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Currencies Foreign Exchange

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  • JACKSON HOLE, Wyo., Aug 28- The Swiss National Bank hopes its policies of negative interest rates and a willingness to intervene in the currency market will weaken the overvalued Swiss franc over time, its chairman wrote in a conference paper published on Friday. Switzerland's export-reliant economy has been hampered by a surge in the franc after the SNB removed...

  • But a counter flow- call it "quantitative tightening"- is gathering force as China sells foreign exchange reserves to protect its economy and markets from the recent surge of capital out of the country. Analysts at Citi estimate that global FX reserves have been depleted at an average pace of $59 billion a month in the past year or so, and closer to $100 billion over...

  • European markets close: Euro zone confidence index rises

    CNBC's Simon Hobbs reports on all the market moving events in Europe today, including the euro zone confidence rising to a fresh 4-year high.

  • *Dollar index on track for largest weekly gain in a month. NEW YORK, Aug 28- The dollar gained for a fourth straight session on Friday, buoyed by calmer financial markets and generally positive U.S. data that supported the notion that the world's largest economy was on a stable growth path. "Overall, markets are finally starting to calm down and the economic data is...

  • LONDON, Aug 28- The dollar eased against a basket of major currencies for the first time in four days on Friday, with investors awaiting fresh comment from the U.S. Against the yen, the greenback dipped below 121 yen, still a remarkable recovery from Monday's seven-month low of 116.15. The yen gave a muted reaction to data showing Japan's inflation slowed to zero...

  • *Gold down nearly 3 pct this week. LONDON, Aug 28- Gold edged up on Friday but was still on track to post its biggest weekly drop in five as strong U.S. economic data supported the case for a near-term increase in interest rates. "The big question for next week is whether the anxiety that crept into the market on August 10 when China devalued its currency is going to...

  • *Dollar supported by robust U.S. LONDON, Aug 28- The dollar held steady against a basket of major currencies on Friday as a sense of calm returned to financial markets, capping off a tumultuous week when the greenback hit seven-month lows against the euro and the yen. It last stood at 121.05 yen.

  • CHICAGO, Aug 28- U.S. retailers including Toys R Us are starting to negotiate with their Chinese suppliers to take advantage of lower manufacturing costs after China devalued the yuan, with many saying they want to be ready if currencies in China and other Asian countries drop more against the dollar. Earlier this month, China devalued its tightly controlled...

  • LAUNCESTON, Australia, Aug 28- Market wisdom is that Asian rice prices are set to rally as El Nino cuts output and bulging stockpiles are steadily eroded. Benchmark Thai 5- percent broken white rice staged a 10 percent rally from a 7 1/ 2- year low of $367.50 a tonne on June 24 to a recent peak of $405 on July 17. It's much the same situation for Thailand's regional...

  • SHANGHAI, Aug 28- China's yuan rose sharply against the dollar on Friday, with traders citing large transactions by state-owned banks on behalf of the central bank to support the currency. "There were clear signs that the central bank was continuing intervening in spot trading to support the yuan," said a dealer at a major European bank in Shanghai.

  • SYDNEY, Aug 28- The dollar held at one-week highs against a basket of major currencies early on Friday, having benefited from upbeat U.S. data and as investors continued to cut back on safe-havens such as the yen. The euro came close to $1.1200, having been knocked off its lofty perch above $1.1700. Analysts at Citi said all four components showed positive revisions:...

  • Pisani: Stock rally becomes ridiculous drama Thursday, 27 Aug 2015 | 5:13 PM ET
    Traders work on the floor of the New York Stock Exchange.

    The Dow went up 2 percent in the last 45 minutes Thursday. THAT is ridiculous.

  • The dollar advanced for a third consecutive session on Thursday, bolstered by data showing a much stronger U.S. economy.

  • NEW YORK, Aug 27- The dollar rose for a third consecutive session on Thursday, bolstered by data showing a much stronger U.S. economy than had been thought and by gains in global equities, which benefited from improving risk sentiment. The reports, however, did little to change the view that the Federal Reserve would delay raising interest rates given recent market...

  • European markets close: Extended gains Thursday, 27 Aug 2015 | 11:30 AM ET
    European markets close: Extended gains

    CNBC's Simon Hobbs reports on all the market moving events in Europe today, including European oil majors and the Greek Prime Minister ruling out a coalition with main parties.

  • Are there any safe haven currencies? Thursday, 27 Aug 2015 | 11:00 AM ET
    Are there any safe haven currencies?

    Derek Halpenny, European head of global markets research at Bank of Tokyo-Mitsubishi, talks about foreign exchange markets and the prospects for the dollar and the yuan.

  • NEW YORK, Aug 27- The dollar advanced for a third consecutive session on Thursday, bolstered by data showing a much stronger U.S. economy than had been thought and by gains in global equities, which benefited from improving risk sentiment. The reports, however, did little to change the view that the Federal Reserve would delay raising interest rates given recent...

  • BEIJING, Aug 27- China's devaluation of its yuan currency should not be made a scapegoat for the recent global stock market rout, a senior Chinese central bank official told Reuters on Thursday. "China's exchange rate reform had nothing to do with the global stock market volatility, it was mainly due to the upcoming U.S. Yao's comments, which came on the same day that...

  • *Stocks rise after Wall Street rally. LONDON, Aug 27- The yen nursed losses against the dollar on Thursday as calm returned to currency markets with gains in global equities, including a 5 percent jump in Shanghai, underpinning risk sentiment and sapping demand for safe haven currencies. Traders said any upward revision to second-quarter growth data out of the...

  • Plenty of upside in dollar vs. Yen: UBS Thursday, 27 Aug 2015 | 4:45 AM ET
    Plenty of upside in dollar vs. Yen: UBS

    Geoffrey Yu, FX strategist at UBS, says the Federal Reserve wants to make sure the U.S. dollar isn't "too much of an impediment" in terms of the U.S. recovery.