Europe
Thursday, 02 May 2013 14:53
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LONDON: The euro slipped against the dollar on Thursday in anticipation of the European Central Bank cutting interest rates in an attempt to support a flagging economy.The ECB is expected to cut its benchmark refinancing rate by 25 basis points to a record low 0.5 percent, its first cut in 10 months. The decision is due at 1145 GMT. ID:nL6N0DH335]A rate cut would probably be negative for the euro, but traders and analysts said any drop would be limited because the move has already been widely flagged.Any negative impact on the euro against the dollar may also be limited after the US Federal Reserve on Wednesday said it was ready to step up asset purchases if needed.The euro was down 0.15 percent at $1.3158, pulling away from a two-month high of $1.3243 hit on Wednesday on trading platform EBS after weaker-than-forecast US private payrolls figures."I would expect a muted reaction ...
LONDON: Sterling slipped against the dollar on Tuesday, slipping away from a two-and-a-half month high, in the absence of any new evidence of further improvement in the UK economy.The US Federal Reserve begins a two-day meeting on Tuesday, also making investors cautious.The pound was down 0.1 percent at $1.5490, off a Monday's peak of $1.5547 when it stopped shy of its 100-day moving average of $1.5567 and its $1.5561 21-week average.The currency has risen since ...
LONDON: The euro fell on Tuesday, hurt by slowing consumer demand in Germany, although losses are likely to be limited by expectations the Federal Reserve's ultra-loose policy will be maintained and weigh on the dollar.German retail sales fell for the second month running in March, confounding forecasts of a rise.Coming a day after April inflation in the euro zone's largest economy hit its lowest in more than two years, the numbers bolstered expectations of a ...
ZURICH: The Swiss franc slipped against the dollar on Tuesday, moving in tandem with the euro which pared gains recorded on Monday after Italy ended two months of political uncertainty by forming a government."Market relief following the formation of a new government in Italy was evident in the positive reception to Italy's bond auction yesterday," said Mitul Kotecha of Credit Agricole."Even so, a likely policy rate cut by the ECB and potential hints at future ...
NEW YORK: The euro pushed higher against the dollar on Monday as Italy's at least temporary settling of its political stalemate boosted confidence in the eurozone.European markers jumped and sovereign bond yields fell, further helping the euro, after new Prime Minister Enrico Letta cobbled together a fresh coalition government and vowed to reverse Italy's austerity policy.In addition, modest US economic data shored up the view that the Federal Reserve, beginning a two-day policy meeting on ...
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