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Last update: Sat, 21 Jan 2017 09am

Europe

Markets - FXMM - Europe

Trump policy vacuum sends dollar skidding lower LONDON: The dollar sank to a five-week low below 114 yen on Thursday and was on course for its worst week since November, hit by a loss of confidence in the U.S. reflation trade which has dominated markets since Donald Trump's election.Speculators had driven the dollar higher on Wednesday in expectation that Trump's first news conference since his victory on Nov. 8 would give more detail on new fiscal spending and tax measures to repatriate U.S. corporate capital held overseas.Instead, the event was dominated by debate over Russian hacking and unsubstantiated claims that he had in the past been caught in a compromising position in Moscow. U.S. Treasury yields fell to their lowest since November in early deals in Europe on Friday."For the moment I would stop short of drawing broader conclusions. I think he will still implement his policy platform," said Lee Hardman, a currency economist with Japan's MUFG ...

Markets - FXMM - Europe

Dollar surge, political nerves send sterling to 3-month low LONDON: Sterling hit a three-month low against the dollar on Wednesday, as a renewed surge by the US currency compounded a lengthening list of political strains weighing on the pound. As well as fears of a messy divorce from the European Union, the threat of Scotland breaking away has re-emerged for the pound this week as well as a collapse of Northern Ireland's decade-long power-sharing government.Sterling spent the day in the red after lacklustre trade ...

Markets - FXMM - Europe

Brexit-shaken sterling hits 11-week low despite firm data LONDON: Data suggesting the British economy kept its momentum at the end of 2016 despite June's Brexit vote could not support sterling on Wednesday as worries over a "hard" departure from the EU sent it to an 11-week low. Numbers showed industrial output rose 2.1 percent in November, recovering from a 1.1 percent drop in October and beating expectations for a 0.8 percent jump. But despite initially inching higher on the data, the pound quickly ...

Markets - FXMM - Europe

Turkey lira under new pressure as bank measures fail to impress ISTANBUL: Turkey's embattled lira on Wednesday took a new pounding on foreign exchange markets as emergency measures announced by the central bank failed to impress markets rattled by terror attacks and political instability.The lira has lost almost 10 percent in value against the American dollar since the start of this year alone with President Recep Tayyip Erdogan's plan for a presidential system, currently debated by parliament, unnerving investors.The lira lost 1.15 percent against the dollar ...

Markets - FXMM - Europe

Turkish lira tumbles to fresh lows as stability worries weigh ISTANBUL: The Turkish lira slumped to new lows on Tuesday, passing 4.0 to the euro for the first time and extending a slide since the start of the year, as a deputy prime minister repeated a warning that the economy was under attack. Islamic State and Kurdish militant bombings, an economic slowdown and political uncertainty over plans to bolster President Tayyip Erdogan's powers have all unsettled investors. The central bank's reluctance to hike interest rates ...

Markets - FXMM - Europe

Sterling slides after PM May reignites hard Brexit fears LONDON: Sterling was on track for its biggest daily losses in three months on Monday, sliding around 1 percent to a 10-week low to the dollar after Prime Minister Theresa May said she was not interested in Britain keeping "bits" of its EU membership.In her first televised interview of the year on Sunday, May denied Britain would face a "binary choice" between curbing immigration and having preferential access to the bloc's single market when it ...

Markets - FXMM - Europe

Dollar regains traction, sterling gets a Brexit bashing LONDON: Talk of Britain drastically reworking trade ties with the European Union after Brexit sent the pound tumbling to two-month lows on Monday, as signals that U.S. interest rates could rise three times this year lifted the dollar.The pound slid over 1 percent against both the dollar and the euro after weekend comments from British Prime Minister Theresa May that she was not interested in keeping "bits of membership" of the European Union.May said she ...