Monday, 22 April 2013 14:15
Posted by Shoaib-ur-Rehman Siddiqui
ZURICH: The Swiss franc was little changed against the US dollar on Monday, with currency dealers hesitant to take bigger positions ahead of major European data later in the week.Traders are expected to watch German PMI data on Tuesday and a monthly business survey by the Munich IFO economics institute on Wednesday, analysts said.The fact that the Group of 20 countries stopped short of criticising Japan's reflationary policies that have significantly weakened its currency also muted any impact a stronger statement could have had on the franc, according to economists.In a communique after a two-day meeting, the G20 simply said it would be "mindful" of possible side effects from extended periods of monetary stimulus, without singling out Japan as some in the markets had feared.Closer to home, the Swiss National Bank garnered support capping the soaring franc in September 2011 to help stave off recession and the threat of deflation, ...
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ZURICH: The Swiss franc was little changed against the US dollar on Monday, with currency dealers hesitant to take bigger positions ahead of major European data later in the week.Traders are expected to watch German PMI data on Tuesday and a monthly business survey by the Munich IFO economics institute on Wednesday, analysts said.The fact that the Group of 20 countries stopped short of criticising Japan's reflationary policies that have significantly weakened its currency also muted any impact a stronger statement could have had on the franc, according to economists.In a communique after a two-day meeting, the G20 simply said it would be "mindful" of possible side effects from extended periods of monetary stimulus, without singling out Japan as some in the markets had feared.Closer to home, the Swiss National Bank garnered support capping the soaring franc in September 2011 to help stave off recession and the threat of deflation, ...
LONDON: Sterling dipped against the dollar on Monday and looked vulnerable after a second ratings agency downgraded Britain, with investors also wary of the risk of weak growth data later in the week.Fitch Ratings stripped the country of its triple-A credit rating on Friday, citing a weaker economic and fiscal outlook, and following in the footsteps of fellow agency Moody's.Analysts said although the downgrade came as no great surprise to investors, given recent the fragile ...
LONDON: The yen slipped against the dollar towards the 100 level on Monday, after the Group of 20 countries refrained from criticising Japan's reflationary policies that have significantly weakened its currency.The dollar last stood at 99.71 yen, up 0.2 percent on the day. It had earlier climbed to as high as 99.90 yen which was within striking distance of a four-year high of 99.95 set on April 11 and the 100 level, where option barriers ...
ZURICH: The Swiss franc on Friday rose against the yen that was down against a basket of currencies after Japan eased concerns its bold monetary stimulus could come under criticism at the Group of 20 meeting.Japanese Finance Minister Taro Aso said the G20 had accepted Tokyo's stance that the Bank of Japan's aggressive monetary expansion is aimed at beating deflation and not at competitively weakening the yen."We expect the yen to continue its downward trend ...
LONDON: The yen fell on Friday as macro funds resumed selling after Japan said the Group of 20 accepted its stance that its aggressive monetary expansion was aimed at beating deflation and not at competitive devaluation.The comments by Japanese Finance Minister Taro Aso eased concerns that the unprecedented monetary stimulus, which was announced earlier this month and triggered a drop in the yen to a four-year low versus the dollar last week, could be criticised ...
NEW YORK: The euro edged higher against the dollar on Thursday as more signals of a weakening US economic recovery lifted it from its biggest daily drop in 10 months in the previous session.The yen slipped against the dollar and euro as investors believed Japan was unlikely to face much criticism of its aggressive monetary easing at a meeting of the Group of 20 countries beginning on Thursday in Washington.The euro lost 1.1 percent on ...
