Wednesday, 17 April 2013 14:40
Posted by Shoaib-ur-Rehman Siddiqui
LONDON: Sterling edged lower against the dollar and euro on Wednesday, with demand muted ahead Bank of England minutes that will be scrutinised for any clues on the likelihood of further monetary easing.Market players expect the minutes will show policymakers voted 6-3 in favour of keeping asset purchases on hold at 375 billion pounds in April, as they did the two previous months.Analysts said that could give a marginal boost to the pound, although worries that the economy is teetering on the brink of a third recession in less than five years are likely to cap gains.Investors will focus on UK unemployment data, also released at 0830 GMT, to help gauge the economic outlook."If we do not see any acceleration in bias from the bank in terms of easier policy that could provide a little bit of support for cable (sterling/dollar), assuming we do not see a collapse in the ...
103
LONDON: Sterling edged lower against the dollar and euro on Wednesday, with demand muted ahead Bank of England minutes that will be scrutinised for any clues on the likelihood of further monetary easing.Market players expect the minutes will show policymakers voted 6-3 in favour of keeping asset purchases on hold at 375 billion pounds in April, as they did the two previous months.Analysts said that could give a marginal boost to the pound, although worries that the economy is teetering on the brink of a third recession in less than five years are likely to cap gains.Investors will focus on UK unemployment data, also released at 0830 GMT, to help gauge the economic outlook."If we do not see any acceleration in bias from the bank in terms of easier policy that could provide a little bit of support for cable (sterling/dollar), assuming we do not see a collapse in the ...
ZURICH: The Swiss franc ticked lower against the dollar on Wednesday as a sell-off in mining companies weighed on European equities and dented risk appetite, pulling the safe haven greenback off the previous session's 8-week low against the franc.Supporters of the franc stayed on the sidelines after Swiss National Bank Vice Chairman Jean-Pierre Danthine said in a speech on Tuesday evening that a credit boom that had pushed up real estate prices could easily turn ...
LONDON: The euro hit a one-month high against sterling on Wednesday, tracking a rise in the euro against the dollar as the pound also came under pressure from a rise in the UK unemployment rate.The euro rose 0.4 percent on the day to 86.145 pence, its highest level since March 15.The pound also hit a session low against the dollar of $1.5302, from $1.5323 before the data was released.Bank of England minutes released at the ...
LONDON: Sterling hit a four-week low against a broadly firmer euro on Tuesday and looked vulnerable to further weakness on concerns about the health of the British economy.Data showed UK inflation remained high in March, with annual CPI still at 2.8 percent, its strongest level since May last year.Analysts said while high price levels would probably not prevent the Bank of England from opting for more monetary easing in coming months, sticky inflation could weigh ...
LONDON: Sterling edged up against the dollar on Tuesday but fell against the euro and was seen as vulnerable to concerns over global growth and upcoming data that may highlight Britain's own economic weakness.Figures due at 0830 GMT are expected to show UK annual CPI inflation staying high at 2.8 percent.Some analysts said a strong reading could give the pound a small boost as it may dampen the chances of more quantitative easing from the ...
LONDON: The yen's recent bounce ran out of steam on Tuesday as stocks and commodities stabilised, but investors remained wary that another rout in gold prices could spur demand for the safe haven Japanese currency.The yen, which is very liquid and tends to benefit in times of stress in the global economy or financial markets, has been a big beneficiary in the past few days after poor Chinese data, a dramatic drop in gold prices ...
ZURICH: The Swiss franc rose against the dollar on Tuesday, after risk sentiment was sapped by disappointing Chinese data, a rout in commodity prices led by gold, and explosions in Boston."Higher risk aversion was reflected in the sharp spike higher in the VIX 'fear gauge,' said Mitul Kotecha of Credit Agricole.Investors dumped riskier assets on Monday as disappointing growth data from China hit commodities and shares, while gold suffered its worst two-day loss in 30 ...
