09252016Sun
Last update: Sun, 25 Sep 2016 06pm

Europe

Markets - FXMM - Europe

Sterling drops on talk Britain's divorce from EU to start early 2017 LONDON: Sterling fell 1 percent against the dollar on Friday, on speculation that Britain could formally begin the process of leaving the European Union early next year. However, the pound was on track for its best weekly performance in a month after a slew of robust data drove speculators to trim record high bets against the British pound. Data this week covering the month following Britain's June 23 referendum to leave the EU has surprised on the upside, with July consumer prices, retail sales and jobless claims all coming in better than expected. Despite the better data, markets continue to price around 10 basis points of further easing by year-end, and traders say that should cap gains. In afternoon trade, it lost further ground on a Bloomberg report that Britain could trigger Article 50 early next year. Triggering Article 50 of the EU's Lisbon Treaty formally begins the process of ...

Markets - FXMM - Europe

Sterling reaches two-week high as UK consumers ignore Brexit LONDON: Sterling jumped a full cent to a two-week high against the dollar on Thursday after UK retail sales for July beat forecasts, apparently unaffected by Britain's vote to leave the European Union.The retail sales report was the first to cover a full month following the Brexit vote in late June, showing retail spending rose 5.9 percent for the year and 1.4 percent for the month, compared with forecasts of 4.2 percent and 0.2 percent.That ...

Markets - FXMM - Europe

Dollar at 7-week low as Fed minutes show little support for rate rise LONDON: The dollar fell to a seven-week low against a basket of major currencies on Thursday, after minutes from the Federal Reserve's July meeting showed a bias among policymakers against raising interest rates soon.The minutes, released on Wednesday, showed members of the rate-setting Federal Open Market Committee were generally upbeat about the U.S. economic outlook.But policymakers believing a slowdown in the future pace of hiring would argue against a near-term hike outnumbered those who anticipated ...

Markets - FXMM - Europe

Sterling's rise after UK jobs data proves shortlived LONDON: Sterling's gains after data showed claims for jobless benefit in Britain unexpectedly fell in July were fleeting on Wednesday as the numbers did little to alter expectations of easier monetary policy and drove another bout of selling in the currency.Claimants fell by 8,600 in the month, compared with an increase of 900 in June, the Office for National Statistics said. Economists had expected the number of benefit claimants - considered to be a potential ...

Markets - FXMM - Europe

Sterling's rise after UK jobs data proves shortlived LONDON: Sterling's gains after data showed claims for jobless benefit in Britain unexpectedly fell in July were fleeting on Wednesday as the numbers did little to alter expectations of easier monetary policy and drove another bout of selling in the currency.Claimants fell by 8,600 in the month, compared with an increase of 900 in June, the Office for National Statistics said. Economists had expected the number of benefit claimants - considered to be a potential ...

Markets - FXMM - Europe

Sterling's rise proves shortlived after UK jobs data LONDON: Sterling rose briefly on Wednesday after data showed claims for unemployment benefit in Britain unexpectedly fell in July, before expectations of easier monetary policy returned to the fore and prompted a bout of selling.Claimants fell by 8,600 in the month, compared with an increase of 900 in June, the Office for National Statistics said. Economists had expected the number of benefit claimants - considered to be a potential early warning sign of an economic ...

Markets - FXMM - Europe

Dollar inches higher ahead of Fed minutes LONDON: The dollar extended its recovery against a basket of currencies on Wednesday after bouncing back from 7-week lows against the yen and euro on the back of hawkish comments from two Federal Reserve officials in the previous session.Dealers said some of the bets on a weaker dollar that have dominated the market for the past week were closed after warnings from New York Fed chief William Dudley and Atlanta colleague Dennis Lockhart's that the ...