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Foreign Exchange

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  • LONDON, March 27- More losses could follow the dollar's recent 5- cent slide versus the euro, Citigroup global chief economist Willem Buiter said on Friday, another major voice to question forecasts the greenback will march relentlessly higher. The official forecast from the currency strategy team at Citi, the foreign exchange market's single biggest player,...

  • LONDON, March 27- The dollar rose across the board on Friday, extending a rebound begun the previous day after Federal Reserve officials signalled they were still on track to raise interest rates this year. Traders are now awaiting a speech by Fed Chair Janet Yellen at 1945 GMT to see whether she strikes a similarly hawkish tone to that of her colleagues, as well as...

  • LONDON, March 27- The dollar climbed broadly on Friday, extending a rebound begun the previous day after Federal Reserve officials signaled they were still on track to raise interest rates this year. "It's pretty clear that the market psychology is still to buy the dollar on dips, and hence we had this huge reversal in the dollar," said Alvin Tan, a currency strategist...

  • PARIS, March 27- European stocks rose in early trade on Friday, halting a sharp two-day retreat as a renewed fall in the euro currency helped boost the shares of exporting companies. The euro fell back on Friday, trading at $1.0811, well below Thursday's intraday high of $1.10525. Shares in Denmark's Novo Nordisk featured among the top gainers, up 13 percent after...

  • SINGAPORE/ SYDNEY, March 27- The dollar held steady versus the yen on Friday but was on track for a second weekly loss after the U.S. Market participants were cautious about taking aggressive positions in the run-up to a speech by Fed Chair Janet Yellen later on Friday. The dollar is likely to see some range-trading against the yen for now, said Stephen Innes, senior...

  • SYDNEY, March 27- A sudden turnaround in the dollar's fortunes overnight saw the currency trading broadly higher early in Asia on Friday, but still on track to end softer for a second straight week. Against the yen, it rallied to 119.28 yen, from a one-month low of 118.33. The euro eased back to $1.0876 from $1.10525, failing to stay above $1.1000 for a fourth time in the...

  • Dollar rallies, traders revisit bullish bets Thursday, 26 Mar 2015 | 4:48 PM ET

    The dollar was on track for its biggest one-day gain against the euro in a week on Thursday after traders reestablished bullish bets on the greenback.

  • GameStop slumps as exchange rates pressure its outlook Thursday, 26 Mar 2015 | 4:21 PM ET

    GRAPEVINE, Texas— Shares of GameStop Corp. slumped in aftermarket trading Thursday after the video game retailer said the stronger dollar hurt its sales in its fiscal fourth quarter and it gave a disappointing forecast for the current year. GameStop said its sales fell about 6 percent in the three months that ended Jan. 31. GameStop shares lost $1.99, or 5 percent,...

  • NEW YORK, March 26- The U.S. dollar was on track for its biggest one-day gain against the euro in a week on Thursday after traders reestablished bullish bets on the dollar following recent weakness in the currency. Analysts said traders stepped in to repurchase the greenback after the euro hit $1.10525 earlier in the session, its highest since it hit a nearly...

  • Using currencies to trade stocks   Thursday, 26 Mar 2015 | 4:05 PM ET
    Using currencies to trade stocks

    Is the yen predicting the next move for the S&P? Kathy Lien of BK Asset Management and Andrew Burkly of Oppenheimer discuss with Brian Sullivan.

  • ZURICH, March 26- Switzerland's currency is still significantly overvalued and the Swiss National Bank is prepared to intervene in the foreign exchange market if necessary, SNB bank board member Fritz Zurbruegg said on Thursday. In a speech in Zurich, he also defended the central bank's shock decision in January to abandon its three-year-old cap on the franc,...

  • NEW YORK/ LONDON, March 26- Raw sugar futures tested the prior session's six-year low in thin trade on Thursday, under pressure from a strengthening dollar, abundant supplies and light physical demand, while arabica coffee extended gains. New York cocoa futures eased, pressured by the weak sterling, and bucking the session's higher trend in larger commodity...

  • Europe closes: Germany ups growth forecast   Thursday, 26 Mar 2015 | 12:30 PM ET
    Europe closes: Germany ups growth forecast

    CNBC's Michelle Caruso-Cabrera reports on all the market moving events in Europe today, including Germany's panel of economic advisors raised its growth forecast.

  • Saudi draws down FX reserves on oil, data suggests Thursday, 26 Mar 2015 | 10:49 AM ET
    A currency exchange in Mecca, Saudi Arabia.

    Saudi Arabia has begun drawing down its foreign currency reserves for the first time since 2009.

  • The euro hit $1.10525 early Thursday, its highest since a nearly two-week high of $1.10625 on March 18 after the Fed released its latest policy statement, before erasing its gains. Analysts said the euro has seen selling pressure above the $1.10 mark on the view that the European Central Bank's new bond-buying stimulus program should weaken the currency...

  • DUBAI, March 26- Saudi Arabia has begun drawing down its foreign currency reserves for the first time since 2009 to cover a record state budget deficit caused by the plunge in oil prices, data from the Saudi central bank indicated on Thursday. It was the first year-on-year drop since February 2010, when Saudi Arabia was affected by the global financial crisis.

  • DUBAI, March 26- Saudi Arabia has begun drawing down its foreign currency reserves for the first time since 2009 to cover a record state budget deficit caused by the plunge in oil prices, data from the Saudi central bank indicated on Thursday. The central bank's net foreign assets fell 1.4 percent from a year earlier to 2.650 trillion riyals in February, according...

  • Geopolitical risk adds to stock issues Thursday, 26 Mar 2015 | 9:53 AM ET
    Southern People's Resistance militants loyal to Yemen's President Abd-Rabbu Mansour Hadi move tanks from the al-Anad air base in the country's southern province of Lahej March 24, 2015.

    Markets were already contending with negative earnings growth, high valuations, and the Fed's interest rate hike ahead of Saudi airstrikes on Yemen.

  • China quietly drops limit on foreign fund investments Thursday, 26 Mar 2015 | 8:55 AM ET

    SHANGHAI, March 26- China's foreign exchange regulator granted a foreign fund management company a quota of more than $1 billion on inbound portfolio investment for the first time on Thursday, in a move toward increasing international use of the yuan currency. Hitherto, only foreign central banks, monetary authorities and sovereign wealth funds had been...

  • LONDON, March 26- The dollar sank to a five-week low against the yen on Thursday, hit by the combination of another round of weaker-than-expected U.S. data and a bid for traditional safe havens by investors worried about stock markets and Gulf oil supplies. News that Saudi Arabia and its allies in the Middle East had launched air strikes against Iran- allied forces...