05312016Tue
Last update: Tue, 31 May 2016 09pm

Europe

Markets - FXMM - Europe

Commodity currencies climb as oil prices hit 6-month high LONDON: Commodity-linked currencies climbed on Tuesday as oil prices reached six-month highs, while a risk-on mood across markets dampened demand for the yen and the dollar ahead of US inflation data later in the day. The Australian dollar was the biggest climber among major currencies, gaining as much as 1.2 percent against its US counterpart.Already lifted by rallying oil prices, the Aussie was given a further boost by minutes from the Reserve Bank of Australia (RBA), which tempered expectations of an interest rate cut.Oil exporter Norway's currency hit a two-week high of 9.2090 crowns per euro, and the Canadian and New Zealand dollars , also commodity-dependent, climbed."The Aussie ...is pulling the other commodity currencies up," said RBC Capital Markets currency strategist Adam Cole in London. "The expectation was that the minutes of the RBA meeting would have set us up for another cut in June, and that was very much ...

Markets - FXMM - Europe

Rouble continues gains as oil approaches $50 per barrel MOSCOW: The Russian rouble strengthened further on Tuesday, continuing gains from Monday as the international oil price hit new 2016 highs close to $50 per barrel. At 0800 GMT, the rouble was 0.7 percent stronger against the dollar at 64.44 and had gained 0.6 percent to 73.03 versus the euro.Brent crude oil, a global benchmark for Russia's main export, was up 0.7 percent at $49.3 a barrel, after touching a 2016 high of $49.47 earlier ...

Markets - FXMM - Europe

Sterling rally stalls on soft UK inflation data LONDON: A below forecast UK inflation reading halted sterling's rise on Tuesday after a pair of polls showed the "In" camp well ahead in the run-up to Britain's June 23 referendum on European Union membership. Sterling slipped to $1.4460 after the data was released from $1.4495 beforehand, still up 0.4 percent on the day. The euro trimmed losses, to trade at 78.295 pence , climbing from 78.17 before the data was released.Data from the Office ...

Markets - FXMM - Europe

Sterling near 3-week lows, cost of hedging volatility soars LONDON: Sterling edged up from a three-week low against the dollar on Monday, while the cost of hedging against sharp falls in the coming two months soared, amid a slew of warnings about the impact of a potential Brexit.Most recent polls ahead of Britain's June 23 referendum on European Union membership show the outcome is still too close to call. The latest telephone poll from ICM showed the "Remain" camp holding an eight-point lead over ...

Markets - FXMM - Europe

Sterling stuck at 3-week lows as Brexit noise grows LONDON: Sterling dipped to a three-week low against the dollar on Monday after comments by leading Brexit campaigner Boris Johnson added to an increasingly fraught debate over Britain's membership of the European Union.With most major currencies steady, the pound fell to $1.4333, inching past lows hit on Friday after a batch of stronger economic data out of the United States boosted the dollar.Compared to the previous close, it was also down 0.1 percent at 78.87 ...

Markets - FXMM - Europe

Yen weakens on Japan intervention talk before G7 meets LONDON: The yen fell on Monday as Japan, readying to host a Group of Seven meeting, again signalled its willingness to intervene in the market, driving the currency to erase early gains made on disappointing Chinese data.Vice finance minister for international affairs Masatsugu Asakawa told the Nikkei newspaper G7 and G20 countries had discussed how to deal with disorderly currency moves, indicating it was a shared understanding that market interventions were justified if exchange rate ...

Markets - FXMM - Europe

Sterling stuck near 3-week lows as Brexit noise grows LONDON: Sterling recovered from a near three-week low against the dollar on Monday as comments by leading Brexit campaigner Boris Johnson added to an increasingly fraught debate over Britain's membership of the European Union. With most major currencies steady, the pound traded less than 10 ticks away from the low of $1.4340 it hit after a batch of stronger economic data out of the United States on Friday boosted the dollar.Compared to the previous close, ...