Currency Headlines
Euro Drops Against Dollar Amid Spanish Political
Turmoil
The euro fell toward a one-week low versus the dollar as
European Central Bank policy makers prepare to meet tomorrow
amid political and banking turmoil that threatens to deepen the
debt crisis gripping the currency bloc.
The 17-nation euro slid against most of its 16 major peers as
Spanish Prime Minister Mariano Rajoy faced opposition calls to
resign amid contested reports of corruption in his party. Italy’s
Banca Monte dei Paschi di Siena SpA may disclose today the size
of losses it hid in 2008 and 2009 using derivatives. The yen
weakened to 94 per dollar for the first time since May 2010 on
speculation Japan’s government will select a new central bank
chief committed to boosting monetary easing.
The euro fell 0.4 percent to $1.3535 at 10:09 a.m. London time,
after declining to $1.3459 yesterday, the lowest since Jan. 29. It
slipped 0.3 percent to 126.84 yen after climbing to 127.71, the
strongest since April 2010. The yen slid 0.1 percent to 93.71 per
dollar, after touching 94.06, the weakest level since May 5, 2010
U.K. Gilts Advance as Falling House Prices Spurs
Safety
U.K. government bonds rose, pushing 10-year yields down from
near the highest level in nine months, as a report showing house
prices declined in January spurred demand for safer assets.
The pound fell toward a six-month low against the dollar after
Halifax, which publishes the housing data, said the outlook for
the economy and the property market is unclear. The Bank of
England will leave its benchmark interest rate at a record-low 0.5
percent and maintain its asset-purchase target at 375 billion
pounds ($587 billion) tomorrow, Bloomberg News surveys show.
The 10-year gilt yield fell one basis point, or 0.01 percentage
point, to 2.11 percent at 9:10 a.m. London time after rising to
2.17 percent on Feb. 4, the highest since April 20. The 1.75
percent bond due in September 2022 rose 0.105, or 1.05 pounds
per 1,000-pound face amount, to 96.915.
The pound fell 0.2 percent to $1.5636 after dropping to $1.5631
yesterday, the lowest since Aug. 10. Sterling gained 0.2 percent
to 86.56 pence per euro. The U.K. currency depreciated to 87.17
pence on Feb. 1, the weakest since October 2011.
Euro Drops Against Dollar Amid Spanish Political
Turmoil
The euro fell toward a one-week low versus the dollar as
European Central Bank policy makers prepare to meet tomorrow
amid political and banking turmoil that threatens to deepen the
debt crisis gripping the currency bloc.
The 17-nation euro slid against most of its 16 major peers as
Spanish Prime Minister Mariano Rajoy faced opposition calls to
resign amid contested reports of corruption in his party. Italy’s
Banca Monte dei Paschi di Siena SpA may disclose today the size
of losses it hid in 2008 and 2009 using derivatives. The yen
weakened to 94 per dollar for the first time since May 2010 on
speculation Japan’s government will select a new central bank
chief committed to boosting monetary easing.
The euro fell 0.4 percent to $1.3535 at 10:09 a.m. London time,
after declining to $1.3459 yesterday, the lowest since Jan. 29. It
slipped 0.3 percent to 126.84 yen after climbing to 127.71, the
strongest since April 2010. The yen slid 0.1 percent to 93.71 per
dollar, after touching 94.06, the weakest level since May 5, 2010
U.K. Gilts Advance as Falling House Prices Spurs
Safety
U.K. government bonds rose, pushing 10-year yields down from
near the highest level in nine months, as a report showing house
prices declined in January spurred demand for safer assets.
The pound fell toward a six-month low against the dollar after
Halifax, which publishes the housing data, said the outlook for
the economy and the property market is unclear. The Bank of
England will leave its benchmark interest rate at a record-low 0.5
percent and maintain its asset-purchase target at 375 billion
pounds ($587 billion) tomorrow, Bloomberg News surveys show.
The 10-year gilt yield fell one basis point, or 0.01 percentage
point, to 2.11 percent at 9:10 a.m. London time after rising to
2.17 percent on Feb. 4, the highest since April 20. The 1.75
percent bond due in September 2022 rose 0.105, or 1.05 pounds
per 1,000-pound face amount, to 96.915.
The pound fell 0.2 percent to $1.5636 after dropping to $1.5631
yesterday, the lowest since Aug. 10. Sterling gained 0.2 percent
to 86.56 pence per euro. The U.K. currency depreciated to 87.17
pence on Feb. 1, the weakest since October 2011.
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