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Currencies Foreign Exchange

  • TORONTO, Oct 20- The Canadian dollar suffered its biggest drop in nine months against the greenback on Friday, after domestic data showing a drop in retail sales added to expectations that the Bank of Canada will leave interest rates on hold next week. Separate data showed that Canada's annual inflation rate increased to 1.6 percent in September from 1.4...

  • *U.S. Senate passes budget plan that could usher in tax reform. NEW YORK, Oct 20- World stocks advanced, bond yields rose and the U.S. dollar strengthened on Friday on increased hopes President Donald Trump could make progress on his fiscal plans after the U.S. Senate approved a budget blueprint that paves the way for tax cuts. Republican Senator Rand Paul appeared to...

  • Oct 20- Wells Fargo& Co is facing fresh regulatory scrutiny in both its consumer and institutional businesses, according to reports in the New York Times and Wall Street Journal on Friday, as the third-largest U.S. bank continues to work through a prolonged scandal over its sales practices. The Office of the Comptroller of the Currency criticized Wells Fargo in a...

  • NEW YORK— Three high-level foreign exchange executives and a currency trader have left Wells Fargo, the bank that has been through several investigations after a scandal over millions of fake accounts and another over auto insurance practices. Wells Fargo confirmed Friday that the employees from the investment bank side of the business were no longer with...

  • *U.S. tax cuts clear budget hurdle in Senate. "This is clearly a picture of somewhat of a risk-on rotation today, and its ignited some of the animal spirits as we take another step closer to the potential for tax reform coming to fruition," said Bill Northey, chief investment officer at the Private Client Group at U.S. Bank in Helena, Montana. Senate approval of a budget...

  • *U.S. Senate passes budget plan that could usher in tax reform. NEW YORK, Oct 20- World stocks and bond yields rose and the U.S. dollar strengthened on Friday, as investors anticipated President Donald Trump could make progress on his fiscal plans after the U.S. Senate approved a budget blueprint that paves the way for tax cuts. Republican Senator Rand Paul appeared...

  • Oct 20- Wells Fargo& Co, the third-largest U.S. bank by assets, has fired four foreign-exchange bankers amid an investigation into that business by both the bank and regulators, the Wall Street Journal reported, citing people familiar with the matter and the bank. The foreign-exchange investigation now shows there is also trouble in Wells Fargo's...

  • *Senate passes budget plan that could usher in tax reform. NEW YORK, Oct 20- World stocks climbed, along with the U.S. dollar and bond yields on Friday, as investors anticipated President Donald Trump could make progress on his fiscal plans after the U.S. Senate approved a budget blueprint that paves the way for tax cuts. Republican Senator Rand Paul appeared to back...

  • *U.S. tax cuts clear budget hurdle in Senate. NEW YORK, Oct 20- The dollar rose on Friday, on track for its biggest daily gain in more than two weeks, as progress on U.S. tax reforms raised prospects of a fiscal lift to the economy, bolstering investor appetite for risk. Senate approval of a budget blueprint on Thursday for the 2018 fiscal year cleared a critical hurdle for...

  • *Canadian dollar at C $1.2578, or 79.50 U.S. cents. TORONTO, Oct 20- The Canadian dollar weakened against its U.S. counterpart on Friday, pressured by data showing a surprise drop in domestic retail sales and as the greenback broadly gained. "That suggests there is a little more deceleration in the economy than the market expected," said Andrew Kelvin, senior rates...

  • LONDON, Oct 20- The dollar rose on Friday, on track for its biggest daily gain in more than two weeks, as progress on U.S. tax reforms raised prospects of a fiscal lift to the economy, though a lack of broad inflationary pressures checked gains. "Today's story has been all about the boost to the dollar from increased expectations of significant tax reforms and that is...

  • LONDON, Oct 20- Progress in U.S. tax reform plans lifted emerging stocks on Friday, but a stronger dollar and higher U.S. The U.S. Senate approved a budget blueprint for the 2018 fiscal year late on Thursday, paving the way for Republicans to seek a tax-cuts package without Democratic support, and resurrecting expectations that the reflation trade was back on track.

  • LONDON, Oct 20- The U.S. dollar climbed on Friday, on track for its first weekly rise in two, as progress of the U.S. tax plan through the Senate raised hopes of a fiscal boost to the economy, though the lack of inflationary pressures checked gains. Hopes of a fiscal boost to the U.S. economy after President Donald Trump promised major tax reforms pushed the dollar up to a...

  • The dollar rose as progress on U.S. tax reforms raised prospects of a fiscal lift to the economy.

  • *U.S. Senate passes budget blueprint key to Trump tax plan. SINGAPORE, Oct 20- The dollar rose broadly on Friday, bolstered by increased optimism about the prospects for U.S. tax reforms, while the New Zealand dollar hit five-month lows, hampered by uncertainty over economic policies under a new government. "There's still a lot of uncertainty around the timing and...

  • SINGAPORE, Oct 20- The New Zealand dollar hit a five-month low on Friday, dogged by uncertainty over the new government's economic policies, while the dollar held firm as traders awaited President Donald Trump's decision on the next Federal Reserve chair. The New Zealand dollar fell 0.7 percent to $0.6983. New Zealand's next prime minister will be Jacinda...

  • *Canadian dollar at C $1.2479, or 80.13 U.S. cents. TORONTO, Oct 19- The Canadian dollar slipped against the U.S. dollar on Thursday, retreating from a near one-week high earlier in the day, as oil prices fell and the rally in global stocks paused. "We still think the Bank of Canada goes in December again, and we're not anywhere fully priced for that, so there's probably more...

  • *Dollar dips after news Jerome Powell favored as Fed chief. *New Zealand dollar sinks after surprise vote outcome. Treasury yields fell, pulling back from a two-year high, with the dollar weakening further late in the day on a report that President Donald Trump was leaning toward Jerome Powell as the next chair of the Federal Reserve.

  • *New Zealand dollar sinks after surprise vote outcome. NEW YORK, Oct 19- The euro climbed to the highest in nearly a week on Thursday as U.S. "The problem the dollars having is that the good news is already priced in," said Marc Chandler, chief global currency strategist at Brown Brothers Harriman& Co. "And that good news is the Fed is likely to hike rates in December."

  • *Canadian dollar at C $1.2481, or 80.12 U.S. cents. Prices of oil, one of Canada's major exports, slipped on profit taking. Oil had been supported in recent weeks by OPEC- led supply cuts, tension in the Middle East and lower U.S. production.