Foreign Exchange News

LONDON (Reuters) - Pumps to boiler systems company Spirax-Sarco Engineering said on Monday its full-year pretax profit rose 17 percent due to favourable currency movements and growth in Asia and the Americas. Spirax (SPX.L: Quote, Profile, Research) said it expected further growth in the current year if there was no disruption to world economies and if currency movements did not swing against it ...

Lithuania looks set to become the first victim of a tough new European Union approach to participation in its single currency, amid concerns that some eurozone members have suffered because they adopted the euro too early. // The central bank of the Baltic state says Lithuania will this week formally apply to join the eurozone on January 1 2007, despite warnings it will be rejected. Last week Joa ...

By Thomas Atkins and Natsuko Waki BASEL, Switzerland (Reuters) - Senior central bankers gathered on Sunday to review the global economy days after Japan scrapped a five-year-old super-loose monetary stance in a move expected to affect financial markets worldwide. Entering the meeting, Bank of Japan Governor Toshihiko Fukui said markets had accepted the long-awaited policy switch calmly, and he a ...