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  • NEW YORK, May 27- European stocks lead major markets higher on Wednesday and the euro edged up on signs, later dismissed, that Greece and its creditors were drafting an agreement that would provide Athens much-needed debt relief. Greece's government said it is starting to draft an agreement with creditors including the European Union and the International...

  • China: Closer to giving the dollar a run Wednesday, 27 May 2015 | 1:01 PM ET
    An employee counts money at a branch of Industrial and Commercial Bank of China Limited (ICBC) in Huaibei, Anhui Province of China.

    The IMF says the Chinese yuan was no longer undervalued.

  • Arggh! Market is screaming for a Fed decision Wednesday, 27 May 2015 | 11:47 AM ET
    Screaming man

    All this market volatility means one thing for sure: The market is SCREAMING for a Fed decision, says trader Kenny Polcari.

  • NEW YORK, May 27- The euro stabilized in volatile trading and stocks rose on Wednesday after reports that Greece and its creditors, including the European Union and IMF, had reached an agreement that will provide debt relief to the struggling nation. The agreement between Greece and the Brussels Group, comprised of major creditors that include the EU and...

  • FOREX-Dollar hits 8-year high vs yen, euro slips Wednesday, 27 May 2015 | 10:18 AM ET

    *Greece debt concerns compound euro's weakness. "We broke out of a technical pattern because of the general dollar strength," Marc Chandler, chief global currency strategist at Brown Brothers Harriman& Co. in New York, said of the Japanese currency. Japanese Economics Minister Akira Amari said earlier Wednesday while recent movements reflected the dollar's...

  • LONDON, May 27- Financial market trading revolved around the U.S. dollar on Wednesday with European shares rallying on the back of a weak euro and U.S. shares and commodities struggling. At midsession in Europe, the dollar was up 0.5 percent against the yen at 123.68 yen, its highest since June 2007. The fact that bets against the yen have been so much less crowded than...

  • LONDON, May 27- Sterling eased from a recent 2-1/ 2 month high against the euro on Wednesday, with investors awaiting the Queen's Speech which will outline the government plans for a referendum on European Union membership. Analysts have been flagging concerns about a possible "Brexit", and many say the risks to a UK economy that relies on inflows of investment and...

  • LONDON, May 27- European banks Deutsche Bank, Barclays and UBS have seen their market share in foreign exchange trading slump in the past year, as U.S. banks led by Citigroup grabbed business, according to widely watched industry rankings. Citigroup kept its top spot as the leading foreign exchange trading bank with a market share of 16.1 percent, up from 16 percent...

  • TOKYO/ SAPPORO, Japan, May 27- Japanese policymakers on Wednesday offered mild but harmonised verbal warnings against excess currency turbulence, cautioning markets against pushing the yen down too rapidly. "In general, excessive exchange-rate volatility is undesirable," Kyodo news agency quoted Finance Minister Taro Aso as telling reporters before...

  • *Dollar jumps above 123.00 yen, euro slides below $1.09. SYDNEY, May 27- The dollar held on to broad gains early on Wednesday, having rallied to an eight-year high against the yen after a batch of upbeat data bolstered the case for a U.S. interest rate hike this year. It also rose against the euro, which slid to its lowest since April 28 at $1.0864.

  • FOREX-U.S. data drive dollar gains of over 1 percent Tuesday, 26 May 2015 | 3:34 PM ET

    *Euro falls below $1.09, Greek concerns growing. The dollar climbed to its highest in nearly eight years against the Japanese yen and pushed the euro, already weighed down by anxieties over Greece's financial crisis, below $1.09 for the first time in a month. Against the yen, the dollar broke through longer-term resistance and topped 123 yen to a high of 123.32 yen, a...

  • Dollar gains top 1 percent on US rates outlook Tuesday, 26 May 2015 | 3:22 PM ET

    The dollar rose more than 1 percent, extending recent gains driven by increasing expectations the Fed will start raising rates.

  • NEW YORK, May 26- The U.S. dollar rallied on Tuesday after a string of healthy economic data boosted near-term rate hike prospects, while Greece's financial crisis and signs of growing opposition to austerity in Spain weighed further on the euro. Markets in the United States as well as London and Frankfurt returned to action after a long holiday weekend, with the...

  • European markets close: Not a good environment   Tuesday, 26 May 2015 | 11:27 AM ET
    European markets close: Not a good environment

    CNBC's Simon Hobbs reports on all the market movers in Europe today, including Monte Paschi and Ryanair.

  • MOSCOW, May 26- The Russian rouble retreated on Tuesday as the U.S. dollar surged on global markets, oil prices slid, and the need for roubles to pay monthly taxes waned. Fed's rates have provoked a firming of the dollar on all fronts, "TeleTrade analyst Alexander Egorov said in a note. The dollar was 1.2 percent stronger against a basket of major currencies on Tuesday,...

  • FOREX-Dollar gains top 1 percent on U.S. rates outlook Tuesday, 26 May 2015 | 11:03 AM ET

    *Euro falls below $1.09, Greek concerns growing. The dollar climbed to its highest in nearly eight years against the Japanese yen and pushed the euro, already weighed down by anxieties over Greece's financial crisis, below $1.09 for the first time in a month. Against the yen, the dollar broke through longer-term resistance and topped 123 yen to a high of 123.28 yen, a...

  • May 26- China must press ahead with currency liberalization plans for the yuan to join the International Monetary Fund's reference basket of currencies, a senior U.S. In a call to preview discussions among Group of Seven nations in Germany this week, the official said the United States would emphasize the need to find a pragmatic solution for Greece and urge all...

  • Sterling near 2-1/2 month high against struggling euro Tuesday, 26 May 2015 | 10:15 AM ET

    LONDON, May 26- Sterling rose to a 2-1/ 2 month high against a struggling euro on Tuesday, with the single currency weighed down by Greece's debt problems and interest rate differentials moving in favour of the British pound. It was last trading at 70.87 pence, down 0.1 percent on the day, having been hit in recent days by a senior European Central Bank official who...

  • May 26- China's currency liberalization plans are welcome and will be needed before the yuan is able to join the International Monetary Fund's reference basket of currencies, a senior U.S. Treasury official said on Tuesday. In a call to preview discussions among Group of Seven nations in Germany, the official said the United States encouraged China to continue...

  • *IMF expects China growth of 6.8 pct this year. BEIJING, May 26- China's yuan currency is no longer undervalued after its recent gains, but the government should quicken reforms to get to having "a floating exchange rate", the International Monetary Fund said on Tuesday. In a reference to how China still has a large trade surplus, despite a stronger yuan, the IMF said...