05012016Sun
Last update: Sun, 01 May 2016 10pm

Europe

Markets - FXMM - Europe

Yen stalls as finance minister warns on intervention LONDON: Gains for stock markets and a warning of possible intervention from Japan's finance minister knocked back the yen on Friday after a week of startling gains. The yen surged at one point by as much as 2 percent against the dollar on Thursday, and Minister Taro Aso responded early on Friday by warning rapid currency moves were "undesirable," that the yen's were "one-sided" and that Japan would take steps as needed. That is language that Tokyo has used in the past to flag intervention, and the yen's run to 17-month highs against the dollar has required investors to believe it would hold fire at least until after next week's G20 meetings in Washington. "Of course there is some fear in the market," said Manuel Oliveri, a strategist at Credit Agricole in London. "But one has to bear in mind that there is the G20 agreement not to, and that ...

Markets - FXMM - Europe

Zloty hits three-week low on worry over mortgage law, credit rating BUDAPEST/WARSAW: The zloty weakened to a three-week low against the euro on Thursday as concern resurfaced over policy risks in Poland. Other Central European currencies rose, with the crown gaining after the Czech Republic released robust economic data. The zloty fell two-thirds of a percent to 4.2935 to the euro by 1347 GMT. It also reached a three-week low against the forint. The forint gained 0.25 percent against the euro. Markets ignored comments by central ...

Markets - FXMM - Europe

Rouble falls back on doubts over oil price rally MOSCOW: The Russian rouble fell back on Thursday after strengthening in the previous two days, suggesting little confidence that the latest bounce in the price of oil, the country's main export, will last.At 0745 GMT, the rouble was 0.4 percent weaker against the dollar at 67.84 and had lost 0.4 percent to 77.33 versus the euro.The rouble had risen 1 percent on Wednesday, lagging behind the oil price which rebounded after weekly U.S. government data ...

Markets - FXMM - Europe

Dollar sinks again after Fed remains cautious LONDON: The dollar's fall against the yen deepened on Thursday after minutes of the U.S. Federal Reserve's most recent policy meeting offered little optimism over the state of global growth and the prospect of a rise in interest rates in June.The U.S. currency, hammered since late March by the latest retreat in expectations for any further rises in U.S. rates, fell 1 percent to less than 109 yen, its weakest in 17 months.With oil up ...

Markets - FXMM - Europe

Sterling skids to weakest since November 2013 LONDON: Sterling fell to its weakest level in almost 2-1/2 years against a basket of currencies on Thursday, with demand sapped by persistent concerns that Britain could vote to leave the European Union in a referendum in June.The cost of hedging against big falls in sterling's exchange rate against the euro over the next three months soared to a seven-year high. The price for hedging sterling/dollar volatility jumped above 16 percent for the first time ...

Markets - FXMM - Europe

Fed's policy caution sends dollar to 17-month low against yen LONDON: The yen powered to a 17-month high against the dollar on Thursday, with the U.S. currency under pressure after minutes of the Federal Reserve's meeting last month underscored its caution about future interest rate hikes.The yen's surge, up around 9.5 percent against the dollar this year despite the imposition of negative rates, led to more warnings of action from the Japanese, who are concerned about a strong currency dampening exports.A senior Japanese finance ministry ...

Markets - FXMM - Europe

Zloty firms slightly, Poland seen keeping rates on hold BUDAPEST/WARSAW: Central European government bond prices tracked euro zone peers lower on Wednesday in a broadly stable market, while the zloty recouped part of the previous day's losses as traders anticipated Poland's central bank will hold interest rates.The region's other currencies also steadied after losses on Tuesday, as did its share markets as oil futures recovered from one-month lows.The zloty firmed 0.2 percent against the euro to 4.257 by 1016 GMT, still well away from ...