Foreign Exchange News

NEW YORK, Sept 29 (Reuters) - The euro and British pound tumbled against the dollar on Monday as bank nationalizations in Europe forced investors to calculate their risk exposure from financial instability that has now moved far beyond the United States. A crisis in European banking threatened to overshadow the proposed $700 billion U.S. bank bailout deal that looked set for a vote in the House o ...

NEW YORK, Sept 28 (Reuters) - Central banks around the world on Monday unveiled a coordinated effort to pump massive amounts of cash into the global banking system in a bid to restore confidence shaken by the credit crisis. Story: Fed text: KEY POINTS: THE U.S. FEDERAL RESERVE INCREASED ITS RECIPROCAL SWAP LINE arrangements with nine central banks by $330 billion to $620 billion. THE FED ALSO  ...

NEW YORK, Sept 29 (Reuters) - The euro fell 2 percent against the yen on Monday amid rising risk aversion as the impact of the year-long financial storm moved beyond the United States, forcing bank nationalizations in Europe. In early New York trade, the euro was last at 151.76 yen after going as low as 151.73 yen. "The price action remains on yen crosses with euro/yen and dol ...

NEW YORK NEW YORK, Sept 29 (Reuters) - The U.S. dollar pared some gains against the euro and yen on Monday on news Citigroup Inc. will acquire the bulk of Wachovia Corp.'s assets and liabilities. [nWEN8570]. The euro was last down 1.7 percent against the dollar at $1.4366 from $1.4345 as the news broke. The dollar was little changed at 106.00 yen from 106.15 yen when the announcement was m ...

LONDON, Sept 29 (Reuters) - Fears over a widening financial crisis knocked emerging assets lower and a government takeover of Icelandic bank Glitnir sent the crown currency skidding to record lows against the euro. Czech, Russian and South African equities were among the biggest losers, declining more than 3 percent amid a broader rout on global markets that could not be stemmed by the prospect o ...

- * Silver fixes at 1,306.00 U.S. cents, below its previous fix of 1,318.00 cents. Spot silver falls to $12.90/12.98 by 1117 GMT from $13.29 an ounce at its nominal close in New York on Friday. Forward rates on Reuters pages indicated at 3.25, 3.24, 3.25, 3.14 and 3.00 percent for one, two, three, six and 12 months, respectively. Gold little changed at $878.55/880.55 an ounce against $878.40 an o ...

LONDON, Sept 29 (Reuters) - The euro and sterling tumbled more than 2 percent against the dollar on Monday as the impact of the latest financial storm fanned out beyond the United States, forcing bank nationalisations in Europe. European banking sector troubles, which also sent share prices diving, threatened to overshadow the proposed and hard fought $700 billion U.S. bank bailout deal that loo ...

LONDON, Sept 29 (Reuters) - A firm dollar dragged down base metal prices on Monday with copper touching a nine-month low as investors awaited a vote by the U.S. Congress on the creation of a $700-billion government fund to buy bad debt. "It's the dollar," said analyst Leon Westgate at Standard Bank, explaining why prices were falling. He said the market was focusing on sluggish demand  ...

MANILA, Sept 29 (Reuters) - The Philippine economy remains sound despite the global financial crisis and steady inflows of dollars from overseas Filipino workers are helping keep domestic liquidity adequate, the central bank chief said on Monday. The country's banks have limited exposure to the collapse of Lehman Brothers, a factor helping contain any large swings in domestic markets, said Amando ...

SEOUL, Sept 29 (Reuters) - The South Korean won fell more than 3 percent to near 5-year lows against the dollar on Monday on a persistent dollar-funding squeeze, although it cut some of the losses later on talk of dollar-selling intervention. Central banks around the region pumped more cash into their financial systems to help boost liquidity, but worries about the longer-term outlook in global c ...