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Last update: Mon, 23 Jan 2017 05am

Europe

Markets - FXMM - Europe

Goldman expects sterling to stay resilient to UK election risks LONDON: Sterling has remained surprisingly resilient to the risks from uncertainty from a closely fought British general election, Goldman Sachs said in a note, adding that the pound will ultimately be driven by the solid growth of the economy."While sterling may have room to price further election risk, we look to past election cycles to demonstrate that political uncertainty, of itself, has not been decisive for the currency, whereas the macro backdrop is key," Goldman analysts said in a report made available on Friday. On a trade-weighted basis, sterling has hit six-week peaks this week, while against the dollar and the euro it was trading near five-week highs. It has gained this week, lifted by a growing view within the nine-member monetary policy committee of the Bank of England that the next move by the central bank will be a rate hike. The BoE also flagged upside risks to inflation ...

Markets - FXMM - Europe

Sterling slips after UK retail sales disappoint LONDON: Sterling backed away from a five-week high against the dollar on Thursday after data showed British retail sales fell in March, confounding expectations of a rise and wrong-footing some traders who had expected a robust number.Data showed retail sales fell 0.5 percent in March compared with February and were up 4.2 percent compared with March last year. Economists in the Reuters poll had forecast increases of 0.4 and 5.4 percent respectively.Sterling fell to a ...

Markets - FXMM - Europe

Sterling climbs past $1.50 to 5-week high after upbeat BoE minutes LONDON: Sterling rose past $1.50 to hit a five-week high against the dollar on Wednesday, after minutes from the latest Bank of England policy meeting showed policymakers were slightly more focused on the risk of inflation accelerating.Traders said sterling was also helped by a growing view within the nine-member monetary policy committee that the next move by the BoE will be a rate hike. The minutes of the April 8-9 meeting showed that the officials ...

Markets - FXMM - Europe

Euro steadies, Aussie up after core inflation LONDON: The euro recovered some ground against the dollar on Wednesday in the absence of major news on Greece, while the Australian dollar rose after inflation data suggested an interest rate cut was not imminent.In a subdued session for most major currencies, sterling gained around half a percent against a basket of its peers after Bank of England minutes that emphasised hopes for a further improvement in the UK economy over the next year.The threat ...

Markets - FXMM - Europe

SNB move on negative rates sends Swiss franc sharply lower LONDON: The Swiss franc fell 1 percent against the dollar and dropped against the euro on Wednesday after the Swiss National Bank said it was reducing considerably the number of institutions exempt from negative rates on cash deposits held at the central bank. Analysts said the move increased the chances that the SNB could take interest rates deeper into negative territory, especially if flows into the safe-haven Swiss franc increase due to Greece's debt problems ...

Markets - FXMM - Europe

Sterling climbs past $1.50 to 5 week high after upbeat BoE minutes LONDON: Sterling rose past $1.50 to hit a five-week high against the dollar on Wednesday, after minutes from the latest Bank of England policy meeting showed policymakers were slightly more focused on the risk of inflation accelerating. Traders said sterling was also helped by a growing view within the nine-member monetary policy committee that the next move by the BoE will be a rate hike. The minutes of the April 8-9 meeting showed that the ...

Markets - FXMM - Europe

Rouble down 3.4pc vs dollar after cbank raises forex repo rates MOSCOW: The rouble reversed early gains on Monday after the central bank said it was raising the rate at which it lends foreign currency to banks through repo auctions, its second such move this month. At 1305 GMT, the rouble was around 3.4 percent weaker against the dollar at 53.66 after opening some 0.9 percent higher. The rouble also was down 2.9 percent to trade at 57.70 versus the euro. The central bank said it ...