Foreign Exchange News

LONDON (AFX) - The dollar moved sharply higher on the unexpected news that the unemployment rate in the US fell to a five-year low in October. The Labor Department reported that the unemployment rate fell for the third consecutive month to 4.4 pct from 4.6 pct. That's the lowest since May 2001. The main reason behind the fall in the unemployment rate were further upward revisions to job creation ...

LONDON (AFX) - The dollar was steady against the euro as the market awaited key US employment data this afternoon, while the pound rose following this morning's very strong UK services sector survey. Today's monthly jobs figures are expected to show the US economy created around 130,000 jobs in October. Recent weak US data have increased the risk of a below-consensus reading, however, which would ...

BEIJING (XFN-ASIA) - The yuan closed at 7.8716 to the US dollar on the over-the-counter (OTC) market, compared with 7.8735 yesterday. On the exchange-traded market, the yuan ended at 7.8709, compared with yesterday's 7.8740. The currency traded between 7.8718-7.8708 on the exchange-traded market, and between 7.8732-7.8706 on the OTC market, according to a Shanghai-based dealer. The central bank ...

SINGAPORE (XFN-ASIA) - The US dollar was slightly softer in quiet afternoon trading here, the market lacking its usual liquidity because of a public holiday in Japan and caution before the release later today of the US non-farm payrolls data for last month, dealers said. At 3.08 pm here (0708 GMT), the dollar was at 117.07 yen, down from 117.18 yen in Sydney about 4-1/4 hours earlier. The euro wa ...

SYDNEY (XFN-ASIA) - The US dollar was little changed against the yen and euro here as traders sit on the sidelines ahead of the key non-farm payrolls data due in the US tonight, while a holiday in Japan today has further depleted any impetus to take positions, dealers said. At 1.52 pm here (0252 GMT), the US dollar was unchanged at 117.18 yen from morning trade while the euro was slightly lower a ...

SAN FRANCISCO (Dow Jones) -- As a new year approaches, global market analysts and pundits will polish their crystal balls and issue proclamations about where to put your money. So it's worth paying attention when investment strategists at Merrill Lynch & Co. offer an early preview of investment ideas they expect will be the foundation for their research in 2007. The 10 themes that Richard B ...

SYDNEY (XFN-ASIA) - The US dollar was steady against the yen and euro in morning trading here as the market awaited the release later today of the US non-farm payrolls data for last month, dealers said. They said that if the figures matched the increase of 125,000 jobs that the market expected, it would reinforce the view that the US labor market remains healthy and so support the greenback. At  ...

LONDON (AFX) - The euro moved higher after comments from European Central Bank president Jean-Claude Trichet confirmed market expectations that euro zone interest rates are set to rise further in December. The ECB kept interest rates unchanged at today's meeting at 3.25 pct, while Trichet said the ECB needs to exercise "strong vigilance" on inflation, viewed as a codeword for plans to r ...

FRANKFURT (AFX) - European Central Bank President Jean-Claude Trichet said the credibility of the euro currency notes in circulation remains intact despite the discovery of some 1,500 euro bills which disintegrate upon contact with human hands. "It does not put into question in any respect, of course, the credibility of the notes in circulation," Trichet said during the news conference  ...

(Adds analyst comment) LONDON (AFX) - Signet Group PLC, the Anglo-American jewellery retailer, has posted better-than-expected third-quarter sales and announced plans to move to US dollar reporting. For the 13 weeks to Oct 28 the group, which trades from 1,290 US stores and 585 stores in the UK, reported total sales up 5.7 pct to 328.3 mln stg, a rise of 9.5 pct at constant exchange rates. On a ...