07292016Fri
Last update: Fri, 29 Jul 2016 09pm

Europe

Markets - FXMM - Europe

Dollar eases after jobs-inspired rally, eyes on Greece LONDON: The dollar gave back some ground on Monday as traders sold into a rally triggered by robust U.S. jobs data, while Greece held investors' focus after Athens reaffirmed its rejection of an international bailout programme.The dollar index, an indication of the greenback's performance against a basket of major currencies, slipped 0.3 percent to 94.459, having gained over 1 percent on Friday after the U.S. employment figures.Meanwhile, Greece was back on investors' minds as Prime Minister Alexis Tsipras remained adamant that improved bailout terms was the only way out for the debt-strapped nation.But despite investor worries about what the Greek situation meant for the future of the euro zone, the euro rose 0.4 percent to $1.1353, having lost more than 1.5 percent against the dollar on Friday."This is purely a dollar correction and it's going to provide us with another buying opportunity," Morgan Stanley head of European FX strategy, Ian ...

Markets - FXMM - Europe

Turkey's lira drops to record low after US jobs data ISTANBUL: The Turkish lira sank to yet another all-time low on Monday, hit by expectations the U.S. Federal Reserve could raise interest rates mid-year, bolstering the dollar and reducing appetite for riskier emerging-market assets.The currency has hit record lows for weeks as government officials, including President Tayyip Erdogan, make repeated calls for the central bank to cut Turkish interest rates."Any easing in the policy stance looks less probable. The tightening in liquidity conditions will likely ...

Markets - FXMM - Europe

Sterling slips, investors prepare for BoE inflation report LONDON: Sterling weakened on Monday as attention shifted to a Bank of England inflation report due later this week, which is expected to support expectations that UK interest rates will stay lower for longer.The pound was also hurt by a widening gap between U.S. 10-year Treasury yields and their British counterparts. The U.S. 10-year yield posted its biggest rise in 1-1/2 years on Friday as robust U.S. jobs data stoked expectations that the Federal Reserve ...

Markets - FXMM - Europe

Politics, US yields weigh on EM, naira hits new low LONDON: Nigeria's naira fell 1 percent to new record lows on Monday on fears of violence after a Feb. 14 election was delayed while a backup in U.S. yields issues pressured other emerging assets.Turkey's lira hit new lows as worries about central bank independence persist while a stronger oil price and improved prospects for peace in Ukraine lifted Russia's rouble.Friday's strong U.S. jobs report sent 10-year Treasury yields to one-month highs. Sentiment towards emerging markets ...

Markets - FXMM - Europe

Dollar edges up before US jobs, wages data LONDON: The dollar rose against a basket of currencies on Friday, before the release of US employment data that should provide more clues on when the Federal Reserve will raise interest rates. A solid jobs report and a rebound in wages would favour the dollar by reviving expectations the Fed might raise rates as early as mid-year. Disappointing jobs data and signs that wages are not improving would weigh on the dollar, traders said. Non-farm ...

Markets - FXMM - Europe

Turkish lira slumps to new low in value against dollar ISTANBUL: Turkey's embattled lira hit a new low in value against the dollar on Friday, with investors rattled by comments from President Recep Tayyip Erdogan earlier this week threatening the independence of the central bank.The lira lost value to trade at 2.47 to the US dollar, which was up 1.34 percent on the day, boosted by strong US jobs data earlier in the day.Erdogan, who wants the central bank to aggressively cut interest rates, indicated ...

Markets - FXMM - Europe

Rise in Swiss forex reserves indicates SNB still intervening to curb franc ZURICH: The Swiss National Bank's foreign exchange reserves edged up to a new record high in January, data showed on Friday, indicating that the central bank is still intervening to keep the franc down after abandoning a cap on the currency.The figures are the first indication of the central bank's currency holdings after it stunned financial markets by scrapping the more than three-year-old cap last month, a policy it later said would have cost 100 ...