08262016Fri
Last update: Fri, 26 Aug 2016 01am

Europe

Markets - FXMM - Europe

Sterling slips to one-month low, pulled down by housing data LONDON: A tick up in US Treasury yields and more signs of weakness in Britain's housing market pushed sterling back below $1.30 on Thursday to its lowest in a month, down just over a third of a percent on the day.Dealers said volumes were limited, but the latest report from the Royal Institute of Chartered Surveyors added to the evidence the British economy was slowing, which has weighed on the pound since June's vote to leave the European Union.Sterling, which has fallen almost 3 percent since the Bank of England announced a package of policy easing last week, dropped 0.35 percent to $1.2948 in morning trade in London. It fell 0.1 percent to 86.07 pence per euro, also a one-month low.On Thursday, the wealth management arm of Switzerland's UBS became the latest to cut its forecasts for sterling over the next three months, predicting a fall to $1.25."In our view, ...

Markets - FXMM - Europe

Sterling struggles as gilt yields hit record lows LONDON: A fall in returns on UK government debt to the lowest on record knocked half a percent off sterling's value against the euro on Wednesday while a recovery against a broadly weaker US dollar stalled around $1.30. After a week in which sterling has suffered from the Bank of England's aggressive moves to ease monetary policy and a volley of promises from policymakers that more may follow, a survey for the bank added to ...

Markets - FXMM - Europe

Dollar drops as Fed rate rise prospects reassessed LONDON: The dollar fell against a basket of currencies on Wednesday as investors re-evaluated whether the Federal Reserve will raise interest rates this year, which also sent the higher-yielding Australian dollar to its loftiest level since late April.The U.S. dollar sagged against the euro and the yen after downbeat productivity data sapped some of the momentum it had gained from last week's robust jobs report.U.S. Treasury yields fell after the productivity report suggested the economy ...

Markets - FXMM - Europe

Sterling falls to 1-month low, hurt by McCafferty's views LONDON: Sterling hit a one-month low on Tuesday, hurt by comments from Bank of England policymaker Ian McCafferty who said in an op-ed for the Times that more quantitative easing was likely to be required if the UK's economic decline worsens.In early deals in London, the pound fell 0.5 percent to $1.2968, its lowest since July 12. The euro was up 0.4 percent at 85.35 pence, also its highest in a month.Speculators have been selling ...

Markets - FXMM - Europe

Sterling pinned near 3-wk lows, bets against pound at record high LONDON: Sterling traded close to its weakest in three weeks against the dollar on Monday amid widening rate differentials between the United States and Britain after robust jobs numbers strengthened speculation of a rate hike by the Federal Reserve. In contrast, the Bank of England kick-started its quantitative easing programme on Monday, have lowered interest rates to record lows last week to stave off an economic slowdown in Britain after the Brexit vote. The BoE ...

Markets - FXMM - Europe

Currencies give up some ground as data-heavy week starts BUDAPEST/BUCHAREST: The zloty and the forint gave up some of last week's gains on Monday as some investors were cautious before the publication of second-quarter economic output data in Central Europe later this week.Both currencies eased 0.2 percent against the euro by 1342 GMT.The zloty stayed near 15-week highs, trading at 4.2845, and the forint near 2-month highs, at 311.15.Second-quarter economic output figures due this week in the region are expected to show faster growth ...

Markets - FXMM - Europe

Sterling dives, FTSE flies, after BoE cuts rates and resumes QE LONDON: Sterling sank to an eight-day low and Britain's main share index jumped on Thursday, after the Bank of England surprised markets with a 60 billion-pound bond-buying programme and cut interest rates to record lows. The BoE's interest rate cut, the first since 2009, was widely expected.But economists had been divided on whether the central bank would revive its bond purchases, and most of those who had been expecting it had forecast a smaller figure. ...