07282016Thu
Last update: Thu, 28 Jul 2016 09pm

Europe

Markets - FXMM - Europe

Dollar index at 4-month high on strong US data, Fed hike hopes LONDON: The dollar hit a four-month high against a basket of currencies on Wednesday, bolstered by strong US data and growing expectations that the Federal Reserve may raise rates before the end of the year.Commerce Department data showed US housing starts surged 4.8 percent, underpinning a theme of strength in the economy.Fed funds futures rates point to investors seeing around a 40 percent chance the Fed will raise interest rates by its December meeting, according to CME Group's FedWatch tool, compared with less than 20 percent a few weeks ago. Expectations of a Fed hike come as other major central banks around the world gear up to ease monetary policy.The dollar index, which tracks the currency against a basket of six major rivals, hit a peak of 97.323 in European trade, its highest level since March 10. It was last trading at 97.104, a tad higher on the day.The dollar ...

Markets - FXMM - Europe

Sterling bounces as BoE survey shows limited Brexit vote fallout LONDON: Sterling rose against the euro and recovered all of the day's losses versus a broadly stronger dollar on Wednesday after a Bank of England survey showed no clear evidence of a slowing of economic activity after last month's Brexit vote. The survey reported signs that demand for credit was easing and that there were lower expectations for investment spending, but it also said the majority of companies did not expect any near-term impact on ...

Markets - FXMM - Europe

Dollar index at 4-mth high on strong US data, Fed hike hopes LONDON: The dollar hit a four-month high against a basket of currencies and rose against the yen on Wednesday, bolstered by strong US data and growing expectations that the Federal Reserve may raise rates before the end of the year. Commerce Department data showed that US housing starts surged 4.8 percent to a seasonally adjusted annual pace of 1.19 million units, underpinning a theme of strength in the US economy.Fed funds futures rates show investors ...

Markets - FXMM - Europe

Sterling falls back before inflation numbers LONDON: Sterling dropped back below $1.32 ahead of inflation data on Tuesday, more evidence that investors will sell the pound any time it blips higher in expectation of a grim economic aftermath of last month's vote to leave the European Union. Sterling saw its best performance since 2009 last week as many of those who had sold the pound in a 14 percent slide after the referendum took some of the profit they had earned ...

Markets - FXMM - Europe

Sterling firm, boosted by Softbank bid and Weale's comments LONDON: Sterling rose on Monday, boosted by expectations of inflows from an acquisition deal after Japan's Softbank agreed to buy chip designer ARM in a 24.3 billion pound deal which should help plug Britain's yawning current account gap.The pound extended gains after Bank of England policymaker Martin Weale said he was unsure if he would back an interest rate cut at next month's meeting. That contrasts with most of his colleagues who think a rate ...

Markets - FXMM - Europe

Turkish lira regains ground as coup contained, but worries simmer ISTANBUL: Turkey's lira rose 3 percent against the dollar on Monday, regaining much of the ground it lost after Friday's failed coup as investors took heart from government moves to regain control, though concerns simmered about the extent of the crackdown.Turkey's main BIST 100 share index, which had its first chance to react to the turmoil, fell 4.8 percent in early trade, pulled lower by banking shares and echoing the initial tumble in the lira ...

Markets - FXMM - Europe

Yen slips as Turkey quashes coup, Softbank deal eyed LONDON: The yen sank back towards three-week lows against the dollar on Monday as investors unwound a surge of safe-haven trades done on the back of reports of an attempted military coup in Turkey on Friday.Turkey widened a crackdown on suspected supporters of the failed coup on Sunday, taking the number of people rounded up in the armed forces and judiciary to 6,000, and the government said it was in control of the country and ...