Europe
Monday, 13 May 2013 14:59
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LONDON: Sterling rose against the euro on Monday, after a senior European Central Bank policymaker said a cut in euro deposit rates to negative could be considered if the euro zone economy deteriorated.A cut in the deposit rate - the rate at which the banks park their excess funds with the ECB, currently at zero - to negative could make holding euros less attractive to most investors and lead to a sell-off, traders said.ECB Governing Council member Ignazio Visco was quoted as saying that the ECB could take its deposit rate below zero to help the ailing euro zone economy, joining others including ECB President Mario Draghi who have flagged such a prospect.In contrast, a recent pick-up in activity in the British economy has lessened the chances of more monetary easing or asset purchases, in the near term by the Bank of England (BoE).The euro was down 0.2 percent at ...
LONDON: The yen suffered fresh losses on Monday after Group of Seven finance officials avoided direct criticism of Japan's monetary policy, which has pushed its currency to four-year lows.The euro also fell against a firmer dollar after European Central Bank policymaker Ignazio Visco said the central bank may opt for a negative deposit rate. This contrasted with expectations the US Federal Reserve may soon taper its asset-buying monetary easing.The yen hit 102.15 yen per dollar, ...
LONDON: The dollar continued to power higher on Monday, leaving oil and gold prices in its wake, after the Group of Seven gave a green light to Japan's efforts to spur growth with aggressive monetary easing.Comments from Italy's central bank governor that the ECB could push one of its key interest rates below zero also put pressure on the euro and lifted benchmark German Bunds as investors started to think about more profitable options.The dollar ...
LONDON: Sterling rose to a near four-year high against a beleaguered yen on Friday, with the pound drawing support from a pick-up in activity in the British economy that has lessened the chances of more monetary easing in the near term.Data showed Britain's trade gap narrowed in March and capped a week when most economic numbers like industrial data and house prices surprised investors who were positioned for far worse outcomes.Attention now turns to next ...
LONDON: The yen slid to its lowest since October 2008 against the dollar on Friday on signs Japanese investors were buying more foreign assets and as US data sparked talk the Federal Reserve may scale back monetary easing.The yen fell 1 percent to hit a four-and-a-half year low of 101.74 yen per US dollar on EBS trading platform.Traders said the yen extended falls after breaking through a reported options barrier at 101.50 yen and as ...
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