ForexLive Americas FX news wrap: Euro rips higher, dollar and yen beaten up
29 June, 2017, 09:11
The jerk higher in yields following Draghi's comments (http://www.marketwatch.com/story/ecbs-draghi-hints-at-winding-down-of-eurozone-qe-2017-06-27) is reminiscent of other so-called taper tantrums, when investors have sought to pre-empt central banks scaling back their stimulus measures.
SINGAPORE, June 28 The euro hit a 10-month high on Wednesday after the European Central Bank chief hinted the days of the ECB's aggressive stimulus are numbered, and as the dollar was pressured after a vote on US healthcare legislation was delayed.
Speaking in London, Federal Reserve Chair Janet Yellen did little to suggest USA policy makers have altered plans for a third interest rate hike later this year, saying "it will be appropriate to the attainment of our goals to raise interest rates very gradually".
GOOGLE FINE: Aside from the central bankers, the focus in the markets has been on the whopping 2.42 billion-euro ($2.72 billion) fine the European Union has slapped on Google. The euro rose more than 1 percent against the greenback to $1.1344 in the US session, marking its strongest level since September 8, 2016.
In Asia overnight, MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.4 per cent as it pulled back from a two-year high hit on Monday. Reports on Wednesday, however, said that Draghi meant to signal tolerance for a period of weaker inflation, not an imminent policy tightening, according to sources familiar with his thinking.
US stocks accelerated their losses after Senate Republican leader Mitch McConnell made a decision to put off a planned vote on a bill to dismantle the Affordable Care Act until after the Senate's July 4 recess, to get more time to garner sufficient votes for its passage.
But, a stronger euro may weaken inflation by making imports somewhat cheap which could result to European Central Bank being hesitant in further tightening the stimulus policy therefore stalling the euro's rise.
The delay of the healthcare vote eroded expectations that President Donald Trump can succeed at realizing his agenda of tax reform and infrastructure spending, analysts said.
Banks traded higher, as the banking sector rose 0.66% on this news. South Korea's Kospi shed 0.3 percent to 2,386.03. Hong Kong's Hang Seng index edged 0.1 percent lower. China's Shanghai Composite Index added 0.2 percent to 3,191.20.
OIL: Benchmark U.S. crude rose 23 cents to $43.61 per barrel in electronic trading on the New York Mercantile Exchange.
Brent crude futures, the global benchmark for oil prices, gained 82 cents, or 1.79 percent, to settle at $46.65 per barrel. The Nikkei ended the morning session 0.3 percent higher. That selling helped the dollar touch a fresh one-month high of 111.95 yen early on Tuesday. The Dow Jones industrial average slid 0.5 percent to 21,310.66.
The euro surged against the greenback to $1.1349, its highest since late August 2016.
These energy contracts "are being negotiated and we will sign - trying to get the price up a little bit", Trump said . India and the USA also urged Pakistan to ensure that its territory is not used to launch cross-border terror strikes.
Last week, Pulliam gave a similar statement to ET, again making it clear that she doesn't "condone or support sexual assault". Prosecutors have portrayed Cosby as a serial predator. "A 30-year consecutive sentence would be a life sentence", she said.
Sporadic sniper fire could be heard, and an incoming rocket, as the troops used a drone to survey the insurgents' defences. Islamic State has lost about half the Old City since the battle for the historic district started ten days ago.
On Sunday , the Triangle had a high of 84 after a morning low of 69; and Fayetteville had a high of 91 after a morning low of 74. Tuesday , it will be sunny with a high near 82, and a south southeast wind of 3 to 8 miles per hour , the weather service said.
This, combined with the hostile political climate in North Africa and West Asia has threatened exports, causing the supply glut. The Iranian minister spoke highly of OPEC's performance in arriving at a consensus to cut output and help prop up prices.
A Department of State spokeswoman won't say what envoy Joseph Yun gleaned about the medical conditions of the other Americans. Residents of the northern Cincinnati suburb tied blue-and-white ribbons, the school colours, to trees near the family's home.
The investigation of the Grenfell Tower fire must leave "no stone unturned", an open letter to Theresa May has warned. Paulous' body was found on the building's 13th floor and had to be identified through dental records.
His tough-looking passengers ( Jon Hamm , Eiza Gonzalez and Jon Bernthal ) exit with comical menace, assault weapons in hand. Baby is an expert wheelman employed by Doc ( Kevin Spacey ), a shadowy crime king specializing in impossible heists.
Iran warns United States against 'dangerous' Syria escalation
In 2012, President Obama famously warned that the use of chemical weapons use would constitute a red line , triggering US action. Days later, President Donald Trump ordered a retaliatory cruise missile strike on a Syrian government-controlled air base.
Fultz, Embiid fully believe Sixers are a playoff team
There were some slight winners like Charlotte and Utah landing Malik Monk & Donovan Mitchell respectively at surprising spots. Fast food probably isn't a deal-breaker when it comes to where you play in the National Basketball Association .
Govt approves disinvestment of Air India
Air India's share in the domestic aviation market is a mere 14 per cent with Indigo and Jet Airways enjoying the lion's share. On June 5, 2017 Finance Minister Arun Jaitley said that the government should have exited the airline more than a decade ago.
New Analyst Ratings For Morgan Sindall Group (LON:MGNS)
In related news, insider Steve Crummett sold 13,174 shares of Morgan Sindall Group PLC stock in a transaction on Friday, May 19th. Winslow Evans Crocker accumulated 4,380 shares or 0% of the stock. 435,528 shares of the company's stock traded hands.
Bank of England tightens capital requirements as debt surges
Borrowers often do everything they can to pay off mortgages , but are less afraid about defaulting on credit cards or auto loans. The Bank's assessment said loss rates on consumer lending "are low at present", driving margins on new lending lower.
Martial denies exit rumours
Anthony Martial has completely shut down all rumours that his representatives have discussed an exit from Manchester United . Alongside the written message, Martial included a red emoji - reaffirming his commitment to United.
E3 2017: Microsoft Isn't Making Money On The $500 Xbox One X
He told them that the experience will be better on PC, and that Xbox is choosing to focus on mixed reality or augmented reality. Spencer's comment does make sense in the perspective that the Xbox One X offers specifications that Sony can't now rival.
Cosby trial accuser thanks supporters for love, kindness
Cosby stemming from other possible victims, his defense attorney said "None of these accusations have ever been vetted". I'm not going to plea to something I did not do", Cosby said, during an exclusive interview with the NNPA Newswire.
Tillerson urges nations to negotiate to resolve Qatar crisis
Tillerson said that "a productive next step would be for each of the countries to sit together and continue this conversation". Bahrain, Saudi Arabia, United Arab Emirates (UAE) and Egypt have cut ties with Qatar on terrorism funding charges.
Former NBA bad boy Rodman is back in North Korea
The announcement comes as former National Basketball Association player Dennis Rodman is paying a return visit to North Korea . Warmbier also said he had been encouraged by the university's "Z Society", which he said he was trying to join.