08242016Wed
Last update: Wed, 24 Aug 2016 11am

Europe

Markets - FXMM - Europe

Sterling hits highest since mid-July as dollar weakens LONDON: Sterling rose more than 1 percent against the dollar on Tuesday to near its highest level for three weeks, as the greenback fell broadly on the view that weak US data would delay an interest rate hike from the Federal Reserve. The pound had already risen on Tuesday after a survey of Britain's construction industry came in slightly better than expected, despite showing the sector shrinking at its fastest pace in seven years. By 1410 GMT it was 1.1 percent up on the day at $1.3325 , its strongest since July 15, as the dollar hit a five-week low against a basket of major currencies. The greenback had been on its best run of weekly gains for 1-1/2 years until last week, when first a meeting of the Fed's rate-setting FOMC committee did not provide any near-term rate hike signal and then a much-weaker-than-expected set of US growth data ...

Markets - FXMM - Europe

Sterling ticks higher after less-dire-than-expected construction data LONDON: Sterling ticked higher on Tuesday after a survey of Britain's construction industry came in slightly better than expected, despite showing the sector shrinking at its fastest pace in seven years.The monthly survey of purchasing managers in the construction sector inched down to the lowest reading since June 2009, well into contraction territory. But the result was better than all forecasts in a Reuters poll of economists.The numbers nevertheless provide another sign that Britain's economy ...

Markets - FXMM - Europe

Russian rouble mixed in early trade; oil still key MOSCOW: The Russian rouble was mixed early on Tuesday, rising against the dollar but falling against the euro, and analysts said its direction would mainly be determined by oil price movements.At 0725 GMT, the rouble was 0.1 percent stronger against the dollar at 66.82 but had lost 0.3 percent to trade at 74.87 versus the euro.Brent crude oil, a global benchmark for Russia's main export, was up 0.3 percent at around $42.3 a barrel after ...

Markets - FXMM - Europe

Euro hits 5-week high, yen up after stimulus announced LONDON: The euro rose above $1.12 for the first time in more than a month on Tuesday while a cut in Australian interest rates failed to weaken the Australian dollar as the fallout of poor GDP data continued to weigh on the U.S. currency.The yen hit its strongest in three weeks, pushing past 102 yen per dollar for the first time since early July after Japan's cabinet approved a package of spending including 13.5 trillion ...

Markets - FXMM - Europe

Sterling steadies as traders await post-referendum construction survey LONDON: Sterling trod water against the dollar and euro on Tuesday, as traders awaited a survey from the construction sector that will provide more evidence of how Britain's economy is performing since its vote to leave the EU.The equivalent survey of purchasing managers (PMI) in the manufacturing sector for July brought worrying signs on Monday. It had been forecast to replicate the results of a one-off flash poll two weeks ago but instead was even ...

Markets - FXMM - Europe

Sterling inches lower after PMI index dips again LONDON: Sterling pulled back on Monday from highs hit against the dollar late last week, as a manufacturing survey brought more worrying signs on the economy before a Bank of England meeting expected to cut interest rates to a record low. The survey of purchasing managers for July had been forecast to replicate the results of a one-off flash poll two weeks ago. Instead, it was slightly worse, another hint of an economic backlash from ...

Markets - FXMM - Europe

Sterling inches lower after PMI index dips again LONDON: Sterling pulled back on Monday from highs against the dollar hit late last week, as a manufacturing sector survey brought more worrying signs on the economy ahead of a Bank of England meeting expected to cut interest rates to a new record low.The survey of purchasing managers for July had been forecast to replicate the results of a one-off flash poll two weeks ago but was instead slightly worse, another hint of a growing ...