02082016Mon
Last update: Mon, 08 Feb 2016 03pm

Europe

Markets - FXMM - Europe

Rouble plumbs new depths as sanctions 'panic' weighs MOSCOW: The struggling Russian rouble plumbed new depths on Tuesday as punitive economic sanctions, sinking oil prices and an acute dollar shortage combined to trigger what some observers called a mood of panic on the currency market.The same factors have driven the Russian currency lower since the middle of last week, leading traders to position for further weakness, and by 0900 GMT, the rouble was 0.82 percent weaker against the dollar at 38.71 and had lost 0.91 percent to 50.10 versus the euro.That left the currency 0.86 percent weaker at 43.83 against the dollar-euro basket the central bank uses to gauge the rouble's nominal exchange rate.It fell below 38 roubles per dollar for the first time ever on Monday. By Tuesday morning it had already breached 38.50 and appeared to be fast approaching 39, falling as low as 38.93 before recovering slightly."The trigger for the rouble's weakening was the U.S. ...

Markets - FXMM - Europe

Sterling dips as Scottish vote nears; inflation data taken in stride LONDON: Sterling fell towards recent lows on Tuesday, keeping the cost of hedging against sharp swings over the next week at its highest in four years, as Scotland's vote on independence approaches.Investors briefly focussed on UK inflation data, after days of heated debate on the Scottish referendum debate, where the pound is centre-stage. But inflation fell in line with forecasts and did little to divert attention from the possible break up of the United Kingdom.Annual ...

Markets - FXMM - Europe

Turkish lira down, Bank Asya shares hit record low ISTANBUL: The Turkish lira was trading at 5-1/2-month lows on Tuesday as fears of a hawkish shift in the US Federal Reserve's policy stance hit emerging market assets. Shares in Bank Asya fell 10 percent to 0.89 lira, a record low, amid uncertainty over its future.The bank's shares fell 20 percent on Monday as trading resumed after a suspension of more than a month due to uncertainty regarding its ownership.The lira fell to 2.2203 against ...

Markets - FXMM - Europe

Sterling slips as Scottish vote nears, soft UK inflation could hurt LONDON: Sterling fell back towards recent lows on Tuesday, keeping the cost of hedging against sharp swings over the next week at its highest in four years, as nervousness intensified before Scotland's vote on independence in two days time. After days of choppiness caused by the heated Scottish referendum debate where the pound is centre-stage, investors will focus on economic data for a brief while on Tuesday. UK inflation data is due out at 0830 ...

Markets - FXMM - Europe

Sterling jitters set to last as Scots vote goes to the wire LONDON: Sterling traded marginally lower on Monday after another round of polls showed Thursday's vote on Scottish independence still too close to call, keeping bets for volatility over the next week at its highest in four years.Economic data releases this week may turn markets briefly away from a debate that threatens to rip the United Kingdom apart and set it on a new political and financial course.But analysts say the referendum has so dominated recent ...

Markets - FXMM - Europe

Large foreign debt repayments drag rouble to record low MOSCOW: Russia's rouble fell to a record low against the dollar on Monday, as Russian companies made payments on foreign debt, oil prices dropped and markets came to expect the central bank would not intervene to defend the currency.Russian assets took a beating last week after the United States and European Union imposed new sanctions over Moscow's role in the separatist conflict in Ukraine. That further limited access to foreign capital for some of Russia's ...

Markets - FXMM - Europe

Turkish lira weakens, Bank Asya shares fall 20 percent ISTANBUL: The Turkish lira hovered near its five-month lows on Monday as expectations of a policy shift from the U.S. Federal Reserve this week hampered appetite for riskier assets.Shares in participation bank Bank Asya fell 20 percent to 0.99 lira, its lowest in five and a half years, as trading resumed after a suspension of more than a month due to uncertainty regarding its ownership.The lira fell below 2.22 against the dollar earlier on Monday ...