Foreign Exchange News

LONDON (Thomson Financial) - The pound was higher as strong GDP numbers boosted expectations the Bank of England will raise interest rates again the the coming months. The UK economy grew 0.8 pct in the second quarter of the year, beating expectations of a 0.7 pct rise. This news, coupled with a higher-than-expected CPI reading of 2.4 pct earlier this week, has kept sterling well supported in ant ...

Zoe Dare Hall, Daily Mail20 July 2007 Chat | Guide Buying off-plan has become a popular way to make money from an overseas property investment. But why not make a good deal even better by buying the perfect plot and then organising the building of your dream home yourself? WANT TO KNOW MORE? Spanish property crash feared Build your own home and save Five steps to building a ...

MANILA (Thomson Financial) - The Philippine peso extended its rally Friday to end the week at a new seven-year high against the US dollar, buoyed by foreign inflows into equity offerings of local companies. "The peso is buoyed by equity-related inflows and is moving up against the US dollar like the other regional currencies," Philippine central bank governor Amando Tetangco Jr told rep ...

(Recasts, updates prices, adds details, comments) LONDON (Thomson Financial) - Copper rose to its highest price since mid May and held firmly above 8,000 usd, a key psychological level, as falling global stocks sparked tight supply jitters. Earlier, the Shanghai Futures Exchange in China, the world's top consumer, said its copper stockpiles fell 0.89 pct to 91,182 tonnes in the week to July 20.  ...

LONDON (Thomson Financial) - Gold eased slightly in early trade due to the dollar pulling back some losses against the euro, and as market players looked to lock in profits after the precious metal rallied to a 10-week high yesterday. "The dollar is a little bit stronger at the moment so that will be having an effect," said JP Morgan analyst Michael Jansen. "Gold has also been on  ...

(Updates with details) BANGALORE (Thomson Financial) - India's Sasken Communication Technologies Ltd said its first-quarter net profit fell 31 pct from the year earlier, hit by a stronger rupee and wage hikes, despite a 41 pct jump in revenues for the period. The embedded telecom software company posted a net profit of 63.9 mln rupees for the quarter to June 30 from 91.95 mln rupees a year earli ...

BANGKOK (Thomson Financial) - The Thai prime minister on Friday agreed on new measures aimed at curbing the baht's rise, while the central bank governor insisted the country would not return to a fixed exchange rate system. "My government has a clear stance that we want to stabilize the currency," army-installed Prime Minister Surayud Chulanont said after meeting with top finance offici ...

KUALA LUMPUR (Thomson Financial) - The Malaysian ringgit is projected to strengthen to 3.10 ringgit against the US dollar next year as the government is earnest about attracting foreign investments and the central bank's tolerance level for the ringgit has increased further, CIMB Investment Bank said. The bank's Singapore-based economist Song Seng Wun said he is keeping his year-end forecast for  ...

BEIJING (XFN-ASIA) - The central bank has set the yuan central parity rate at 7.5712 to the dollar, according to the China Foreign Exchange Trading System. The rate, published on the official Chinamoney website (www.chinamoney.com.cn), compares with the midpoint of 7.5636 set the previous trading day. The People's Bank of China (PBoC) started setting a daily central parity rate on Jan 4, 2006.  ...

LONDON (Thomson Financial) - Robusta coffee futures rose on technical buying which has helped prices return to the level they were at the start of the month. At 1.40 pm, Robusta coffee for September delivery was up at 1,884 usd a tonne on the Euronext Liffe, against 1,854 usd at the close yesterday. "The managed money influence in coffee is quite large at the moment," said a Sucden tra ...