Foreign Exchange News

Few countries are benefiting quite as much from the bonanza in raw material prices as Chile, Latin America’s fourth largest economy. Copper, the flagship industrial commodity whose price has more the doubled in the last 12 months, accounts for about half of Chile’s exports and revenues from taxes help shore up the operations of Latin America’s most efficient public sector. // Equally, though, high prices and soaring export revenues from metals have led to a strong appreciation of the peso, und ...

The traditional retirement idyll of a thatched cottage in the West Country is making way for more exotic destinations in the sun. // Growing numbers of Britons are retiring abroad, swapping the cold and rain for mostly warmer climes. No wonder that they are now known as “snowbirds”. About 1m British pensioners are drawing their state pension abroad, according to the Department for Work and Pensions. This is up from 770,000 in 1997. Britain’s former imperial reach explains part of the pattern  ...

By Chris Giles in London and Jo Johnson and Martin Wolf in HyderabadPublished: May 4 2006 20:50 | Last updated: May 4 2006 20:50The US dollar stemmed its losses against Asian currencies in early London trading on Thursday after Japanese and Chinese officials in India reiterated their opposition to an immediate currency realignment. // But a tough statement by Jean-Claude Trichet, president of the European Central Bank, warning that eurozone interest rates would almost certainly rise next month ...

The euro leapt to a fresh one-year high against the beleaguered US dollar on Thursday as Jean-Claude Trichet, the president of the European Central Bank, made hawkish noises about the path of eurozone interest rates. // The euro’s rally also kickstarted a generalised decline in the greenback, which also hit one-year lows against sterling and the Swiss franc and an eight-month nadir versus the Australian dollar. “This reflects a broad weak dollar environment. The market is using any excuse to s ...

A real world cash card that allows gamers to spend money earned in a virtual universe has been launched. Gamers can use the card at cash machines around the world to convert virtual dollars into real currency. The card is offered by the developers of Project Entropia, an online role-playing game that has a real world cash economy. Last year, a virtual space resort being built in the game was snapped up by a gamer for $100,000 (£56,200). The buyer, Jon Jacobs who plays in the game as a c ...

Michael Clarke, This is Money3 May 2006 YOUR post-holiday happiness can disappear faster than your tan when you check your bank statements after returning from a break. WANT TO KNOW MORE? REPORT: 50 ways to save on your holiday READER SERVICE: Order your travel cash DEAL FINDER: Great travel insurance deals HOLIDAY DEALS: This is Travel REPORT: What your holiday will cost you OTHER STO ...

U.S. stocks are headed for a mixed opening Wednesday, as investors take in yet another new 25-year high for gold and an upbeat outlook from Qualcomm, ahead of a speech by Federal Reserve Chairman Ben Bernanke. The futures contract for the Dow Jones Industrial Average last was down 29 points at 11,425. Futures contracts for the S&P 500 and the Nasdaq 100 were down 2.20 points at 1,315.90  ...

Jo Thornhill, Mail on Sunday3 May 2006 WHEN Sue Watkins was diagnosed with breast cancer, it was a devastating blow. Thankfully, the prognosis was good as the cancer had been caught early, though she faced major surgery and a gruelling course of radiotherapy. FLORIDA FAILURE: Sue Watkins had to cancel a trip after being refused cover WANT TO KNOW MORE? REPORT: Insurers tighten illness rules DEAL FINDER: Currency delivered to your home DEAL FINDER: Compare and buy travel insur ...

The dollar remained under pressure early Tuesday as investors continued to digest CNBC's report on Federal Reserve Chairman Ben Bernanke's comments and await his speech on Wednesday for more clues on the U.S. interest-rate outlook. At the same time, the euro and pound were lifted after euro zone and U.K. manufacturing data came in above expectations. Strong economic data out of the euro zone ...

BRITISH manufacturers enjoyed their best month since late 2004 in April as exports finally moved in step with the accelerating global economy, a survey claimed today. Demand for British goods from key trading partners in the United States and Asia improved last month and the recovery of major European economies also brought new business, according to the Chartered Institute of Purchasing and Supp ...