Foreign Exchange News

The dollar weakened sharply against its major rivals Tuesday, hitting a two-month low versus the euro, pressured by concern that the European Central Bank will raise rates more aggressively than the Federal Reserve and on speculation that central banks will diversify their reserves. At the same time, the euro surged to a record against Japan's yen after producer-price and unemployment data as w ...

The dollar weakened sharply against major rivals early Tuesday, hitting a two-month low versus the euro as Europe's shared currency was lifted by talk the European Central Bank will raise interest rates in May. News agency Market News, citing "well-informed central banking sources," reported the majority of ECB council members prefer a rate hike in May. In early New York trading, the euro st ...

China may reduce the amount of US bonds it holds as part of its foreign exchange reserves, an influential official has reportedly said. The remarks, made by Parliamentary vice-chairman Cheng Siwei, triggered a fall in the US dollar against leading currencies in European trading. China is a major funder of US debt, holding about £260bn (£149bn) in US Treasury bonds - second only to Japan. Any reduction in China's dollar assets could hit the US economy. Should China cut its US dollar ...

The US dollar extended losses in European morning trade on Tuesday amid a call from a Chinese politician for China to stop buying US Treasuries. // The dollar had already been soft in the wake of Monday’s disappointing US data, with Ashraf Laidi, chief currency analyst at MG Financial, pointing out that the US manufacturing index had fallen below the level of its equivalent eurozone measure for the first time in three years. However the dollar slipped lower still on Tuesday as Cheng Siwei, a v ...

Treasury prices fell for the fifth time in the past six days Monday after a stronger-than-anticipated inflation warning in an otherwise soft reading on the factory sector. The benchmark yield on the 10-year Treasury rose to 4.87%, the highest close since June 2004, after briefly topping 4.90%. The Institute for Supply Management said its March sentiment index fell to 55.2% from 56.7% in Febr ...

HONG KONG (Dow Jones) -- The Bank of Japan's quarterly tankan survey of business sentiment Monday showed optimism is improving, though confidence dipped slightly among large manufacturers, who were unable to pass higher raw-material costs along to consumers. In the three months through March, business confidence among major manufacturers slipped, marking the first deterioration in four quarters ...

Jo Thornhill, Mail on Sunday3 April 2006 HOLIDAYMAKERS are being warned not to rely solely on the new European Health Insurance Card if they get ill or have an accident while they are abroad. UP TO SPEED: Natasha Quinton has not had an E111 since childhood but applied for one to go to Tenerife WANT TO KNOW MORE? REPORT: Insurers launch feedback plan DEAL FINDER: Best travel insurance GUIDES: Insurance tips POLL: When you go abroad do you try to get currency as cheaply as pos ...

Asian markets traded higher Monday, led by the Nikkei 225 Average that rallied to its highest level in almost six years. The Nikkei soared after a business sentiment survey released early in the morning offered a mixed picture pointing to broad economic recovery, but also weakness in some areas that boosted expectations of a go-slow attitude on interest rate hikes. The Bank of Japan's quarte ...