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Pound Hits 2-week Low Against Euro

Pound Hits 2-week Low Against Euro

The Pound Sterling sank to a two-week low against the euro on Tuesday, hit by the single currency’s renewed strength as relieved investors turned optimistic on Europe after the first round of the French presidential election. The pound weakened to as much as 85.27 pence per euro after a Reuters report that European Central Bank […]

Dollar Wins Against Loonie On Tariff Announcement, Yen Sinks

Dollar Wins Against Loonie On Tariff Announcement, Yen Sinks

The U.S. dollar surged to its highest level against its Canadian counterpart in more than a year on Tuesday after the United States imposed duties on Canadian softwood, while the dollar hit a two-week high against the yen on greater risk appetite. The greenback hit C$1.3615, its highest level against the loonie since late Feb. […]

European Central Bank Set To Change Tone On Economy

European Central Bank Set To Change Tone On Economy

While this weeks meeting might see slight changes in tone, the majority of economist expects the ECB to leave monetary policy unchanged. At this week’s European Central Bank meeting, it is all about slight changes in tone when it comes to their assessment of economic activity. With the French presidential run-off scheduled for May 7, there appears […]

Currency Reserves Healthy, Trade Deficit To Drop, Saudi Central Bank Says

The trade deficit is expected to drop this year Saudi Arabia’s central bank governor said on Saturday that the Kingdom’s foreign currency reserves were healthy, representing 80 percent of GDP, and that the country’s trade deficit could drop this year due to a decline in imports. “The trade deficit is expected to drop this year […]

French Exit Polls: Pound To Euro Exchange Rate Plummets

French Exit Polls: Pound To Euro Exchange Rate Plummets

The Pound Sterling has fallen heavily against the Euro as markets open at the start of a new week of trade on global foreign exchange markets. The Euro was seen shooting higher on polls that showed the centrist Emmanuel Macron winning then first-round of the French presidential election. The GBP/EUR was quoted at 1.1766 in early morning […]

EUR/USD Exchange Rate Could Hit 1.12 On Macron’s 1st Round Win

EUR/USD Exchange Rate Could Hit 1.12 On Macron’s 1st Round Win

Macron was seen winning the first round of the French election, ahead of Marine Le Pen who is widely seen as being the Euro-negative candidate. The Euro exchange rate complex has risen following news Emmanuel Macron is headed for the Élysée Palace. The latest Kantor exit poll has Macron with 23%, while Le Pen won 22% of the vote, Fillon […]

Dollar Improves From Recent Lows As French Vote Approaches

Dollar Improves From Recent Lows As French Vote Approaches

The dollar on Thursday caught its breath in Asian trading, holding above lows hit earlier this week as investors awaited this weekend’s first round of voting in France’s presidential election. The dollar index, which tracks the U.S. currency against a basket of six major rivals, was slightly higher on the day at 99.752, moving away […]

China Needs To Open Up Yuan Then Ease Curbs, Ex-regulator Says

China Needs To Open Up Yuan Then Ease Curbs, Ex-regulator Says

China needs to let more participants trade the yuan onshore, a market dominated by commercial banks, before it can consider lifting capital controls. That’s the view of Guan Tao, former director of the international payments department at China’s State Administration of Foreign Exchange. Lenders and the People’s Bank of China are the main players in […]

Dollar Rises From A 3-week Low; Sterling Edges Lower

Dollar Rises From A 3-week Low; Sterling Edges Lower

The dollar went higher on Wednesday, a day after dropping to a three-week low against a basket of major currencies amid a repricing of expectations of U.S. Federal Reserve rate increases and concerns about U.S. President Donald Trump’s ability to deliver a promised fiscal boost. The dollar index, which measures the greenback against a basket […]

Egypt To Increase Maximum Issuance Of Dollar Bonds To $7 Billion

Egypt will increase the maximum amount of dollar bonds it can issue on international markets to $7 billion, a cabinet statement said. The present $5 billion cap will be lifted by up to $2 billion, the statement said. It said the Ministry of Finance was seeking to obtain additional financing in the face of a rise […]

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