01172017Tue
Last update: Tue, 17 Jan 2017 10pm

Europe

Markets - FXMM - Europe

Sterling to slip a little further after EU divorce process starts LONDON: Sterling will slip a touch more against the euro and dollar after Britain begins its official divorce process from the European Union, a Reuters poll found, while identifying risks that the falls could be steeper. The pound has fallen about 17 percent against the dollar since the June 23 vote to leave the EU, trading near $1.24 on Friday, and according to the poll of around 60 foreign exchange strategists surveyed this week it will dip a little further. In a month's time it will be worth $1.22 but at the end of March, by when Prime Minister Theresa May aims to trigger Article 50 which starts the two-year countdown to Brexit, the poll said cable would be at $1.21. "In the wake of the very strong UK data the fact that sterling has lagged other currencies slightly against the dollar suggests politics is dominating," said Colin Asher at ...

Markets - FXMM - Europe

Sterling hits 2-month low against rallying dollar LONDON: Sterling hit a two-month low against a dollar that soared to its highest levels in 14 years against a basket of currencies on Tuesday, the first day of London trading in 2017.The pound had earlier hit a two-week high against the euro after a survey suggested British manufacturing growth had climbed to a two-and-a-half-year high last month.The monthly purchasing managers' index (PMI) for the manufacturing sector rose to 56.1, the strongest reading since June ...

Markets - FXMM - Europe

Asian flash surge takes euro to $1.07 LONDON: A short-lived surge in the euro dominated this year's last day of trade in major foreign exchange markets on Friday, with dealers citing a handful of orders as driving the dollar to its lowest since Dec. 8.The euro climbed to as much as $1.07, two full cents higher, and despite an immediate retreat it was still up half a percent on the day at $1.0548 in midday trade in Europe. It was also 1 ...

Markets - FXMM - Europe

Dollar slips to 2-week low vs yen as Treasury yields fall LONDON: The dollar slipped to a two-week low against the yen on Thursday, mirroring a fall in US bond yields as weaker-than-expected economic data weighed on the greenback and waning risk appetite boosted Japan's safe-haven currency. Japan's Nikkei stock index - which tends to move in the opposite direction to the yen - shed 1.3 percent as Toshiba Corp dived 16 percent after news of potential massive writedowns led to a downgrade of its credit ...

Markets - FXMM - Europe

Dollar gains, sterling slides after Christmas LONDON: The dollar inched higher against the yen and a handful of other major currencies in holiday-thinned trade on Tuesday, with sterling by far the biggest faller as concerns over next year's Brexit negotiations continued to weigh heavily. Going into the final week of 2017, the trend remains towards a stronger US currency, although a 1 percent retreat for the greenback before Christmas suggested any attack on 120 yen and parity with the euro may ...

Markets - FXMM - Europe

Dollar dips but longer-term rally still seen in play LONDON: The dollar dipped for a second day on Thursday as traders booked profits ahead of a batch of U.S. data later in the day, though the greenback was still trading less than a percent away from a 14-year high touched earlier in the week.The U.S. currency surged last week when the U.S. Federal Reserve hinted that interest rates would be increased three times in 2017, after its first rate hike in a year, with ...

Markets - FXMM - Europe

Sterling slips to two-week low vs euro LONDON: Sterling fell to a two-week low against the euro on Thursday after a survey of British consumers showing a gloomy view of the economy's prospects next year kept it on the defensive against a perky single currency.It was sterling's fourth consecutive daily fall against the euro, its longest losing streak since August, as it got caught in the slipstream of the single currency's recovery from a 14-year low against the greenback this week.Weakness against ...