12082016Thu
Last update: Thu, 08 Dec 2016 05am

Europe

Markets - FXMM - Europe

Dollar dips on US bond yields, Thanksgiving hangover LONDON: The dollar retreated against its major peers on Friday, a pullback in US bond yields spurring some profit-taking as the world's main currency headed for its best run in almost two years. Expectations of rises in US inflation and interest rates have driven the greenback to a more than 6 percent gain over October and November, its strongest showing over a similar period since early 2015. Most currency players expect the gains to continue, but the combination of Thanksgiving, the processing of corporate flows before the month-end and perceived risks looming for markets in the first half of December led some to cash in gains now. The Australian and New Zealand dollars also both got some help from rises in iron ore prices and bullish trade figures respectively. "US yields gapped higher at open but we have been unable to hold those gains and that has encouraged some profit-taking," ...

Markets - FXMM - Europe

GLOBAL MARKETS-Dollar pulls back after skittling world currencies LONDON: The dollar surged to a near 14-year high before pulling back on Thursday, clocking up records against a range of other top world currencies and skittling emerging markets. Stronger data from the world's biggest economy and thinner volumes on the US Thanksgiving holiday underpinned the dollar's gains.The dollar had eased off highs by midday after pushing its way past more of last year's peaks against the euro to reach $1.0515, with only the March ...

Markets - FXMM - Europe

Dollar steadies after pre-Thanksgiving breakout LONDON: The dollar steadied after breaking past more of last year's peaks against the euro on Thursday, with only the March 2015 high of $1.0457 standing in the way of a push towards parity that banks are again saying is on the cards. With US markets out for the Thanksgiving holiday, trade was already thinning out after the dollar set a series of new landmarks in early trade in Europe, extending its surge after another ...

Markets - FXMM - Europe

Dollar surges on after durable data boost LONDON: The dollar climbed past more of last year's peaks against the euro on Thursday, with only the March 2015 high of $1.0457 standing in the way of a push towards parity that banks are again saying is on the cards.With U.S. markets out for the Thanksgiving holiday, trade is expected to be thinner, and the dollar set a series of new landmarks in early trade in Europe, extending its surge after another strong batch ...

Markets - FXMM - Europe

Budget drives sterling higher vs struggling euro LONDON: Sterling surged to a 10-week high against the euro and resisted the dramatic falls against the dollar suffered by other major currencies after a UK budget read as doing more than had been expected to bolster growth in years to come. At the heart of the sterling rally was a rocketing of long-dated gilt yields after finance minister Philip Hammond ramped up his forecasts for government borrowing to the tune of an extra 122 ...

Markets - FXMM - Europe

Trumped-up dollar steadies, offshore yuan hits record low LONDON: The dollar steadied near a recent peak on Wednesday, taking a breather ahead of the US Thanksgiving holiday after surging on expectations that a Donald Trump administration will boost growth and inflation, pushing up US interest rates. The dollar index - which tracks the greenback against six major currencies - has climbed over 3 percent since Trump's victory two weeks ago, but has edged slightly lower this week after reaching its highest levels since ...

Markets - FXMM - Europe

Offshore yuan hits new record low in volatile trade LONDON: China's offshore yuan hit a record low above 6.94 per dollar on Wednesday as traders in Europe and North America grappled with a strengthening dollar and signs of accelerating capital outflows from the Asian state in the wake of Trump's US election win.The offshore yuan fell almost half a percent to 6.9441 per dollar as US currency dealers arrived at their desks, with the currency on track for its heaviest monthly falls in 15 ...