01172017Tue
Last update: Tue, 17 Jan 2017 03pm

Europe

Markets - FXMM - Europe

Dollar retreats from 14-years high, Swedish crown has best day in 6 months LONDON: The dollar took a breather on Wednesday after reaching a 14-year high the previous day, while the Swedish crown chalked up its biggest rise in six months after the Riksbank voted to ease policy further only by the narrowest of margins. Sweden's central bank kept interest rates on hold at -0.50 percent and extended its bond-buying programme after a split board forced Governor Stefan Ingves to use his casting vote for the first time since 2008.The crown rose to its highest in more than two months against the euro.The dollar drifted lower, meanwhile, giving back some of the ground gained since the Nov. 8 US presidential election. The greenback has chalked up all its 4.5 percent gains for the year since the election, as traders have bet that Donald Trump's administration will go on a growth-boosting tax cut and fiscal spending spree.With no major economic data or policymaker speeches ...

Markets - FXMM - Europe

Sterling edges close to one-month lows vs dollar LONDON: Sterling edged close to a one-month low against the dollar on Wednesday, kept under pressure by uncertainty over Brexit negotiations and by a greenback buoyed by expectations for faster U.S. monetary tightening than previously forecast.Data showing Britain's public finances with a slightly bigger-than-expected deficit in November - but on track to meet new, less ambitious deficit reduction goals - had little impact on the pound, which was trading down 0.3 percent on the day ...

Markets - FXMM - Europe

Russia's rouble gains as global oil prices rise MOSCOW: The Russian rouble opened higher on Wednesday, helped by global oil prices which rose on expectations of a reduction in crude inventories in the United States.At 0730 GMT, the rouble was 0.6 percent stronger at 61.08 against the dollar and had gained 0.4 percent to trade at 63.58 versus the euro.Brent crude oil, the global benchmark for Russia's main export commodity, was up 0.6 percent to $55.70 a barrel as traders predicted that data ...

Markets - FXMM - Europe

Pound slips to one-month low amid Brexit transition uncertainty LONDON: Britain's pound slipped by as much as one percent to a one-month low against the dollar on Monday, adding to two straight weeks of losses, amid uncertainty over how the country will help businesses manage its exit from the European Union.Trade minister Liam Fox said on Sunday Britain may need a transitional agreement to bridge the gap for firms during negotiations with the EU, but it should not "buy back" into too many of ...

Markets - FXMM - Europe

Sri Lankan rupee closes lower on importer dollar demand COLOMBO: The Sri Lankan rupee closed weaker on Monday on importer dollar demand, as the market braced for declines in the local currency with the central bank raising the spot reference rate following a hike in US interest rates, dealers said. The US Federal Reserve raised interest rate by 25 basis points on Wednesday and signalled a faster pace of increases in 2017 as central bankers adapted to the incoming Donald Trump administration's promises of ...

Markets - FXMM - Europe

'Trumpflation' trade keeps dollar near 14-year highs LONDON: The dollar steadied close to its highest levels in 14 years on Monday, underpinned by expectations that a fiscal expansion planned by US President-elect Donald Trump will boost inflation and lead to a faster pace of interest rates hikes. The greenback surged to its highest since January 2003 against a basket of currencies last week and threatened parity with the euro, after the US Federal Reserve hinted that rates could rise as many as ...

Markets - FXMM - Europe

Pound slips further on uncertainty over Brexit transition LONDON: Britain's pound slipped half a percent against the dollar on Monday, adding to two straight weeks of losses, amid uncertainty around how Britain will help businesses manage the exit from the European Union. Trade minister Liam Fox said on Sunday Britain may need a transitional agreement to bridge the gap for firms during negotiations with the EU, but it should not "buy back" into too many of the bloc's regulations.Meanwhile, the Financial Times reported ...