Europe
Thursday, 23 May 2013 14:30
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LONDON: The yen vaulted to two-week highs against the dollar and the euro on Thursday as a slide in equities encouraged profit-taking on the safe-haven currency's recent sharp falls.Concerns US monetary stimulus could be scaled back, after testimony by Federal Reserve Chairman Ben Bernanke, and weak Chinese data triggered a 7.3 percent plunge in Japan's Nikkei share index, its biggest one-day drop in two years.The dollar and the euro both fell more than 2 percent against the yen, and lost 1 percent against the Swiss franc , also seen as a safe haven.The dollar slid to a two-week low of 100.83 yen, having hit a 4-1/2 year peak of 103.74 yen after Bernanke told Congress the Fed could "in the next few meetings take a step down" in its bond buying.Analysts said the dollar could drop further against the yen if equities continued to fall. But they expected the trend ...
LONDON: The Swiss franc fell to its lowest in two years against the euro on Wednesday after Swiss National Bank chief Thomas Jordan did not rule out negative interest rates and said policymakers could adjust the currency cap if necessary.The euro rose to 1.2588 francs on trading platform EBS , its highest since May 2011, and up 0.4 percent on the day. The SNB imposed the currency cap of 1.20 francs per euro in Sept. ...
LONDON: The dollar rose against the yen on Tuesday after a minister rowed back on remarks suggesting the Japanese currency had weakened enough, but gains were capped before testimony from the head of the US central bank.Speculation the Federal Reserve will trim its bond purchases sooner than expected has mounted given signs of an improvement in the US labour market. Chairman Ben Bernanke testifies to Congress on Wednesday and his words will be combed for ...
LONDON: Sterling fell and gilts rose on Wednesday after Britain's April inflation rate undershot expectations.Sterling fell to $1.5184 from $1.5212 as the data was perceived by traders as giving incoming Bank of England chief Mark Carney more room to ease monetary policy later in the year. The euro rose to 84.675 from 84.58 pence.British June government bond futures extended gains by almost 20 ticks to hit a session high of 117.79 after the data, and ...
LONDON: The dollar edged up, gold steadied and European shares held near five-year highs on Tuesday as investors look out for US Federal Reserve signals on the future of its stimulus programme.Upbeat comments from Chicago policymaker Charles Evans have made Wednesday's release of minutes of the US central bank's last meeting and Fed chairman Ben Bernanke's testimony in Congress the same day the main focus for markets.The usually dovish Evans said on Monday that as ...
LONDON: Sterling recovered from a six-week low against the dollar on Monday as the US currency dipped after recent strong gains, but it was still vulnerable to signs the US central bank may scale back monetary stimulus.The pound could be lifted by Bank of England minutes on Wednesday and a string of UK data this week, including retail sales and revised first quarter gross domestic product figures, if they continue to point to an improving ...
WARSAW: Poland's finance ministry exchanged an equivalent of 6.5 billion euros ($8.3 billion) of funds denominated in foreign currency into zlotys on the open market last year, it said in a statement on Monday.In recent years, Poland has swapped European Union funds via state-owned lender BGK into local currency to prop up the zloty, keeping down the value of its foreign-denominated debt.Copyright Reuters, 2013 ...
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