06252016Sat
Last update: Sat, 25 Jun 2016 11am

Europe

Markets - FXMM - Europe

Swiss franc hits seven-week high on safe-haven flows LONDON: The Swiss franc hit a seven-week high against the euro on Thursday, as investors flocked towards safe havens on worries that Britain will vote to leave the European Union at a referendum in two weeks' time. Though odds offered by betting websites and bookmakers point towards a vote for Britain to remain in the EU, polls have not offered a clear picture of what the outcome of the June 23 ballot might be. Investors worry that a Brexit would weigh on the economies of not just Britain, but the rest of Europe too. The Swiss franc climbed 0.2 percent on the day to 1.0903 francs per euro on trading platform EBS, its strongest since April 19.The yen, another safe-haven currency, also climbed sharply, hitting a more-than-three-year high against the euro. Copyright Reuters, 2016 ...

Markets - FXMM - Europe

Poland talks down zloty, bond auctions robustly bid BUDAPEST: Central European currencies weakened on Thursday as the Polish government talked down the zloty and Romania reported a rise in its trade deficit just after it raised public-sector wages.But auctions of Hungary, Poland and Romania's high-yielding government bonds drew healthy demand as risk appetite fell in global markets, with Japan leading a decline by stocks in Asia and Europe.Yields dropped and Hungary and Romania sold more bonds than planned .Hungary's 10-year debt traded at ...

Markets - FXMM - Europe

Ruble rocks up to seven-month high MOSCOW: Russia's ruble hit a seven-month high Thursday on the back of rising oil prices, bolstering calls for the central bank to cut its main interest rate at a meeting Friday.The ruble strengthened to around 63.40 against the dollar -- its best since November -- and 72.27 to the euro before weakening back slightly.The recovery comes as the price of oil -- a major source of income for Russia's energy-dependant economy -- has nearly doubled ...

Markets - FXMM - Europe

Crisis-era red flag from dollar FX market flies high again LONDON: A shortage of dollars and high demand for the currency globally are stretching certain dollar-based rates to levels more associated with periods of extreme market stress, raising a red flag for the wider financial system. Record-low investment returns are forcing investors in the euro zone and Japan to buy US bonds, which is having the negative and potentially costly effect of depressing US yields and the profitability of the country's banks. On the surface, ...

Markets - FXMM - Europe

Yen, dollar gain on safe haven plays LONDON: A grim mood on global financial markets sent investors searching for the traditional security of the dollar and yen on Thursday, driving both higher against a euro weakened by the prospect of prolonged low inflation and negative interest rates. A 1.5 percent surge for the New Zealand dollar after interest rates there were kept on hold had been by far the biggest move on major currency markets in Asian trading and early in Europe's ...

Markets - FXMM - Europe

Swiss franc hits seven-week high on safe-haven flows LONDON: The Swiss franc hit a seven-week high against the euro on Thursday, as investors flocked towards safe havens on worries that Britain will vote to leave the European Union at a referendum in two weeks' time. Though odds offered by betting websites and bookmakers point towards a vote for Britain to remain in the EU, polls have not offered a clear picture of what the outcome of the June 23 ballot might be. Investors ...

Markets - FXMM - Europe

Sterling slips on subdued risk appetite LONDON: Sterling slipped on Thursday as investors ditched riskier assets in favour of safe havens such as the yen, concerned that Britain will vote to leave the European Union at a referendum in just two weeks' time.Worries over a possible Brexit have dominated since late last year, driving a more than 10 percent fall on a trade-weighted basis between mid-November and mid-April.While it has recovered from April's lows, up 3 percent in the past two ...