12042016Sun
Last update: Sun, 04 Dec 2016 11pm

Europe

Markets - FXMM - Europe

Sterling falls back after consumer prices drop LONDON: Sterling sank below $1.56 on Tuesday, hitting a one-week low as the dollar rebounded and data showed UK consumer prices fell last month from a year ago, the first annual decline since 1960.Two days of gains for the dollar, on its worst run in four years since mid-April, have curbed a rally for sterling that followed a victory for Prime Minister David Cameron's Conservatives at elections on May 7.The market broadly favours Cameron, but his promise to further cut public spending holds risks for economic growth and may further delay any rise in domestic interest rates.The fall in consumer prices -- a 0.1 percent decline versus forecasts for no change -- bolstered expectations the Bank of England will hold off raising rates until well into next year."Pretty disappointing numbers, and they are a negative for sterling for sure," said Alvin Tan, a strategist with Societe Generale in London."But it ...

Markets - FXMM - Europe

Sterling falls vs dollar as post-election shine starts to wear off LONDON: Sterling fell against a broadly stronger dollar on Monday, losing some of its post-election shine as investors focused on the risks of a looming referendum on Britain's EU membership and new government spending cuts.The pound posted its best performance in six years against the dollar in the last two weeks, surging after the pro-business Conservative party unexpectedly triumphed in Britain's parliamentary election on May 7, winning an outright majority for the first time in ...

Markets - FXMM - Europe

Turkish lira makes biggest weekly gain against dollar in 3-1/2 years ISTANBUL: Turkey's lira jumped 4 percent against the dollar this week, its biggest weekly gain for 3-1/2 years, on expectations the ruling AK Party could form a government on its own after a June vote, though without enough seats to change the constitution. Still, the lira is down 10 percent this year, the worst performing major emerging market currency after Brazil's real, on dollar gains and worries about the election outcome and political meddling in ...

Markets - FXMM - Europe

Currencies jump, regional growth beats euro zone BUDAPEST/WARSAW: Central European currencies strengthened on Friday after first-quarter Czech and Polish economic output figures confirmed that growth in the region outpaced the euro zone.Regional currencies and government bonds also benefited from a continuing rebound in bonds in developed markets after weeks of price falls which also spilled over into EU emerging markets.A renewed sell-off could prompt another fall in regional assets although the output data is buoying sentiment for now, traders said.The Czech crown ...

Markets - FXMM - Europe

Sterling heads for strongest fortnight vs dollar in six years LONDON: Sterling hovered near a 5-1/2-month high against the dollar on Friday, still riding a post-election rally that has left it on track for its best fortnightly performance against the greenback in six years. Investors had for months worried that no party would win a majority in last Thursday's UK parliamentary election, which could have led to weeks of policy uncertainty until a coalition emerged. But that risk evaporated when the Conservatives won an outright ...

Markets - FXMM - Europe

Sterling hits 5 1/2-month high against struggling dollar LONDON: Sterling hit a 5 1/2-month high on Thursday against a dollar weakened by worries about the U.S. economy, marking the fifth day of gains for the pound since the Conservatives were voted back into government.Sterling had earlier been boosted by comments by Bank of Enlgland Governor Mark Carney, who said, when asked in a BBC interview if interest rates were likely to be higher by this time next year, "It's possible, but it depends ...

Markets - FXMM - Europe

Turkish lira set for strongest week in 3-1/2 years as election fears fade ISTANBUL: The Turkish lira rallied further on Thursday, putting it on track for its strongest week in 3-1/2 years as investors bet June elections will see the AK Party retain control of government, but without enough seats to change the constitution.The lira has fallen more than 10 percent this year, hurt by the resurgent dollar and by deep concerns about the election outcome and political meddling in monetary policy. It has underperformed most other major ...