06302016Thu
Last update: Thu, 30 Jun 2016 09am

Europe

Markets - FXMM - Europe

Sterling steadies against dollar, Fed eyed for rate hike clues LONDON: Sterling steadied against the dollar on Wednesday after two days of gains as investors waited to hear whether the U.S. Federal Reserve was still on track to deliver interest rate rises soon despite a rapidly strengthening dollar.Bank of England Chief Economist Andrew Haldane reiterated the Bank's message that it was in no rush to raise interest rates and that when hikes do come, they will be gradual - perhaps as little as a half percentage point rise each year.That kept on track investors' expectations that the BoE will only start hiking rates from their historic lows some time well into 2016. That is a bet that has been pushed back dramatically over the past six months, dragging sterling down more than 12 percent against the greenback since last July.Sterling was flat against the dollar at $1.5192, well clear of an 18-month low of $1.4952 touched late last week. Sterling ...

Markets - FXMM - Europe

Emerging markets weaker pre-Fed, naira plumbs new lows LONDON: The Nigerian naira plumbed new record lows on Wednesday on weaker oil prices and fears of election-linked turmoil, while most other emerging currencies also retreated on expectations of monetary easing.Broader emerging markets were range-bound with a weaker bias before a meeting of the U.S. Federal Reserve which many expect to signal a delay in monetary tightening amid signs that a stronger dollar is hurting U.S. corporate profits.The greenback firmed on Wednesday, pressuring emerging currencies ...

Markets - FXMM - Europe

Dollar climbs, but caution reigns before Fed statement LONDON: The dollar rose against a basket of currencies on Wednesday, recouping some of the previous day's sharp losses, on expectations the Federal Reserve is unlikely to deliver significant changes to its policy outlook.Two-year Treasury yields held above 0.51 percent in European trade, providing support to the dollar. It fell on Tuesday after weaker-than-forecast corporate earnings and durable goods data.The Fed's first two-day policy meeting of the year concludes on Wednesday, and policymakers will likely ...

Markets - FXMM - Europe

Russian rouble slides on oil, threat of more sanctions MOSCOW: The Russian rouble weakened on Wednesday, with a retreat in oil prices and a threat of new sanctions on Moscow for its role in the Ukraine crisis promising to weigh on the currency in the near future.At 0738 GMT, the rouble was around 0.5 percent weaker against both the dollar and the euro, trading at 67.15 76.32, respectively. Oil, Russia's chief export, fell towards $49 per barrel.Russian stocks rose, with the dollar-based RTS index ...

Markets - FXMM - Europe

Sterling rises vs USD as investors brace for possible Fed rethink LONDON: Sterling rose against the dollar on Tuesday, with the greenback pegged back by expectations that the Federal Reserve may choose to keep interest rates lower for longer.The dollar edged down across the board as a two-day Fed policy meeting started. Investors were betting the Fed could respond to a recent string of rate cuts and easing measures by other major central banks by pushing back expectations of when U.S. rates will rise.Consumer confidence rose, ...

Markets - FXMM - Europe

Euro rises against dollar as Fed eyed for rate hike clues LONDON: The euro rose for a second day against the dollar on Tuesday before a meeting of the Federal Reserve that may push back expectations for when U.S. interest rates will start to rise.The single currency rose to $1.1282, up 0.4 percent on the day, moving further away from an 11-year low of $1.1098 hit early on Monday after it became clear that Greece had voted in a new anti-bailout government.Investors are hopeful that the ...

Markets - FXMM - Europe

Swiss franc weakens as talk of SNB intervention swirls LONDON: The Swiss franc fell on Tuesday below levels not seen since the country's central bank removed its cap on the currency, with traders speculating that the bank was intervening to weaken the currency.There was talk of an informal cap on the franc's exchange rate against the euro at around parity, with many traders still recovering from a 40 percent surge in the franc on Jan. 15 when the Swiss National Bank suddenly removed the ...