12042016Sun
Last update: Sun, 04 Dec 2016 09pm

Europe

Markets - FXMM - Europe

Trump worries hand dollar worst week in 12, jobs data eyed LONDON: The dollar inched up from a four-week low on Friday ahead of the US non-farm payrolls report later in the day but was on track for its worst week in 12, pressured by worries that Donald Trump could win next week's US presidential election. The greenback has fallen 1.2 percent this week against a basket of major currencies as Democrat Hillary Clinton's lead over Republican rival Trump in polls has dwindled following the re-emergence of a controversy over her private email server.The US currency hit a nine-month high last week as investors bet that the Federal Reserve would hike interest rates later this year, but a Trump victory is seen creating political turmoil, while a Clinton victory is seen as a continuation of the status quo. "Political uncertainty tends to be currency-negative because the markets find it more difficult to work out how things like trade policy and foreign ...

Markets - FXMM - Europe

Sterling sees best week since March as 'hard Brexit' fears ease LONDON: Sterling traded close to a four-week high on Friday and was heading for its best week since March, having jumped after England's High Court put a spanner in the government's plans to forge ahead with Britain's exit from the European Union. The battered pound has clawed back 2.5 percent against the dollar this week, with Thursday's court ruling adding to a run of political and economic developments perceived as positive by investors worrying over ...

Markets - FXMM - Europe

Sterling jumps as government loses Brexit ruling LONDON: Sterling surged by more than 1 percent on Thursday after a UK court ruled against government plans to begin the formal process of leaving the European Union without seeking the approval of parliament. The ruling offered hope to investors who worry Prime Minister Theresa May's cabinet is set on a "hard Brexit" and believe it might be tempered by a stronger hand for MPs, a majority of whom supported the status quo in June's ...

Markets - FXMM - Europe

Trump worries hit dollar; pound boosted by Brexit court ruling LONDON: Politics dominated currency markets on Thursday as US election worries kept the dollar weak against the yen while sterling rose more than one percent after a UK court ruled parliament would have to approve the start of Brexit talks. The dollar recovered some ground to trade at less than $1.11 per euro, helped by a Federal Reserve meeting on Wednesday that again pointed towards a rise in interest rates next month, also likely to ...

Markets - FXMM - Europe

Sterling surges towards $1.25 after BoE statement LONDON: Sterling jumped 1.5 percent to a four-week high on Thursday as UK government bond yields shot up, after the Bank of England scrapped plans to cut interest rates and said the chances of a rate hike had risen. The pound reached $1.2488 after the BoE's inflation report, its strongest since Oct. 7 - the day a "flash crash" briefly sent sterling plunging 10 percent in a matter of minutes. That left it almost 2 ...

Markets - FXMM - Europe

Sterling gains after Brexit ruling goes against government LONDON: Sterling jumped briefly past $1.24 for the first time in more than three weeks on Thursday after a UK court ruled the government must seek parliamentary approval to begin the formal process of leaving the European Union. The pound rose by just under a full cent to $1.2450 before retreating on signs that, as many in markets had expected, the government could appeal the ruling at a hearing in early December."Sterling has rallied again ...

Markets - FXMM - Europe

Sterling jumps above $1.23 for first time in 3 weeks LONDON: The pound jumped to its highest in three weeks against a broadly weaker dollar on Wednesday as the greenback suffered from worries that Donald Trump would win the US presidential election. Sterling climbed after news that London's High Court will deliver its verdict on Thursday on whether British parliament as a whole - rather than just the ruling Conservative government - must invoke Article 50, which will begin the formal process of leaving the ...