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Foreign Exchange

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  • 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...

  • ZURICH, March 26- The Swiss National Bank spent 25.8 billion Swiss francs defending its cap on the currency late last year before jettisoning the policy as too costly for the country's economy, it said on Thursday. The SNB shocked markets in January when it removed the 1.20 per euro ceiling on the Swiss franc, sending the currency soaring, stocks plunging and...

  • FOREX-Yen, franc surge on Saudi worries, dollar weakens Thursday, 26 Mar 2015 | 5:20 AM ET

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

  • HONG KONG, March 26- China sent a strong message to the International Monetary Fund this week urging that the yuan be included in its special drawing rights basket, with top officials promising further reforms and striving for full convertibility this year. The yuan's possible inclusion in the basket, an international reserve asset, will greatly enhance...

  • FOREX-Dollar drifts lower, undermined by soft U.S. data Thursday, 26 Mar 2015 | 12:10 AM ET

    *Forex market reaction muted to Yemen escalation, oil price surge. TOKYO/ SYDNEY, March 26- The U.S. dollar ground lower in small ranges on Thursday, edging towards a four-week low against the yen in the wake of disappointing U.S. data that suggested the greenback's recent rally is on ice for now. News that Saudi Arabia and its Gulf Arab allies had launched air strikes...

  • *Dollar index softer, euro back near $1.10. SYDNEY, March 26- The corrective bounce in the U.S. dollar faded again overnight, leaving the currency a shade lower early on Thursday in another hint the recent one-way bullish bet is on ice for now. Also providing an uncomfortable read for dollar bulls, Chicago Fed President Charles Evans said he was concerned the strong...

  • Dollar slips further after weak US durable goods data Wednesday, 25 Mar 2015 | 4:18 PM ET

    The dollar fell against a basket of major currencies after weaker-than-expected U.S. data combined with a robust survey of German business morale.

  • Don't read too much into Wednesday's declines Wednesday, 25 Mar 2015 | 2:21 PM ET
    Traders work on the floor of the New York Stock Exchange.

    Reasons for market's weakness

  • *Gold near $1,200 an ounce as dollar dip lifts oil. NEW YORK, March 25- Wall Street stocks tumbled and the dollar slipped on Wednesday after government data signaled the U.S. economic expansion was slowing, while gains in the euro prompted a pullback in European stock markets. The main U.S. stock indices were off more than 1 percent midway through a session that began...