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Last update: Mon, 23 Jan 2017 05am

Europe

Markets - FXMM - Europe

Sterling weakens to $1.25, eyes on BoE, sales LONDON: Sterling fell almost half a percent in morning trade in Europe on Thursday, suffering along with a raft of other currencies against the dollar after the U.S. Federal Reserve raised its forecasts for interest rates next year.The pound has been threatening to break past resistance around $1.27-$1.28 all week but in early deals in London it was struggling to hold above $1.25 after the dollar's surge overnight.It was flat at 83.78 pence per euro ahead of a busy morning that includes November retail sales and the Bank of England's monthly monetary policy decision at 1200 GMT, which is expected to bring no changes."It will be interesting to see what type of outlook the BoE offers in light of more solid data and (a) resilient UK economy in the face of Brexit," analysts from currencies exchange LMAX said in a morning note."The market has seen a sizable correction towards major ...

Markets - FXMM - Europe

Dollar makes fresh charge after Fed hikes rates LONDON: The dollar charged to an almost 14-year high and government bond yields rose sharply on Thursday, after the Federal Reserve hiked U.S. interest rates and signalled more would follow at a faster pace next year.European shares got off to a solid start with banks up almost 2 percent, cheered by the prospect of a boost from higher rates to their lending profits, but the main action was elsewhere.Bond markets saw yields on short-term U.S. ...

Markets - FXMM - Europe

Dollar steady ahead of Fed rate decision LONDON: The dollar was steady on Wednesday in the run in to the Federal Reserve's policy statement later in the day, with an almost 1 percent fall this week showing minimal expectations the Fed will ramp up its forecasts for future rises in interest rates.The Fed is seen as all but certain to raise its main rate by a quarter point to 0.50-0.75 percent. It will be Chair Janet Yellen's tone, and new forecasts for ...

Markets - FXMM - Europe

Sterling pares early gains as BoE meeting looms LONDON: Sterling fell late on Tuesday after surging on higher-than-expected inflation numbers and softer government rhetoric on Britain's planned departure from the European Union. Focus was shifting to US Federal Reserve and Bank of England policy statements over the next two days but traders said the pound would continue to struggle to break through resistance above $1.27 which has held for the past fortnight. Consumer prices rose 1.2 percent last month year-on-year, the Office for ...

Markets - FXMM - Europe

Sterling rises after Hammond argues for staggered Brexit LONDON: Sterling rose on Tuesday as investors awaited British inflation data for November, helped by finance minister Philip Hammond's comments supporting a staggered transition period for the country's exit from the European Union.Hammond backed the idea on Monday of a transition period to smooth the Brexit process and said EU countries also stood to gain from a gradual British withdrawal.That drove sterling as high as $1.27 overnight and it was trading 0.1 percent stronger on ...

Markets - FXMM - Europe

Dollar steadies as pre-Fed nerves dominate LONDON: The dollar steadied against the yen and euro on Tuesday after its weakest day in a week, with markets still uneasy that a Federal Reserve meeting ending on Wednesday may provoke more investors to cash in the greenback's recent gains.Barclays was the latest major bank to cast some doubt on a dollar rally extending into a first quarter set to be dominated by the first policy initiatives from the Trump administration.While investors have bet ...

Markets - FXMM - Europe

Sterling heads for first week of falls in four LONDON: Sterling was lifted on Friday by data showing Britain's trade deficit narrowed more than expected in October, although the pound remained on track for its first weekly fall in four. The currency was hit this week by lawmakers saying they would stick to Prime Minister Theresa May's Brexit timetable and by weaker-than-expected industrial output data. Friday's data showed construction output fell slightly on the month and continued a downward trend in the three months ...