Europe
Monday, 29 April 2013 19:56
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LONDON: Sterling hit two-and-a-half month highs against the dollar and a trade-weighted basket of currencies on Monday as investors cut bets on more monetary easing by the Bank of England in the near term. Better-than-expected British economic growth contrasted with below-forecast first-quarter gross domestic product in the United States and put the dollar under broad pressure. The pound could get a further boost if British purchasing managers' surveys (PMIs) on Wednesday, Thursday and Friday show economic activity continued to improve in April. "Both internal and external factors are pointing the compass north for sterling. If we get expansion in services PMI on Friday and we get a disappointing US payrolls figure then we could see sterling close to $1.57," said Nawaz Ali, market analyst at Western Union Business Solutions. Figures last week showed Britain avoiding recession by growing 0.3 percent in the first quarter, much more than the 0.1 percent ...
LONDON: The euro rose against the dollar on Monday, lifted by the formation of a government in Italy, but was held in check by expectations of a rate cut by the European Central Bank.Demand for bonds from the more indebted euro zone countries helped buoy the currency after centre-left politician Enrico Letta took over as Italy's prime minister, ending a deadlock.The euro was up 0.5 percent on the day at $1.3095, with hedge funds cited ...
ZURICH: The Swiss franc strengthened against the dollar on Monday as traders continued to reduce their exposure to the greenback after data last week showed the US economy grew at a slower-than-expected pace in the first quarter.The greenback retreated after data on Friday showed US gross domestic product expanded at a 2.5 percent annual rate in the first quarter, falling short of market expectations for 3.0 percent growth.The Swiss currency has broadly tracked the euro ...
BUCHAREST: Romania aims to sell 3.7 billion lei ($1.1 billion) of leu currency bills and bonds in May on the domestic market, finance ministry data showed on Friday. That compares with 2.5 billion lei worth of bonds sold on the domestic market in April, plus 581 million euros in three-year bonds. In May, debt managers will sell 5-, 10- and 15-year leu-denominated bonds, as well as one-year treasury bills. Romanian domestic debt has rallied this ...
LONDON: The dollar was weaker against the euro and yen on Thursday, hurt by a batch of soft data that have raised concerns about the pace of economic recovery in the United States.Gains for the single currency were likely to be limited by strong expectations of an interest rate cut by the European Central Bank next week. Senior sources involved in the deliberations say momentum is building for action to help a euro zone economy ...
ZURICH: The Swiss franc traded close to a six week low against the euro on Thursday as investors bought the single currency to cover short euro-dollar positions taken in the wake of data showing weakening business sentiment in Germany.Market chatter continued to circulate that the Swiss National Bank could raise the 1.20 francs per euro floor it imposed 19 months ago to stave off recession, keeping the franc under pressure.The SNB has declined to comment ...
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