07292016Fri
Last update: Fri, 29 Jul 2016 03am

Europe

Markets - FXMM - Europe

Yen hits 3-week low, sterling steps up ahead of BoE meeting LONDON: The yen sank across the board on Thursday as the upbeat mood on global stock markets stretched into a sixth day and media reports stoked speculation the Bank of Japan could take steps to fund government spending directly.Sterling made solid gains against the yen, the dollar and the euro ahead of a Bank of England meeting widely expected to cut interest rates in aid of offsetting the blow to the economy of last month's vote to leave the European Union.The New Zealand dollar also fell after central bankers there said they would issue an economic update before next month's policy meeting - an unusual step read by some as a sign the Reserve Bank was preparing to cut rates.But it was the yen's moves that grabbed the most attention, sliding past 105 per dollar, with dealers citing a Bloomberg report saying ex-Federal Reserve chief Ben Bernanke had raised the ...

Markets - FXMM - Europe

Sterling rises ahead of Bank of England policy decision LONDON: Sterling strengthened amid a more upbeat mood across global markets on Thursday, as investors focused on a Bank of England policy meeting that looks set to yield the first cut in British interest rates in seven years.Governor Mark Carney clearly flagged two weeks ago that stimulus was on its way, signalling the economy was in safe hands following the shock decision by voters to pull Britain out of the European Union.The central bank is ...

Markets - FXMM - Europe

Russian rouble shrugs off oil volatility as dividends support MOSCOW: The Russian rouble strengthened on Thursday, supported by companies' accumulation of roubles for dividend payments and shrugging off a plunge in the oil price on Wednesday.At 0800 GMT, the rouble was 0.4 percent stronger against the dollar at 63.59 and had gained 0.3 percent to 70.57 versus the euro.Brent crude oil, a global benchmark for Russia's main export, was up 0.6 percent at $46.6 a barrel, after sliding by almost 5 percent on Wednesday, ...

Markets - FXMM - Europe

Serbia's central bank buys euros to stem dinar gains BELGRADE: Serbia's central bank purchased euros on Wednesday to rein in dinar gains due to increased demand for the local currency and low liquidity in the interbank market, dealers said. The central bank, which a day earlier purchased 40 million euros, started buying the common currency as the dinar traded at around 123.20 to the euro, 0.14 percent stronger than the previous close. After the intervention, the dinar weakened modestly to 123.25 at 1355 GMT.Copyright ...

Markets - FXMM - Europe

Yen gives up post-Brexit gains as Japan stimulus hopes boosts risk LONDON: The safe-haven yen hit a more than two-week low against the dollar on Tuesday and fell 1 percent versus the euro, as a weekend election victory by Japan's ruling coalition fanned expectations of more stimulus and bolstered risk sentiment.Gains in global stock markets saw investors cut holdings in the yen, which had risen on safe haven demand after Britain's vote to leave the European Union added to worries over global growth. But Tuesday's drop ...

Markets - FXMM - Europe

Sterling bounces back as markets cheer May appointment LONDON: Sterling rose along with UK government bond yields on Tuesday as the early anointing of interior affairs minister Theresa May as prime minister fed into a generally improved global mood among financial investors.The 1.2 percent rise in the pound against the dollar put it on track for its biggest daily rise since Britain's vote to leave the European Union on June 23 drove sterling to 31-year lows.The pound also gained half a percent to ...

Markets - FXMM - Europe

Sterling rises on Leadsom speculation, trades above $1.29 LONDON: Sterling turned higher on Monday, on reports that Andrea Leadsom, one of the two candidates from the ruling Conservative Party to succeed Prime Minister David Cameron, is due to make a statement at 1115 GMT.Traders said there was talk she might withdraw from a leadership contest due to be decided by Sept. 9 leaving the door open for Interior Minister Theresa May, who was in the "Remain" camp during the Brexit vote, as the ...