic among homeowners after Switzerland's central bank ended its bid to artificially hold down the value of its currency against the euro. Some 700,000 Polish households hold mortgage loans in Swiss francs. Poland's zloty currency fell by nearly 20 percent against the Swiss franc Thursday at mid-day.Copyright AFP (Agence France-Presse), 2015 ...

Markets - FXMM - Europe

Swiss franc up 15 percent after SNB abandons cap LONDON: Switzerland's franc soared by 15 percent on Thursday after the Swiss National Bank abandoned its three-year-old cap against the euro, sending a shockwave through major currency markets.The euro sank by as much as 30 percent, past the 1.20 francs per euro cap to 0.8052 francs within minutes of the SNB's announcement, and broader concerns about the shared currency sent it to its weakest in 11 years against the dollar.One of London's slew of retail ...

Markets - FXMM - Europe

Swiss franc leaps 15 percent after SNB abandons cap on currency LONDON: The Swiss franc soared by 15 percent on Thursday after Switzerland's central bank scrapped its three-year-old cap against the euro, sending a shockwave through currency markets.The euro plunged as much as 30 percent below the 1.20 cap to 0.8500 francs per euro at one point before rebounding to roughly 1.02 francs. Broader concerns about the euro sent it to its weakest in 11 years against the dollar.One of London's slew of retail trading platforms, ...

Markets - FXMM - Europe

Sterling at 7-year high vs euro, 3-year low against Swiss franc LONDON: Sterling hit a seven-year high against a struggling euro on Thursday after the Swiss National Bank surprised investors by abandoning its three-year-old cap on the franc's value against the euro, sending a shockwave through major currency markets.The SNB has been a big buyer of the euro, having stepped up its intervention in the past few weeks to defend the cap at 1.20 franc per euro and prevent the Swiss franc from appreciating.With the cap ...

Markets - FXMM - Europe

Russian rouble firms as oil rallies, Kremlin ups verbal support MOSCOW: The rouble firmed on Thursday, tracking the performance of global oil prices, with investors remaining nervous, however, at the prospect of Russia's sovereign debt being downgraded to 'junk' status.At 1440 GMT the rouble was around 0.4 percent stronger at 64.47 to the dollar, and was also 1.4 percent firmer against the euro at 75.21.The rouble often takes its lead from prices for oil, one of Russia's chief exports, and crude rallied on dollar weakness. ...

Markets - FXMM - Europe

Russian rouble falls back as oil renews retreat MOSCOW: Russia's rouble weakened on Thursday as global oil prices resumed their slide and investors were nervous at the prospect of Russia being downgraded to 'junk' status.At 0840 GMT the rouble was around 1 percent weaker against the dollar at 65.43 and was also 1 percent weaker against the euro at 77.08.The rouble often takes its lead from prices for oil, one of Russia's chief exports, and Brent crude fell over 2 percent on Thursday ...

Markets - FXMM - Europe

Sterling hits six-year high against weakened euro LONDON: Sterling hit a six-year high against a struggling euro on Thursday on growing expectations the European Central Bank will embark soon on outright government bond buying.Traders said the pound was also still drawing support from expectations that the British economy would outperform its peers in Europe.With inflation subdued and growth slowing, investors have pushed back when they expect the Bank of England to raise interest rates. But the UK's prospects still contrast with the ...