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Changed Against The DollarTitle:
Euro falls to almost two-year low on Greek fears
(Reuters) - The euro slumped to its weakest level against the dollar in nearly two years on Wednesday on doubts a meeting of European leaders would calm fears of a disorderly Greek exit from the euro zone.
Investors piled money into safe-haven instruments, driving the U.S. dollar index to its strongest since September 2010. The yen, which also tends to perform well during times of stress, hit its highest level since February against the euro.
Euro zone officials have told members of the currency area to prepare contingency plans in case Greece quits the bloc, an eventuality which Germany's central bank said would be testing but "manageable," three officials told Reuters.
An informal summit of European Union leaders on Wednesday is expected to discuss growth-boosting measures and the ...
Title:
Euro sinks to 21-month low as Greek exit fears rise
(Reuters) - The euro plunged to a 21-month low against the dollar on Wednesday as investors dumped the currency on growing fears of a Greek euro zone exit and widespread doubts about the outcome of an EU summit later in the day.
EU leaders are expected to discuss growth-boosting measures but are not expected to produce any plan that would restore optimism among investors, especially given Germany's strong opposition to joint euro bonds.
Investors are doubtful that the leaders will come up with any measures to calm fears that have grown since an inconclusive Greek election earlier this month left the country on the path to bankruptcy and a possible exit from the euro zone.
"The whole problem of Greece, of fiscal retrenchment in the euro zone, the lack of growth across the region, and the ...
Title:
Euro drops to 21-month low as break up risks mount
(Reuters) - The euro fell to a 21-month low against the dollar on Wednesday as investors added to bearish bets on growing concerns about a chaotic Greek exit and widespread skepticism about the outcome of an EU summit due later in the day.
EU leaders are expected to discuss growth-boosting measures but are not expected to produce any plan that would restore optimism among investors, especially given Germany remains strongly opposed to joint euro bonds.
Investors are doubtful that the leaders will come up with any measures to calm fears that have grown since an inconclusive Greek election earlier this month left the country on the path to bankruptcy and a possible exit from the euro zone.
The euro fell to $1.2615 on trading platform EBS, dropping below the 2012 low of $1.2624 set in ...
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Doubts over EU summit send shares, euro lower
(Reuters) - World shares fell and Germany sold two-year bonds paying virtually no interest on Wednesday as investors shunned riskier assets, doubting that any new measures to tackle the euro zone debt crisis would emerge from a European leaders summit.
Concerns the latest EU summit could be a failure sent the euro to a 21-month low, put an end to a rally in European equities, and sent yields on Spanish and Italian bonds higher.
But investors bid strongly at an auction of safe-haven two-year German government bonds resulting in a yield of just 0.07 percent, while the dollar, measured against other major currencies .DXY hit a high not seen since September 2010.
The leaders are expected to discuss boosting growth at their meeting later on Wednesday and the idea of a joint euro zone bond. ...
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European Market Update : 23/05/2012
Euro hits fresh 2012 lows ahead of informal summit; More reports of an ECB contingency plan in the works
Economic Data
(GR) Greece Mar Current Account: -€2.1B v €1.1B prior
(NL) Netherlands Mar Consumer Spending Y/Y: % v -1.3% prior
(SE) Sweden Apr Unemployment Rate: % v 7.8%e
(EU) Euro Zone Apr Current Account: +€7.5B v -€5.6B prior; Current Account Seasonally Adj: +€7.5B v -€1.2B prior
(IT) Italy May Consumer Confidence: 86.5 v 89.5e (lowest reading on record after series began in 1996))
(ZA) South Africa Apr CPI (all items) M/M: 0.4% v 0.5%e; Y/Y: % v 6.2%e
(TW) Taiwan Apr Industrial Production Y/Y: -2.3% v -1.7%e; Commercial Sales Y/Y: -2.4% v -0.9% prior
(UK) Apr Retail Sales Ex Auto Fuel M/M: -1.0% v -0.7%e; Y/Y: -0.3% v +0.7%e
(UK) Apr Retail Sales with Auto Fuel M/M: -0.8% ...
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Euro hits 21-month low versus dollar before EU summit
(Reuters) - The euro hit a 21-month low against the dollar on Wednesday ahead of an EU meeting later, with investors doubtful that leaders would come up with measures to stem the euro zone debt crisis.
An informal EU summit is expected to discuss growth-boosting measures but was not expected to produce any plan that would restore optimism among investors, especially given Germany remains strongly opposed to joint euro bonds.
The euro fell to $1.2615, dropping below the 2012 low of $1.2624 set in January to mark its lowest since August 2010.
Fears that Greece may have to leave the euro grew after Dow Jones earlier quoted former prime minister Lucas Papademos as saying Greece had no choice but to stick with a painful austerity program or face a damaging exit from the euro zone.
However, ...
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European markets single lower, while eyes are on the EU summit
The tension is evident as the sell-off wave swept the currency market including high yielding currencies, and the European stock futures are back once again to trade lower before the opening today.
The risks of Greece leaving the euro area have become very influential on the markets lately with the expectations that anti-austerity parties will win the elections held on the seventeenth of June.
Investors will be focusing today on the European summit held in Brussels with Greece being the main theme in addition to Spain`s Budget deficit.
The euro drooped from the opining levels that were near the highest levels reached today at $1.2687 and is currently trading at $1.2664. The EUR/USD reached the lowest level today at $1.2643 while it opened at $1.2643.
As for the Great British Pound, the ...
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Japan Policy On Hold, Eyes On BoE Minutes
The euro (EUR) dropped near a 21-month low falling to 1.2645 from 1.2814 against the US dollar as risk aversion dominates the markets. Comments from former Greek Prime Minister Lucas Papademos raised concerns after he said that Greece has two options, stick to a painful austerity program or face a damaging default and a messy exit from the eurozone. Focus now turns to today’s informal EU summit where France is expected to push a proposal of joint eurozone bonds. The idea of joint bonds can help with funding difficulties for some heavily-indebted eurozone countries but that policy has been rejected by Germany before. EU leaders are also expected to focus more on growth and ways to help Greece stay in the euro.
The US dollar (USD) strengthened against a basket of currencies as fears of a ...
Title:
Noticeable rise for Yen after BOJ’s rate decision
Japanese yen inclined against major currencies after the BOJ’s rate decision, where the Bank of Japan did not offer new incentive policies, as the benchmark interest rate left unchanged between zero levels as well as assets purchase programs and credit load program.
Yen gained some power against dollar after BOJ’s meeting, where the USD/JPY pair declined to low of 79.48 from 79.95 recoding high at 80.07.
Japanese yen also inclined against euro recording the highest in three sessions, where EUR/JPY pair declined to low of 100.71 and high at 101.46 after opening at 101.39.
Australian dollar fell against American dollar to the lowest in almost five months, AUD/USD pair recorded lowest at 0.9739 after 0.9807 with high at 0.9809.
NZD/USD pair fell also to the lowest in almost five months to ...
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