Euro zone cannot fully shield economies from energy prices, will focus on the vulnerable

Euro zone governments cannot fully shield their economies from the surge in energy prices and will focus on protecting the most vulnerable through exceptional, targeted and temporary income measures, a draft statement of euro zone finance ministers said. The draft, prepared for talks of the ministers of the 19 countries sharing the euro in Luxembourg on Monday, said national measures would be coordinated to protect cross-border competition in the European Union. "It is our responsibility to mitigate the adverse impact of this external shock on our economies," the draft statement, seen by Reuters, said.

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03 Oct, 2022
/ 10:26

Euro zone eyes temporary, targeted energy support amid high inflation

Euro zone finance ministers are likely to pledge on Monday that national financial shields against soaring energy costs will be temporary and targeted, so as not to trigger a wage-price spiral that would boost already record high inflation, officials said. The ministers, meeting in Luxembourg for regular monthly talks, are likely to issue a statement on their fiscal response to the unfolding cost-of-living crisis, caused by the collapse of Russian gas deliveries to Europe. Talks on the fiscal response come as Germany, the euro zone's biggest economy, announced last Thursday it would borrow on the market to finance a 200 billion euro ($195.32 billion)support scheme for companies and households hit by energy costs.

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03 Oct, 2022
/ 09:49

Dollar Static, Sterling Gains After U.K. Government's Tax U-Turn

The U.S. dollar edged higher in early European trading Monday, while sterling also gained after the U.K. government agreed to water down its plans for unfunded tax cuts. GBP/USD climbed 0.3% to 1.1188 after the British government decided to reverse the proposed scrapping of the highest rate of income tax, a plan that has been widely criticized in the governing Conservative Party as well as the country as a whole. New Finance Minister Kwasi Kwarteng announced his plan to substantially cut taxes, including the 45p highest rate of income tax, as part of a mini-budget on Sept. 23.

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03 Oct, 2022
/ 02:44

Stock market: 2022 is exposing 'freaky post-QE financial system plumbing,' BofA says

The global research team at BofA Securities, led by Michael Hartnett, has navigated the curveballs thrown by 2022 far better than most.

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02 Oct, 2022
/ 14:17

FOREX-Dollar up on euro as quarter ends, commodity led currencies sink

The dollar rose against the euro on Friday but pared gains late in a session that was muddied by quarter-end trading while riskier commodity-led currencies fell sharply after European inflation hit a record high and U.S. consumer spending increased faster than expected. But while the dollar index was showing its biggest quarterly gain since the first quarter 2015 it was set for its first weekly decline in three weeks. After hitting a record low on Monday, the British currency was on track for a weekly gain after the Bank of England bought British government bonds, known as gilts, on Wednesday, Thursday and Friday.

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30 Sep, 2022
/ 21:03

U.S. dollar share of global FX reserves rises in Q2; euro share slips -IMF data

The U.S. dollar's share of currency reserves reported to the International Monetary Fund rose in the second quarter, with the Federal Reserve in the midst of an aggressive tightening cycle aimed at stamping out uncomfortably high inflation. The greenback's share of reserves rose to 59.5%, from 58.8% in the first quarter, IMF data showed on Friday. Global reserves, which are reported in U.S. dollars, are central bank assets held in different currencies used in part to support their liabilities.

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30 Sep, 2022
/ 15:05

UPDATE 1-U.S. dollar share of global FX reserves rises in Q2; euro share slips -IMF data

The U.S. dollar's share of currency reserves reported to the International Monetary Fund rose in the second quarter, with the Federal Reserve in the midst of an aggressive tightening cycle aimed at stamping out uncomfortably high inflation. The greenback's share of reserves rose to 59.5%, from 58.8% in the first quarter, IMF data showed on Friday. Global reserves, which are reported in U.S. dollars, are central bank assets held in different currencies used in part to support their liabilities.

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30 Sep, 2022
/ 15:00

FOREX-Dollar gains on euro after inflation data, sterling falls

The dollar gained against the euro on Friday after European inflation hit a record high and U.S. consumer spending increased faster than expected. But while the dollar was on track for its biggest quarterly gain since 2015 it was headed for its first weekly decline in three weeks. After hitting a record low on Monday, the pound was on track for a weekly gain after the Bank of England bought British government bonds, known as gilts, on Wednesday, Thursday and Friday.

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30 Sep, 2022
/ 14:47

FOREX-Sterling recovers with euro as UK fiscal angst recedes, European inflation accelerates

Sterling and the euro rose to fresh one-week highs on Friday, buoyed by the Bank of England's moves to calm markets and hawkish signals from the European Central Bank. The British currency was headed for its best week against the U.S. dollar in 2 1/2 years as the BoE waded into the debt market to buy gilts for a second day on Thursday, buoying UK yields. Heated German and Dutch consumer inflation data also served as a reminder that the job of the ECB, BoE and other central banks is not done, with the figure for the wider 19-country euro zone due later on Friday.

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30 Sep, 2022
/ 05:54

Dollar up on euro as quarter ends, commodity led currencies sink

The dollar rose against the euro on Friday but pared gains late in a session that was muddied by quarter-end trading while riskier commodity-led currencies fell sharply after European inflation hit a record high and U.S. consumer spending increased faster than expected. But while the dollar index was showing its biggest quarterly gain since the first quarter 2015 it was set for its first weekly decline in three weeks. After hitting a record low on Monday, the British currency was on track for a weekly gain after the Bank of England bought British government bonds, known as gilts, on Wednesday, Thursday and Friday.

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30 Sep, 2022
/ 02:27

FOREX-Sterling and euro recover; ECB likely to be aggressive after high German CPI

That puts the UK currency on course for its best week in 2 1/2 years. The euro also jumped to a one-week peak after a heated German inflation reading reinforced expectations for more aggressive policy action from the European Central Bank (ECB).

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30 Sep, 2022
/ 02:25

Pound and euro need to fall further to reach "fair value" - IIF

Britain's pound is still 18% above its "fair value" and the euro 11.6% above its fair value despite the sharp falls seen by both currencies this year, the Institute of International Finance estimated on Thursday. "Although the Euro and the British Pound have already fallen substantially, we estimate that they will need to fall further in order to converge to their new fair values," the IIF's Robin Brooks said commenting on its latest FX fair value estimates.

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29 Sep, 2022
/ 14:03

Swiss franc's surge against the euro a boon for business

The Swiss franc is breaking records against the euro, giving the Swiss economy a temporary boost as central banks battle inflation -- although experts remain cautious about the months ahead.

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29 Sep, 2022
/ 13:01

FOREX-Sterling volatile as PM defends plan, euro drops with inflation data in focus

Sterling and the euro fell on Thursday as Prime Minister Liz Truss defended her government tax-cutting budget, while relief at the Bank of England's intervention in bond markets faded. Investors also awaited German inflation data. The British currency jumped the most since mid-June on Wednesday after the BoE announced an emergency bond-buying plan to shore up a gilt market that had been in freefall with the pound.

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29 Sep, 2022
/ 11:37

Euro zone bond yields rise as German inflation flares; UK gilts flag

Euro zone government bond yields rose on Thursday, unwinding most of the previous day's gains, after German inflation data reignited investor concerns over yet more interest-rates rises. Meanwhile, UK bond holders resumed their selling of gilts after the Bank of England (BoE) stepped in on Wednesday to stabilise the market in light of a surge in yields. Euro area yields fell sharply, echoing the strength in the gilt market, after the BoE's decision to launch of an emergency bond-buying programme gave fixed income investors some relief from what has been an otherwise relentless drop in prices this year.

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29 Sep, 2022
/ 10:52

Sterling to bitcoin buys skyrocket as pound falls

Trading volumes between the British pound and bitcoin have skyrocketed this week.

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29 Sep, 2022
/ 09:49

EU Lawmakers Attack Amazon’s Involvement in Digital Euro Project

Cross-party lawmakers cited worries over data privacy and taxation as they demanded a U-turn on the controversial European Central Bank decision to let Amazon participate in the digital euro project.

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29 Sep, 2022
/ 09:33

FOREX-Sterling slips as BoE boost fades, euro drops with inflation data in focus

Sterling and the euro fell on Thursday and the U.S. dollar clawed back a recent dip as relief at the Bank of England's intervention in bond markets faded. Investors also awaited German inflation data. The British currency jumped the most since mid-June on Wednesday after the BoE announced an emergency bond-buying plan to shore up a gilt market that had been in freefall with the pound.

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29 Sep, 2022
/ 08:03

Peer-to-Peer Validation for Digital Euro Might Not Be Feasible, ECB Says

The central bank will soon start developing its rulebook to enable branding for its new initiative.

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29 Sep, 2022
/ 08:00

Dollar Surges Higher, Pound Retreats as BOE Relief Doesn't Last

The U.S. dollar resumed its seemingly relentless march higher in early European trading Thursday, while sterling slumped as the relief rally attached to the Bank of England’s intervention into the bond market dissipated. The Bank of England announced an emergency bond-buying on Wednesday, attempting to shore up the gilt market which had slumped, along with the pound, after the new U.K. government announced substantial tax cuts, likely funding by hefty borrowing.

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29 Sep, 2022
/ 03:09

ECB Raises Rates by 50 Basis Points, More Than Expected, Amid Record Inflation

By Geoffrey Smith

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21 Jul, 2022
/ 08:28

Stocks rise as the euro and U.S. dollar reach parity, GameStop launches NFT marketplace

Yahoo Finance's Jared Blikre breaks down the latest stock and bond market action, plus the latest news surrounding GameStop stock.

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12 Jul, 2022
/ 14:01

Pound hits two-year low against dollar after UK economy contracts

Sterling fell 1.1% against the greenback after Britain's economy shrank in April as the cost of living crisis bites.

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13 Jun, 2022
/ 08:39

Pound nears five-year low amid stagflation worries

The decline comes on the back of 40-year high inflation, with price pressures likely to put more strain on a contracting UK economy.

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18 May, 2022
/ 12:02

Basics of Forex Trading – Part 1

Newcomers must learn the unique language and dynamics of the forex market to beat the odds and become successful currency traders. What is the forex market? Why is it a great market to trade? What is a currency pair and how it is read? What are the major terms and concepts that forex traders need to learn?

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17 Apr, 2022
/ 13:57

Euro dips below $1.10 for first time since 2020

The common currency fell as low as $1.0964, down 0.9%, against the dollar – its weakest level since May 2020.

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04 Mar, 2022
/ 13:21

Property: Most viewed overseas homes of 2021

An equestrian facility in California and a mansion in New York are on Brits' wish list.

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21 Dec, 2021
/ 00:01

Pound and euro suffer against dollar as US Fed looks to faster tapering

Sterling touched lows of $1.3325 as the US central bank hinted at wrapping up its stimulus programme, and raising interest rates, earlier than anticipated to counteract rising inflation.

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25 Nov, 2021
/ 10:08