The yen heads for its biggest weekly gain in more than a month against the dollar, on tensions in Ukraine and the Chinese economy.» Read More
NEW YORK Feb 12- The British pound rose to a two-week high against the dollar on Wednesday after the Bank of England raised growth forecasts and hinted Britain may raise interest rates next year. "It's a sterling day," said David Gilmore, partner at FX Analytics in Essex, Connecticut.
*U.S. House passes debt limit, diminishes danger of default. NEW YORK, Feb 12- Prices climbed on global stock markets for a sixth straight session on Wednesday after upbeat trade data from China and a U.S. deal extending federal borrowing authority, while the British pound rose to a two-week high against the dollar.
LONDON, Feb 12- The British pound rose to a two-week high against the dollar on Wednesday after the Bank of England raised growth forecasts in its quarterly inflation report and hinted it may raise interest rates next year.
The dollar was steady ahead of Janet Yellen's testimony in Congress, while Norway's crown jetted almost 1 percent higher.
Jonathan Webb, head of FX strategy at Jefferies Bache, says that sterling is very much "a growth story" and advises being short euro/sterling but long sterling/Swiss franc.
Global currency markets trod water ahead of interest rate decisions in Britain and the euro zone on Thursday.
*Sterling falls after below forecast UK PMI services data. LONDON, Feb 5- The yen gained on Wednesday, advancing towards recent multi-month highs as stock markets struggled and confidence remained fragile in emerging markets, forcing investors to seek safe-haven currencies.
The yen gained on Wednesday, as struggles in stock markets and the emerging markets forced investors to seek safe-haven currencies.
The Australian dollar surged almost two percent on Tuesday after moves from the country's central bank dropped.
The euro was soft on Monday as investors thought it more likely the European Central Bank would have to ease policy to combat slowing inflation.
The euro fell as soft euro zone inflation data rekindled concerns the ECB may have to act to combat deflation, while the dollar gained.
The dollar rose against a basket of currencies on Thursday after data showed the US economy produced solid growth in the fourth quarter.
Several analysts see an upside for Russia to the emerging market rout, seeing it as "easy money" for the government's coffers.
The yen rose against the dollar, suggesting emergency action to stabilize Turkey would not be enough to quell nerves over emerging markets.
If Scotland becomes independent and keeps the British pound, the Bank of England would "simply implement whatever monetary arrangements" were negotiated, says Mark Carney, governor at the Bank of England.
The dollar regained a firmer footing against the yen on Tuesday as investors took a breather from a sell-off of stocks and emerging market assets.
Safe-haven currencies like the yen and the Swiss franc were much in demand on Monday as an emerging markets sell-off continued.
The yen, Swiss franc and euro charged higher amid worries about a China slowdown and turmoil in some emerging markets.
Sterling rose to an almost three-year high against the dollar on growing expectations that the BoE will raise interest rates sooner.
*Asia subdued ahead of Chinese manufacturing survey. *Wall Street unimpressed by mixed bag of corporate earnings. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2 percent, while Australia's main index lost 0.4 percent.