02102016Wed
Last update: Wed, 10 Feb 2016 10pm

Europe

Markets - FXMM - Europe

Russian authorities face pressure as ruble plumbs new lows against dollar MOSCOW: Russia's ruble on Thursday plummeted to new record lows against the dollar, tumbling by over 4 percent at one point on the back of low oil prices and putting pressure on authorities to react.The ruble -- which has already been battered over the past 18 months by low energy prices and Western sanctions over Ukraine -- fell briefly down to 85.99 to the dollar before recovering to around 84.3 in the afternoon.The ruble also fell against the euro, dropping to around 96.7 rubles per euro before firming back up to around 91.75.Russia's recession-hit economy relies on oil and gas for over half of its budget revenues and the authorities are coming under increasing pressure to act to stave off further damage to the currency. The Kremlin insisted that the ruble's plunge was "not a collapse", saying the authorities would be able to stop the rot."The exchange rate is really ...

Markets - FXMM - Europe

Russian ruble plumbs new depths against dollar MOSCOW: Russia's ruble on Thursday continued to plummet to new record lows against the dollar, tumbling by over 4 percent beyond 85 to the greenback on falling oil prices.The ruble -- which has already been battered over the past 18 months by low energy prices and Western sanctions over Ukraine -- also weakened to over 93 against the euro. Russia's recession-hit economy relies on oil and gas for over half of its budget revenues and ...

Markets - FXMM - Europe

Euro traders bet ECB won't rock the boat after stock sell-off LONDON: Expectations of a steady-as-she-goes message from the European Central Bank in the face of renewed financial market turbulence kept the euro strong against the dollar ahead of the bank's January decision on Thursday.With European stock markets recovering and oil prices stabilising after another dizzying sell-off on Wednesday, global investors' other currency safe haven of choice - the yen - retreated marginally against the dollar.The major currencies most tied to China, oil and the level ...

Markets - FXMM - Europe

Russian rouble tumbles to record low, stocks fall again LONDON: Russia's rouble fell sharply to a new record low on Thursday, following the latest slide in oil prices, and selling pressure remained firmly on emerging market stocks already suffering their worst start to a year.The benchmark emerging equity index was down 0.7 percent to fresh six-and-a-half year lows, led lower by Chinese mainland stocks and Russian shares , with dollar-denominated stocks touching a 13-month low.The rouble plunged through 83 to the dollar for the ...

Markets - FXMM - Europe

Russia's ruble hits all-time low against the dollar MOSCOW: The ruble hit a historic low on Wednesday as the dollar climbed past the 80.1 rubles level for the first time, exceeding the levels seen during the shock plunge of the Russian currency in December 2014.After a day of relative calm, the ruble resumed its downward spiral, breaking through the previous record low it hit on December 16, 2014, as oil prices, key to Russia's economy, test 12-year lows.The ruble was also trading at ...

Markets - FXMM - Europe

Sterling crawls up off 7-year low as UK joblessness hits decade low LONDON: Sterling crawled off a seven-year low against the dollar on Wednesday after data showed Britain's unemployment rate unexpectedly dropped to its lowest in a decade.The pound had fallen to a fresh trough just before the data, extending its 8 percent slide against the greenback over the past two months as investors push back bets on when UK interest rates will start to rise. Concerns over a possible "Brexit" from Europe have also weighed on ...

Markets - FXMM - Europe

Yen hits one-year high vs dollar as risk appetite wanes with oil LONDON: The yen soared on Wednesday after crude oil prices fell to near 13-year lows and risk appetite waned, with the dollar dropping to a one-year low as investors revised expectations of how much the Federal Reserve would raise interest rates.The dollar fell 1.3 percent to 115.97 yen in London trade, its lowest since January 2015. It recovered to 116.48 yen on reports an unnamed Japanese official said Tokyo was closely watching the market.The dollar ...