Currencies Foreign Exchange

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  • The yen surged by half a percent against the dollar as worry over Europe's banks drove capital to the safety currecny.

  • CAIRO, Feb 8- General Motors has temporarily suspended its operations in Egypt due a currency crisis, a company source told Reuters on Monday. Import-dependent Egypt has been in economic crisis since a 2011 uprising and susequent political turmoil drove foreign investors and tourists away. General Motors's Egypt operation includes assembling trucks and...

  • *Dollar falls to lowest vs yen since November 2014. NEW YORK, Feb 8- The dollar fell to a 15- month low against the yen on Monday as a renewed slide in oil prices and doubts about the effectiveness of the Bank of Japan's negative interest-rate policy drove investors back into the safe-haven currency. "A bit of it is positioning," said Charles St-Arnaud, senior...

  • European banks take a beating

    CNBC's Simon Hobbs reports on a broad-based decline in European stocks today, including beaten-down European banks.

  • CAIRO, Feb 8- Egypt is drafting its next budget on the basis of an exchange rate of 8.25 Egyptian pounds to the dollar, weaker than the central bank's official rate, two government sources said on Monday, indicating the monetary authority may be preparing to devalue. Egypt's fiscal year begins in July. "The government has begun preparing the state budget in...

  • LONDON, Feb 8- The yen surged by half a percent against the dollar on Monday as worry over Europe's banks drove capital to the safety of the Japanese currency. It fell 0.4 percent against the dollar, to $1.1121. "The strong yen stands out," said Stephen Gallo, a strategist with BMO in London.

  • LONDON, Feb 8- The global economy is being hit by a slowdown in growth, large swings in exchange rates and tumbling commodity prices. The case for a single interconnected adjustment was made by Jaime Caruana, general manager of the Bank for International Settlements on Friday. Much of the borrowing has been conducted in U.S. dollars and was made possible by low...

  • LONDON, Feb 8- The dollar turned lower against the euro in Europe on Monday as stock markets resumed their decline, wiping out gains based on Friday's U.S. jobs report. "Ultimately the dollar is still likely to trade on a weaker footing," said Lee Hardman, a currency economist with Bank of Tokyo-Mitsubishi-UFJ in London. The Aussie dollar was up 0.5 percent against its...

  • Total foreign exchange trading volume across TR platforms, including forwards, swaps, options and non-deliverable forwards rose 12 percent on the month to $377 billion from $337 billion, but fell 5 percent on the year from $398 billion. The latest numbers from the Bank of England and New York Federal Reserve last month painted a similar picture.

  • CAIRO, Feb 8- Egypt is drafting its 2016-2017 budget on the basis of an exchange rate of 8.25 Egyptian pounds to the dollar compared to 7.75 pounds this fiscal year, two government sources said on Monday, indicating the central bank is preparing to devalue. Egypt's central bank has defended the pound against growing pressure to devalue, but with foreign exchange...

  • Don't expect much alpha from EM currencies: Strategist

    Geoffrey Yu, ultra-high net worth investment strategist for UBS, discusses foreign exchange and whether or not to buy emerging market currencies.

  • There is value in EM currencies: Strategist

    Kamakshya Trivedi, chief emerging markets macro strategist at Goldman Sachs, says the "doom and gloom" around EM currencies is not new.

  • CAIRO, Feb 8- Egypt is preparing its 2016-2017 budget on the basis of an exchange rate of 8.25 Egyptian pounds to the dollar, as compared to 7.75 pounds the previous year, two government sources told Reuters on Monday. The proposed value of the pound in the budget being drafted indicates the Central Bank of Egypt is planning to devalue the pound from the official...

  • *Dollar extends Friday's post-payrolls gains. *Much of Asia shut for the Lunar New Year holidays. SYDNEY/ TOKYO, Feb 8- The dollar extended its post-payrolls gains on Monday in a sluggish start to the week with the Lunar New Year holidays and the Super Bowl game all but guaranteeing a tepid session in Asia.

  • BOJ members feared triggering ‘rates war’ Sunday, 7 Feb 2016 | 11:41 PM ET
    A pedestrian holding an umbrella walks past an electronic board showing prices of Japan's Nikkei average in Tokyo.

    Policymakers at the Bank of Japan tussled over the decision to adopt negative interest rates, according to the summary released Monday.

  • *Dollar holds on to Friday's gains. *Much of Asia shut for the Lunar New Year holidays. SYDNEY, Feb 8- The dollar held onto its post-payrolls gains early on Monday in a sluggish start to the week with the Lunar New Year holidays and the Super Bowl game all but guaranteeing a tepid session in Asia.

  • Venezuelan default: Worse than Argentina? Sunday, 7 Feb 2016 | 1:00 PM ET
    Students take part in a rally against President Nicolas Maduro's government in Caracas on Nov. 21, 2015.

    Markets are bracing themselves for the prospect of a calamitous debt default in Venezuela, which may be worse than Argentina's 2001 crisis.

  • Iran: Dollars no good here, but euros are Sunday, 7 Feb 2016 | 11:19 AM ET
    Iranian workers walk at a unit of South Pars Gas field in Asalouyeh Seaport, north of Persian Gulf, Iran November 19, 2015.

    Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros.

  • China FX reserves fall almost $100B in January Sunday, 7 Feb 2016 | 5:25 AM ET

    China's foreign reserves fell for a third straight month in January, as the central bank dumped dollars to defend the yuan and prevent an increase in capital outflows.

  • BEIJING, Feb 7- China's foreign reserves fell for a third straight month in January, as the central bank dumped dollars to defend the yuan and prevent an increase in capital outflows. China's foreign reserves fell $99.5 billion to $3.23 trillion in January, the lowest level since May 2012, central bank data showed, but higher than the median forecast of $3.20...