08242016Wed
Last update: Wed, 24 Aug 2016 09pm

Europe

Markets - FXMM - Europe

Sterling falls back before inflation numbers LONDON: Sterling dropped back below $1.32 ahead of inflation data on Tuesday, more evidence that investors will sell the pound any time it blips higher in expectation of a grim economic aftermath of last month's vote to leave the European Union. Sterling saw its best performance since 2009 last week as many of those who had sold the pound in a 14 percent slide after the referendum took some of the profit they had earned in the process. It also gained around a third of a percent on Monday.But the consensus of banks' forecasts is for the UK currency to fall to $1.28 in three months and $1.2650 in six as the uncertainty of an extended period of EU exit talks hurts the economy and the Bank of England eases monetary policy further."Going forward we expect ... sterling to decline on the back of weaker data, BoE easing and tough ...

Markets - FXMM - Europe

Sterling firm, boosted by Softbank bid and Weale's comments LONDON: Sterling rose on Monday, boosted by expectations of inflows from an acquisition deal after Japan's Softbank agreed to buy chip designer ARM in a 24.3 billion pound deal which should help plug Britain's yawning current account gap.The pound extended gains after Bank of England policymaker Martin Weale said he was unsure if he would back an interest rate cut at next month's meeting. That contrasts with most of his colleagues who think a rate ...

Markets - FXMM - Europe

Turkish lira regains ground as coup contained, but worries simmer ISTANBUL: Turkey's lira rose 3 percent against the dollar on Monday, regaining much of the ground it lost after Friday's failed coup as investors took heart from government moves to regain control, though concerns simmered about the extent of the crackdown.Turkey's main BIST 100 share index, which had its first chance to react to the turmoil, fell 4.8 percent in early trade, pulled lower by banking shares and echoing the initial tumble in the lira ...

Markets - FXMM - Europe

Yen slips as Turkey quashes coup, Softbank deal eyed LONDON: The yen sank back towards three-week lows against the dollar on Monday as investors unwound a surge of safe-haven trades done on the back of reports of an attempted military coup in Turkey on Friday.Turkey widened a crackdown on suspected supporters of the failed coup on Sunday, taking the number of people rounded up in the armed forces and judiciary to 6,000, and the government said it was in control of the country and ...

Markets - FXMM - Europe

Sterling firmer, helped by Softbank bid for ARM LONDON: Sterling rose on Monday, boosted by expectations of inflows from an acquisition deal after Japan's Softbank agreed to buy chip designer ARM in a 24.3 billion pound deal and which should help plug Britain's yawning current account gap. Finance minister Philip Hammond welcomed the all-cash deal and said Britain remained an attractive destination for investment after the Brexit vote.ARM, the most valuable tech company listed in London by market value, is a major presence ...

Markets - FXMM - Europe

Russian rouble ticks higher, helped by taxes and oil MOSCOW: The Russian rouble opened stronger on Monday, helped by the run-up to monthly local tax payments and an uptick in the oil price. At 0750 GMT, the rouble was 0.6 percent stronger against the dollar at 63.13 and had gained 0.5 percent to 69.76 versus the euro.Brent crude oil, a global benchmark for Russia's main export, was up 0.2 percent at $47.7 a barrel.Analysts said the rouble would be supported this week by companies ...

Markets - FXMM - Europe

Turkish lira rises 3pc vs dollar, extends bounce after coup fails SINGAPORE: The Turkish lira rose 3 percent against the dollar on Monday, extending a bounce after Turkish authorities thwarted a coup attempt over the weekend and calmed investor concerns about geopolitical risks. The lira was trading at 2.9274 against the dollar, up roughly 3 percent on the day. It has recovered some of the losses suffered on Friday when it slid nearly 5 percent as news of the coup attempt spooked investors.Copyright Reuters, 2016 ...