Foreign Exchange News

Japan grew at a stronger-than-expected annualised rate of 1.9 per cent in the March quarter, with the domestic economy emerging as the clear driver of a recovery likely to last longer than any since the war. // The outcome came as a relief to Japanese investors who had been worried about weak monthly data, including sluggish machinery orders. Naoki Murakami, senior economist at Goldman Sachs,  ...

Just as the travails of the diminishing US dollar hit the headlines of the world’s media, the greenback managed to post a rare gain. // A series of sharp falls had led the dollar to its lowest level since October 1997 in trade-weighted terms, leading to talk that this was the start of the structural decline many had long predicted. That may still be so, but markets rarely move in straight lines and this week the dollar rose 1.6 per cent to $1.2727 to the euro, 2 per cent to Y111.86 against the ...

Dick Murray, Evening Standard19 May 2006 RAIL fares are too expensive and too complicated, according to a damning report today from a crossparty committee of MPs. OFF THE RAILS: A single fare between London and Manchester can be anything from £6 to £317 WANT TO KNOW MORE? REPORT: Confusion of holiday train tickets REPORT: Take the train for £1 OTHER STORIES Anger over Air Miles robbery Big bills for text on the beach Cheapest foreign currency rates ...

HONG KONG (Dow Jones) -- Japan's policy of keeping interest rates at 0% will remain intact for now after a key central bank panel voted unanimously Friday against a change in stance. "'The BOJ will encourage the uncollateralized overnight call rate to remain at effectively zero percent," the central bank said in a statement. At a press conference Friday afternoon, Bank of Japan Governor Tosh ...

Robert Lee, Evening Standard19 May 2006 FUEL surcharges on passenger air fares have sent profits at British Airways soaring. HIGH-FLYER: BA profits rose more than was expected in the fourth quarter WANT TO KNOW MORE? Holiday advice: www.thisistravel.co.uk OTHER STORIES British Gas warns bills going up Market report: Friday preview The £1bn World Cup bookie bonanza New Windows could be blocked Watchdog's bank fees shock THE EDITOR'S CHOICE TOP TOO ...

Asian markets traded unevenly Friday, with Japan's Nikkei Average lower despite news the economy grew at a faster-than-expected rate in the fourth quarter, as traders took their cues from weak U.S. consumer data and a late sell-off in New York. The Nikkei 225 Average eased 121.30 points, or 0.75%, to 15,965.88, marking the second day the leading share index has slipped below the 16,000 level.  ...

Financial market turbulence pushed currency trading volumes to a fresh record on Wednesday as investors unwound existing trades and sought to exploit opportunities created by the recent rise in volatility. // EBS, the biggest interdealer platform, reported that $258.6bn was traded in a single day, surpassing the $235bn set only last Friday. The platform is considered to dominate trading in euro against the dollar and dollar against the yen – the two most-traded currency pairs which account for  ...

By Martin Hayes and Zach Howard LONDON/NEW YORK (Reuters) - Gold slipped on Thursday as unpredictable moves in the U.S. dollar and choppy financial markets sparked a round of fund and speculative selling late in U.S. metals trading. Other precious metals stuttered as well, with silver dropping more than 5 percent before steadying, while platinum hovered in a wide range below its prior record hig ...

By Edward Alden in WashingtonPublished: May 18 2006 18:29 | Last updated: May 18 2006 18:29US senators sharply criticised the administration of President George W. Bush on Thursday for its continued refusal to cite China for currency manipulation, warning that Congress could run out of patience if the renminbi did not begin climbing sharply against the dollar. // “To say that China is not manipulating its currency defies all evidence, all logic, all common sense,” said Richard Shelby, Republica ...

By David Burrows LONDON (Reuters) May 18 - Investors looking to buy abroad are turning away from France and Spain and opting for better value -- in Bulgaria. The EU may be balking at Bulgaria's failure to rein in organised crime but second-home hunters seem to have no worries. "Bulgaria is definitely on the radar with buyers at the moment," said Rupert Lee-Browne at currency exchange specialist ...